FCR Recalibration. Presentation to Industry Emile Stipp Deloitte Actuarial & Insurance Solutions &...
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Transcript of FCR Recalibration. Presentation to Industry Emile Stipp Deloitte Actuarial & Insurance Solutions &...
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FCR Recalibration .Presentation to Industry
Emile StippDeloitte Actuarial & Insurance Solutions & Insight ABC11 August 2005
Presentation to Industry
2004 Deloitte & Touche
OVERVIEWPART I:Broad aimsConceptual frameworkOverview of methodology and dataPART II:ResultsFurther discussion pointsThe way forward
Presentation to Industry
-
PART I
Presentation to Industry
2004 Deloitte & Touche
Broad aimsTo construct a formula, on the basis of data from Star Returns, and Dynamic Financial Analysis, which would be an appropriate basis for a solvency requirement, for those companies that choose not to use an approved Internal ModelIn accordance with work performed by the FSB and the Financial Condition Reporting Sub-Committee of ASSAs STICTaking into account international developments on short-term insurance solvency requirementsThe formula should be prudentAnd will be a function of capital charges determined to cover:Insurance riskInvestment riskCatastrophe riskOperational riskOther elements of risk, e.g. underwriting cycle would be explicitly or implicitly included in formula
Presentation to Industry
2004 Deloitte & Touche
Conceptual frameworkProgression from industry calibration, to certified model, to internal model:Industry calibrationCertified modelInternal modelIncreasing complexityIncreasing appropriateness for individual companyIncreasing costIncreasing usefulness in risk management
Presentation to Industry
2004 Deloitte & Touche
Conceptual frameworkProgression from industry calibration, to certified model, to internal model:Industry calibrationCertified modelInternal modelNecessarily approximate
Must be prudent for all companies
Hence is prudent overallMore precise for liabilities
But involves judgement
And hence requiresprofessional certificationMaximum precision for liabilities and assets
Also requiresprofessional certification
Leads to greatest understanding of risks
Provided models are transparent and realistic
Presentation to Industry
2004 Deloitte & Touche
Conceptual frameworkAll of the above as opposed to current model, which:Contains heroic approximationsOther than by chance, gives no indication of real risks faced by a companyPrudent for some, and imprudent for othersIts only advantage is that it is simpleThe intention is that industry calibrated model would be easy to apply in practiceAlthough there may be complex maths operating in the background The industry calibration should walk a tightrope between:High complexity due to a desire to allow for all possibilities and the individual circumstances of each company; versusOver-simplification due to a desire to make the formula easy to apply in practice
Presentation to Industry
2004 Deloitte & Touche
Overview of methodologyWe first set up programmes that analyse desired aspects of the data contained in STAR returns, dating back to 1990, taking into account changes in layout in 1999We identified: duplicate, blank and corrupted files, inconsistent financial year-ends, inconsistencies or changes in company names or structures & made appropriate adjustmentsThe following were extracted from the data (among other items): Claims payment run-offsOutstanding claims reservesIBNR reservesEarned premiumsExpenses and commissionWe analysed claims run-off using the Bornhuetter-Ferguson (BHF) methodAnd estimated Ultimate Loss Ratios emerging for each accident year for each company
Presentation to Industry
2004 Deloitte & Touche
Data: ultimate loss ratios before cleansing
Presentation to Industry
1.1 ULR
UncleanedCleaned
ULRBinFrequencyBHF ULRBinFrequency
-3.5519970366< 020.194137147< 00
-0.0490819663090.237989677700
00 to 0.0510.26962408110 to 0.050
00.05 to 0.100.31433329910.05 to 0.10
00.1 to 0.1530.40493941460.1 to 0.150
00.15 to 0.280.41173729420.15 to 0.21
00.2 to 0.2520.41738213460.2 to 0.251
00.25 to 0.350.44623738410.25 to 0.31
00.3 to 0.3520.45291428660.3 to 0.351
00.35 to 0.420.48025336830.35 to 0.40
00.4 to 0.4570.48812940940.4 to 0.454
0.03711464950.45 to 0.580.49138975770.45 to 0.56
0.12935207360.5 to 0.55160.49366411950.5 to 0.5515
0.12955575640.55 to 0.6220.49804064590.55 to 0.616
0.14785555250.6 to 0.65180.5014280430.6 to 0.6510
0.15148868630.65 to 0.7300.51535701130.65 to 0.725
0.1636838160.7 to 0.75320.51539635870.7 to 0.7523
0.17236903110.75 to 0.8390.51853441780.75 to 0.830
0.17650730340.8 to 0.85310.51923779230.8 to 0.8525
0.18153115880.85 to 0.9230.5219596220.85 to 0.919
0.18502076830.9 to 0.9590.52239108890.9 to 0.9510
0.18907295630.95 to 1110.52437829980.95 to 17
0.19413714651 to 1.0560.52685145671 to 1.055
0.21253686631.05 to 1.130.52986169151.05 to 1.13
0.23798960061.1 to 1.1560.53636859161.1 to 1.154
0.27034367621.15 to 1.230.53989037551.15 to 1.23
0.27849658721.2 to 1.2520.54206425711.2 to 1.252
0.27923948531.25 to 1.300.54458890651.25 to 1.30
0.27998499621.3 to 1.3510.54590547341.3 to 1.352
0.29305649181.35 to 1.410.55125447921.35 to 1.41
0.31257454531.4 to 1.4500.55888390171.4 to 1.450
0.31432685071.45 to 1.500.56237582851.45 to 1.52
0.37870455241.5 to 1.5520.56980555371.5 to 1.551
0.38166338571.55 to 1.620.5741408521.55 to 1.62
0.40107737641.6 to 1.6510.57500820531.6 to 1.650
0.41173725531.65 to 1.720.57563552621.65 to 1.71
0.41738211131.7 to 1.7500.58071171211.7 to 1.750
0.41802305591.75 to 1.800.5838530371.75 to 1.80
0.42782117371.8 to 1.8500.58448341181.8 to 1.850
0.43298062271.85 to 1.900.58530255291.85 to 1.90
0.44623728981.9 to 1.9500.59046723761.9 to 1.950
0.4522501851.95 to 200.59141040241.95 to 20
0.45291292912 to 2.0500.59282352342 to 2.050
0.45672219162.05 to 2.110.59368988812.05 to 2.10
0.46861646872.1 to 2.1510.59977784632.1 to 2.151
0.48019602892.15 to 2.200.60110896182.15 to 2.20
0.49138975522.2 to 2.2500.61087909682.2 to 2.250
0.49348898092.25 to 2.310.61374675172.25 to 2.31
0.49552365292.3 to 2.3500.61544422582.3 to 2.350
0.50036315772.35 to 2.400.62481136562.35 to 2.40
0.51539303952.4 to 2.4500.62516775792.4 to 2.450
0.51690613962.45 to 2.500.62925735372.45 to 2.51
0.5185344164> 2.550.6326319934> 2.52
0.52046924050.6329666002
0.52736876260.6426642455
0.52986010330.6556830602
0.53179918420.6568211517
0.53636698390.6594665048
0.53894962910.6615136048
0.53989037550.6639730765
0.54023255080.6642881427
0.54136681040.6681685624
0.54177830360.6693391569
0.54230938910.6710211389
0.54798911750.6731130005
0.55172413790.6765326344
0.55760542260.6766318528
0.56004629210.6771755873
0.56034949210.6804075269
0.56312710170.6811406539
0.57032910710.6829025716
0.57709389710.6863364792
0.57977522960.687172739
0.58074982390.6890634925
0.58315768710.6894475872
0.58384021830.6909341916
0.58440876820.6912691978
0.58447057930.6918715681
0.5852912610.6952708801
0.59182687470.6979397904
0.59282174650.7001321104
0.59346250710.7001666125
0.59404037720.7012882322
0.59638590460.7033815309
0.59823402760.7047746706
0.59905399360.7052100582
0.59988332230.7054779554
0.60151667930.7081150637
0.60592954160.7085106388
0.61390240750.7182746217
0.61603340840.7211232388
0.62647205030.7219806158
0.62828952820.7246504927
0.63039351390.7261238391
0.63085301440.7296158816
0.63231154260.729689168
0.63265044810.7308284215
0.63493169860.7380674097
0.63687898290.7423429407
0.63755506440.7461171957
0.638377070.7474575034
0.63880930340.7483826274
0.64016982260.7488496661
0.64228973330.7518587692
0.6476258510.7534863681
0.65247290780.7587834261
0.65856503990.7591567847
0.65950279710.7596229175
0.65962748940.7597219029
0.66419593030.7620681611
0.6671605250.7644139045
0.66799825860.7663671758
0.66871527160.7681204237
0.66893162240.7708582718
0.67070358840.7709532896
0.67536680760.7723590236
0.67538919230.7726687098
0.67605911280.7746528089
0.67665566560.7767425494
0.6773173860.7788723049
0.67902101910.7808676131
0.67952641960.782183689
0.68189100630.7881779116
0.68268320090.7883856286
0.68368533950.7908459278
0.68551177270.7909315921
0.68657909130.7915998715
0.68772875660.7940507104
0.68837248440.7951305817
0.68861999880.796734332
0.68874756220.7968180733
0.69007451610.7987007358
0.69319348690.7988546421
0.69406796460.802254822
0.69996419620.8044127707
0.70119509270.8065883254
0.70217659180.8114175659
0.7024253090.8142851683
0.70337916680.8158879342
0.70436964060.8172295914
0.70491675840.8257443921
0.7074620340.8269150515
0.70746624790.8271728659
0.70832571670.8277150584
0.70957653660.8285471186
0.71092150170.8289454724
0.71265911290.8305386553
0.7172583210.8308757613
0.71930261640.8343486922
0.72039022440.8367617055
0.7208279110.8372474176
0.7221139180.8372513906
0.72266646360.8448898388
0.72326618210.8457769511
0.72349001470.8458345472
0.72464835780.8471929208
0.72572977330.8479035164
0.73082626840.8490228303
0.73243989890.8509314915
0.73446818380.8520180087
0.73696392330.8591311354
0.7376298540.8715939163
0.7381704210.8722198209
0.74279023330.8727379508
0.74438729610.8738298224
0.74499930710.8756124934
0.7460111550.8771200467
0.75126208530.8780437351
0.75180177350.8781460579
0.75312446110.8809549864
0.75318352060.8854499102
0.75684914930.8859557062
0.75915667310.886472156
0.75962283350.88660118
0.76113121870.8910867671
0.76196586970.8981681434
0.76371863150.8995981233
0.76545460080.9117846835
0.76657839930.925285104
0.76925445230.927031073
0.77053560930.9270455554
0.77139760320.9289032
0.77235868770.9299719299
0.77352702730.9319145502
0.77582273160.9349331058
0.77885520440.9465993159
0.77900537730.9472157431
0.77923625480.9513393644
0.78005359220.9640665627
0.78218216120.9764402194
0.78497474660.9850099181
0.78539077720.9883824564
0.78555262490.9931819595
0.78759897770.9959354414
0.78820859551.00810788
0.78827626231.0090967768
0.78953005761.0101993626
0.79081864871.0211375828
0.79179671751.0295542489
0.79239257141.0551001611
0.7929075191.0801394617
0.79472320141.0958080468
0.79557250361.1010793799
0.79681798521.1085017046
0.79938692271.1307898888
0.79977189971.139223978
0.80040339341.150220988
0.80055672171.1656243341
0.8073622861.1709030955
0.8080969941.2112540475
0.81142893131.2139836983
0.81152579981.3091196261
0.81319514661.3466238088
0.81353142891.3686218525
0.81355843611.4702788713
0.81510581071.4994226704
0.81518249851.546120007
0.81937760671.5582413983
0.82152881571.5731041328
0.8220195721.6781130441
0.82448261692.1072769997
0.82669328922.260366075
0.82713491032.4901599733
0.82762830482.6611904263
0.83117386033.0887230219
0.832357582
0.8328904197
0.8331744152
0.8333018131
0.8343504111
0.8406114672
0.8448897672
0.8462306416
0.8480854734
0.8487736582
0.8491494559
0.8492238185
0.8508279743
0.8533915281
0.8556260946
0.8556772273
0.8584595121
0.8606647301
0.8633180305
0.8638824273
0.8697430457
0.8703881613
0.8727353796
0.8732445916
0.8756097264
0.8789586184
0.8800746129
0.8809523909
0.8854476794
0.8893826782
0.8910199023
0.8910375573
0.8965714287
0.8984634455
0.8989077432
0.9111305752
0.9124825884
0.9128298559
0.9286094798
0.9293917221
0.9318047083
0.9319145492
0.9349330024
0.9456917858
0.9560574474
0.964066421
0.9643835137
0.9679355976
0.9709166837
0.9834588322
0.9850098091
0.9858218688
0.988382234
0.9908659468
0.9931819579
1.0081202349
1.0172119578
1.0261639056
1.0327639071
1.0333458292
1.0387101856
1.0676226015
1.0679591762
1.0964918741
1.1010754989
1.1084779014
1.1130772132
1.1181479009
1.1479791308
1.1488652174
1.1668717494
1.1714329862
1.1820987227
1.2143485279
1.2152381627
1.3090595559
1.3792266933
1.5232755993
1.5387879399
1.5730319495
1.5806586259
1.6253553093
1.6779682464
1.6858545292
2.0789208317
2.1072689627
2.260527279
3.0949524812
5.8215395452
6.004488346
6.5912463336
7.5454804707
1.1.1 Chart
2
9
1
0
3
8
2
5
2
2
7
8
16
22
18
30
32
39
31
23
9
11
6
3
6
3
2
0
1
1
0
0
2
2
1
2
0
0
0
0
0
0
0
1
1
0
0
1
0
0
0
0
5
Frequency
Original ULR's - Motor
1.1.2 Chart
0
0
0
0
0
1
1
1
1
0
4
6
15
16
10
25
23
30
25
19
10
7
5
3
4
3
2
0
2
1
0
2
1
2
0
1
0
0
0
0
0
0
0
0
1
0
0
1
0
0
0
1
2
Frequency
Cleaned ULR's - Motor
1.2 Expenses
Gross Written Premium MotorGross Expenses Motor
84,6436,646
146,81310,383
67,7176,423
51,2774,949
61,8516,245
74,6497,248
108,4819,686
133,42011,210
180,69813,343
23,7293,216
31,8444,205
23,7454,825
16,8505,034
10,0104,010
4,8271,103
5,5991,241
9,5741,396
17,2972,108
26,9763,000
49,9379,302
26,1366,640
35,2478,307
49,3467,535
52,8208,781
17,7132,497
16,3501,815
103,85816,529
154,23122,543
184,06131,533
210,42436,848
244,94934,549
350,79741,950
436,67450,184
427,14553,026
565,25891,799
349,79453,667
365,47966,210
405,51868,077
572,59979,976
877,281160,855
56,0368,853
123,15920,281
144,56218,654
160,81813,617
200,55715,691
252,13126,207
236,73533,554
116,07319,635
231,89532,002
196,35225,795
117,69615,991
23,232691
41,5511,765
55,505744
32,3121,754
30,3251,377
23,377293
36,1593,303
81,6526,762
157,95914,900
2,4227,009
86,09227,614
9,5932,725
16,5582,582
16,3703,362
12,3474,068
19,2764,127
14,6424,404
3,746770
11,23281
8,834114
25,1421,081
50,1841,034
34,6922,286
72,9012,783
20,505404
23,0701,193
3,077534
21,3501,783
23,8943,127
32,0144,555
37,2524,774
57,0616,643
60,3655,723
61,0697,740
32,5915,228
74,3197,309
109,61015,563
142,95618,871
114,85632,917
117,49416,454
76,5128,005
83,3728,231
46,833632
129,5777,164
173,8969,480
211,99810,451
323,60012,587
387,07820,081
480,05545,835
645,04351,500
709,81075,487
803,39299,234
1,078,58499,545
718,72684,166
385,55321,971
216,00714,232
73,6692,577
2,7354,627
14,07265
10,060243
34,186822
88,7143,124
78,7428,974
121,45311,198
322,35829,137
400,17433,867
586,03536,283
435,91253,408
430,52828,419
97,5865,832
88,6266,903
115,65011,971
145,84315,865
211,79516,878
305,26034,037
408,45641,116
649,92477,749
534,03267,907
462,41077,417
458,80163,709
513,14667,618
959,614176,903
1,436,799138,080
1,676,448220,698
7,8271,128
16,0913,224
22,4925,837
26,8186,992
30,1348,224
42,3968,019
141,81822,416
166,02130,949
173,28534,298
332,98633,984
400,10843,924
487,91856,411
540,95955,900
642,57854,860
818,33759,679
979,00685,869
1,053,605100,678
1,671,207161,980
1,149,758102,257
1,245,579103,257
1,518,390146,349
1,909,858154,506
2,261,981168,046
2,737,561215,522
2,590139
13,731931
22,1692,282
22,1692,282
24,2433,169
33,595114
63741
6,35259
27,760162
17,96579
24,266128
26,941306
5,342490
7,710550
8,323651
9,074711
10,108937
15,2671,841
18,0921,830
18,4572,595
19,4223,082
19,3603,599
34,5243,370
98,8633,604
214,3154,677
214,5476,067
202,2167,781
281856
2,602387
17,12477
106,38213,945
191,78823,822
270,14932,505
3,58713,698
48,52430,997
83,79731,431
136,14834,859
55,20542,158
526,551133,593
852,801217,184
13,404908
27,7732,179
39,9893,911
43,8116,357
61,71711,108
117,78116,495
189,51024,971
280,63633,572
278,68140,574
284,70053,483
336,75943,375
446,10460,568
518,83364,602
659,22961,905
746,59466,430
1,016555
589799
2,5163,192
102,3283,172
327,84335,872
425,86748,312
434,10257,008
489,87863,665
648,80564,473
739,90673,402
794,98780,647
729,05897,773
681,26991,878
675,36495,159
744,14091,322
941,17574,497
1,123,13180,241
1,258,431103,861
1,324,862133,770
56,923150
71,5631,794
125,5132,808
67,2241,658
67,8323,434
134,5672,321
122,1682,298
59,1852,596
7,113145
24,076268
10,841287
8,825265
11,790410
12,752253
11,891329
2,3052,272
20,7233,259
455,70757,149
567,49863,361
634,04577,097
699,23882,245
816,70792,420
970,382106,547
1,163,042127,474
1,337,247147,895
1,890,194206,596
1,464,300181,430
1,536,198187,292
2,135,123276,015
2,743,820317,588
3,197,722411,388
3,555,624485,804
52,680401
2,765352
9,173419
20,6471,608
100,69015,610
162,09410,855
4,289260
8,060419
7,075673
3,425811
9,401883
10,680817
10,266855
11,0141,128
59,00710,910
74,36114,018
107,17215,566
126,28116,481
133,91217,965
136,05017,027
146,82119,110
151,45421,272
156,75017,738
163,99320,367
166,63320,579
198,69524,691
227,2396,029
29,4201,182
66,8593,046
78,9984,443
79,9124,620
3,7621,457
20,2263,703
66,0009,701
57,9138,820
58,1415,754
137,80412,994
6,0073,212
18,4955,292
37,1145,602
53,91913,125
56,37515,821
1.2 Chart
6646
10383
6422.5562097355
4949.1746303116
6245.0891436016
7247.6407233342
9685.6276737881
11210.3930264566
13343.0756970753
3216
4205
4825
5034
4010
1103
1241
1396
2108
3000
9302
6640
8307
7535
8781
2497
1815
16529
22543
31533
36848
34549
41950
50184
53026
91799
53667
66210
68077
79976
160855.28880436
8853
20281.159936407
18654
13616.71175
15690.94921
26207.018793729
33554.24
19635
32002
25794.9831843886
15991
691
1765
744
1753.7756879054
1376.5372249071
293
3303
6762
14900
7009
27613.7265396489
2725
2582
3362
4068
4127
4404
770
81
114
1081
1034
2286
2783
403.866577506
1193
533.9150167769
1783
3127
4555
4774
6643
5723.0188501024
7739.5294536331
5228
7309
15563
18871
32917
16454
8005
8231
632
7164
9480
10451
12586.6255603669
20081.492
45835.003
51500.321
75486.905
99234.267
99544.839
84166
21971
14232
2577
4627
65.1477424012
243
822
3124
8974
11198
29137
33867
36283
53408
28419
5832
6903
11971
15865
16878.1469381481
34036.7886126259
41116
77749
67907
77417
63709
67618
176903
138080
220698
1128
3224
5837
6992
8224
8019
22416
30949
34298
33984
43924
56411
55900
54860
59679
85869
100678
161980
102257
103257
146349
154506
168046
215522
139
931
2282
2282
3169
114
41.48876
59
162
79
128
306
490
550
651
711
937
1841
1830
2595
3082
3599
3370
3604
4677
6067
7781
856
387
77
13945
23822
32505
13698
30997
31431
34859
42158
133593
217184
908
2179
3911
6357
11108
16495
24971
33572
40574
53483
43375
60568
64602
61905
66430
555
799
3192.22285562
3171.594
35872
48312
57008
63665
64473
73402
80647
97773
91878
95159
91322
74497
80241
103861
133769.985956969
150
1794
2808
1658
3434
2321
2298
2596
145.2869073916
268
287
265
410.2681818182
253.3
329
2272
3258.5614442194
57149
63361
77097
82245
92420
106547
127474
147895
206596
181430
187292
276015
317588
411388
485804
401
352
419
1608
15610
10855
260
419
673
811.3
883
817
855.11884
1128
10910
14018
15566
16481
17965
17027
19110
21272
17738
20367
20579
24691
6029
1182
3046
4443
4620
1457
3703
9701.2548720823
8820
5754
12994
3212
5292
5602
13125
15821
Gross Expenses Motor
Gross Written Premium
Gross Exenses
1.3 Investments
All AssetsAssets Backing Actuarial LiabilitiesAssets after mapping to Actuarial Liabs
MappedNameFin YearCashNear CashFixed IntPropertyEquityOtherTOTALAssetsCashNear CashFixed IntPropertyEquityOtherTOTALAssetsCashNear CashFixed IntPropertyEquityOtherTOTALAssetsCurrent LiabilityActuarial LiabTotal Liabilities
1ABSA Insurance Company Limited2004234,072118,414468,9940.0906,1811,2791,728,940133,7960.0468,9940.051,5590.0654,3500.00.00.00.0854,6221,279855,901218690654349.638873039.638
2Ace Insurance Limited200443,6578,23621,6640.08250.074,3820.00.018,0780.00.00.018,0780.00.02,2170.08250.03,0425326218078.171340.1
3AECI Captive Insurance Company Limited200419,0928,9292,1400.042,0660.072,22719,0921,4342,1400.01,4260.024,0920.00.00.00.040,6400.040,640749524092.277378556131587.2773785561
4Aegis Insurance Company Limited20043,174288,8060.00.02,7270.0294,7073,1745,4110.00.00.00.08,5850.0256,1260.00.02,7270.0258,85327269858535854
5African General Insurance Company Limited20048,461470.00.090.08,5170.00.00.00.00.00.00.08,1710.00.00.090.08,1803370337
6Agri Risk Specialists Limited200416,69510,2310.06990.02,01129,6360.00.00.00.00.00.00.014,3780.00.00.00.02,01116,38912548012548
7Aig South Africa Limited2004597,207214,59834,6370.013,19315,070874,705207,6640.00.00.00.00.0207,66454,4260.034,6370.013,19315,070117,326549715207664.27757379.27
8AIM Insurance Limited20044,1510.00.00.00.00.04,1510.00.00.00.00.00.00.02,9660.00.00.00.00.02,966118501185
9Alexander Forbes Insurance Company Limited200430,5325,7930.00.00.00.036,32513,0260.00.00.00.00.013,02617,5063,6740.00.00.00.021,180211913025.915144.9
10Allianz Insurance limited200447,3119,2410.00.020,5800.077,13222,6550.00.00.00.00.022,6553,6300.00.00.020,5800.024,2103026722655.452922.4
11Attorneys Insurance Indemnity Fund200461,52177037,8040.0147,02479247,19857,7320.037,8040.052,5070.0148,0430.00.00.00.094,5177994,5964559148043.2152602.2
12AUTO & GENERAL INSURANCE CO LTD2004176,965239,3320.00.0101,62920,755538,681176,96523,6190.00.00.00.0200,5840.0126,4260.0686101,62920,755249,49689287200583.796959924289870.796959924
13Aviation Insurance Company Limited200428,48720,0600.00.012,62821361,38824,0530.00.00.00.00.024,0538110.00.00.012,62821313,6522368324052.7747735.77
14Bensure Insurance Underwriters Limited20046,6235420.00.05,2280.012,3931,2710.00.00.00.00.01,2715,3522320.00.05,2280.010,8123101270.921580.92
15CGU Insurance Limited200423,505159,85241,1960.0700,1490.0924,7020.00.00.00.00.00.00.023,505143,78541,1960.0700,1490.0908,63516067016067
16Compass Insurance Company Limited200444,19372,4890.00.00.04,113120,79544,1939,5510.00.00.00.053,7450.027,6470.00.00.04,11331,7603529153744.689035.6
17Constantia Insurance Company Limited2004115,88042,4590.01,63517,4092,223179,60754,9030.00.00.00.00.054,90325,7150.00.00.017,4092,22345,34877721.42654902.7316669123132624.157666912
18Credit Guarantee Insurance Corporation Of Africa Limited2004178,817133,1373,74310,559522,3834,256852,895138,5140.03,7430.0130,8140.0273,0710.00.00.00.0391,5694,256395,825173440273070.887839222446510.887839222
19Customer Protection Insurance Company Limited2004339,10338,0280.036,42985,0000.0498,560317,0690.00.00.00.00.0317,06922,03432,3500.00.085,0000.0139,3845678317068.85322746.85
20DENSECURE (PTY) LTD200447,2573,0760.00.00.019950,53219,0840.00.00.00.00.019,08427,5420.00.00.00.019927,741370719084.322791.3
21Dial Direct Insurance Limited200429,10623,5960.00.00.02,30255,00422,8400.00.00.00.00.022,8406,2663,1890.00.00.02,30211,7572040722840.40426343247.404263
22Emerald Insurance Company Limited2004117,80478,7670.00.052,3660.0248,93738,2580.00.00.00.00.038,25879,54648,4760.00.052,3660.0180,3883029138258.1268549.12
23Enpet Africa Insurance Limited200437,30827,6540.00.00.08565,04717,8570.00.00.00.00.017,85719,45126,7210.069,0100.085115,26793317856.9318789.93
24Export Credit Insurance Corporation of SA Ltd20041,029,361204,796708,1290.00.07561,943,042871,6760.0171,7340.00.00.01,043,4100.00.0536,3940.00.0756537,1503624811043410.183333331405891.18333333
25Federated Employers` Mutual Assurance Company Limited2004162,73025,301366,4300.0291,4622,552848,475110,0500.0261,0840.00.00.0371,1340.00.0105,3460.0291,4622,552399,36077981371134.2449115.2
26Ferrosure (SA) Insurance Company Limited200464,1494970.00.00.00.064,64610,2470.00.00.00.00.010,24747,5860.00.00.00.00.047,586681310247.1517060.15
27Fidelity Insurance Limited200426,11113,8970.00.01331740,15814,7140.00.00.00.00.014,71411,39711,6190.00.01331723,166227814713.716991.7
28FNB Credit Guarantee Limited200428,4673,2005,9570.00.00.037,6246,9040.00.00.00.00.06,90421,5621,6385,9570.00.00.029,1581561.66904.28465.8
29General Accident Insurance Company SA Ltd200480,5165,500165,3000.0172,9740.0424,29022,0000.00.00.00.00.022,00052,6970.0165,3003,720172,9740.0394,691113192200033319
30Global Insurance Company Limited20040.030,1160.00.00.011,32341,4390.09,7200.00.00.00.09,7200.020,3960.00.00.011,32331,71909720.3000972039720.300097203
31Guardian National Insurance Company Limited200410,970680,480167,1780.0126,5680.0985,19610,97085,9190.00.00.00.096,8890.0503,004167,1780.0126,5680.0796,7509155796888.7194026767188445.719402677
32Guardrisk Insurance Company Limited20041,229,497112,356145,3600.0317,6423,1561,808,0111,048,2490.0143,8900.00.00.01,192,1390.00.01,470950317,6423,156323,2182936041192139.11485743.1
33Hollard Insurance Company Limited,The20041,285,363761,0610.0686935,66717,0242,999,8011,285,36329,5650.00.0153,0150.01,467,9430.00.00.00.0782,65217,024799,6767314961467943.30690742199439.3069074
34Home Loan Guarantee Company200443,31813,47849,0580.065,076585171,5158,8460.00.00.00.00.08,84634,4727,39149,0580.065,076585156,58260878846.0514933.05
35Indequity Specialised Insurance Limited20046,7682170.00.00.01,9248,9091,2060.00.00.00.00.01,2065,4310.00.00.00.01,9247,3553481205.91553.9
36Investec Specialised Insurance Limited200425,8781,2150.00.00.02227,11521,1900.00.00.00.00.021,1904,688900.00.00.0224,800112521190.1322315.13
37Kagiso Risk Solutions Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0000
38Khula Credit Guarantee Limited200435,20519,39036,9090.050,5352,287144,32626,3160.032,8240.00.00.059,1400.00.04,0850.050,5352,28756,9072827959139.5187418.51
39Kingfisher Insurance Company Limited200472,5219,4500.00.00.00.081,9717,8940.00.00.00.00.07,89457,3110.00.08,4670.00.065,778167667894.3924660.39
40Lombard Insurance Company Limited200436,99912,6228,7070.015,16636273,85630,9330.03,5510.00.00.034,4840.00.05,1560.015,16636220,6841868834484.253061383353172.2530613833
41McSure Limited200466,6323,4100.00.038,5060.0108,54841,5020.00.02,1563,9830.047,6410.00.00.00.034,5230.034,5232854047640.676180.6
42Monarch Insurance Company Limited200488,77913,814208,0100.0146,2170.0456,82035,2720.0208,0100.020,4870.0263,7690.00.00.00.0125,7300.0125,73067321263768.98331089.98
43Mua Insurance Company Limited20042,7246,35941,9730.01,1676,48858,7110.00.018,5580.00.00.018,5580.00.015,4010.01,1676,48823,0561709718557.735654.7
44Mutual & Federal Insurance Company Limited20041,417,249529,19634,66669,0103,720,687113,9895,884,7971,320,0510.034,6660.01,460,0890.02,814,8060.00.00.00.02,260,598113,9892,374,5876263942814806.05865123441200.0586512
45Mutual & Federal Risk Financing Limited2004326,75395,6080.00.0181,5900.0603,951252,4320.00.00.00.00.0252,43274,32116,3600.00.0181,5900.0272,27179248252432.031414868331680.031414868
46National Insurers Limited200411,2652850.00.00.033211,8821,6580.00.00.00.00.01,6586,9220.00.00.00.03327,25429701657.94627.9
47Nedcor (SA) Insurance Company Limited2004173,2974,6790.00.029,0690.0207,045104,3980.00.00.00.00.0104,39845,6730.00.00.029,0690.074,74227905104398.3132303.3
48Nedcor Insurance Company Limited200435,8633,4140.00.00.00.039,2772,3270.00.00.00.00.02,32733,5361,6550.00.00.00.035,19117592326.784085.78
49Nedinsurance Company Limited2004158,07831,9170.00.0189102190,28690,8930.00.00.00.00.090,89363,7010.00.00.018910263,9923540190893.46126294.46
50New National Assurance Company Limited200488,02910,8640.03,7204,7461,330108,68955,3590.00.00.00.00.055,35920,5880.00.00.04,7461,33026,6642294655358.7778304.77
51Old Mutual Health Insurance Limited20042,54367,8130.00.03,8690.074,2251770.00.00.00.00.01772,36666,1680.00.03,8690.072,4031645177.391822.39
52Outsurance Holdings Limited200414,502162,4460.00.0141,90037318,8850.00.00.00.00.00.00.014,502162,4460.00.0141,90037318,885000
53Outsurance Insurance Company Limited2004272,42864,560957,49295080,00037,6871,413,1170.00.0607,9600.00.00.0607,9600.00.0343,2080.080,00037,687460,895343312607960.02951272.02
54Pick 'n Pay Insurance Company Limited2004118,0923,1150.00.00.00.0121,20715,1910.00.00.00.00.015,19189,5520.00.00.00.00.089,5521646415191.1931655.19
55Rand Mutual Assurance Company Limited200454,25951,014639,7440.01,255,1392,3762,002,5320.00.00.00.0342,8600.0342,8600.00.00.00.0654,2092,376656,5851003087342859.91345946.9
56Regent Insurance Company Limited2004200,131250,18096,2720.0188,8504,898740,331200,131131,8456,7540.00.00.0338,7300.00.089,5180.0188,8504,898283,266118335338730.44457065.44
57Relyant Insurance Company Limited200437,956226,2847,2550.016,044923288,46237,95611,0100.00.00.00.048,9660.0136,6357,2550.016,044923160,8577863948965.7127604.7
58RMB Structured Insurance Limited2004502,877296,48973,2280.057,285269930,148327,9070.00.00.00.00.0327,9078,7980.073,2280.057,285269139,580462661327907.4790568.4
59SA Eagle Insurance Company Limited2004674,545719,680331,2120.0737,03059,3832,521,850674,545461,89116,7290.00.00.01,153,1650.00.0314,4830.0737,03059,3831,110,8962577891153165.11410954.1
60SA Eagle Risk Financing Ltd2004233,40743,1840.08,4670.00.0285,058149,5680.00.00.00.00.0149,56883,83925,8350.00.00.00.0109,67417349149568166917
61Sabsure Limited200475,6505,7660.00.026,1110.0107,52726,1330.00.00.00.00.026,13348,2590.00.00.026,1110.074,370702426132.633156.6
62Safire Insurance Company Limited200416,6303,2590.02,156171422,7609,3750.00.00.00.00.09,3755,2430.00.00.017145,95852719375.37314646.373
63Sage Specialised Insurances Limited20047,8013,5530.00.06,491217,8471,8190.00.00.00.00.01,8195,9821,4660.00.06,491213,9412086.8161818.9243905.74
64Santam Limited20042,532,317987,312674,1860.05,242,50137,8879,474,2041,064,9930.0674,1860.01,041,1670.02,780,3460.00.00.00.04,201,33437,8874,239,2212454636.321692780345.947094185234982.26878418
65Santam Risk Finance Limited2004869,48722,452122,8020.086,6000.01,101,341674,7870.062,0480.00.00.0736,8340.00.060,7550.086,6000.0147,355217152.363736834.202231635953986.565231635
66Sasguard Insurance Company Limited200480,7062,2770.00.010,6520.093,63526,6910.00.00.00.00.026,69149,6220.00.00.010,6520.060,274667026690.78506663933360.785066639
67Shoprite Insurance Company Limited2004180,90411,7100.00.00.00.0192,614119,4100.00.00.00.00.0119,41048,0120.00.00.00.00.048,01225192119410.12144602.12
68South African Reserve Bank Captive Insurance Company Limited, The200438,00198,0771,4770.02230.0137,7781,9020.00.00.00.00.01,90236,09967,4561,4770.02230.0105,255306211901.732522.7
69Southern Insurance Association Limited20040.02,7810.00.00.00.02,7810.00.00.00.00.00.00.00.02,7810.00.00.00.02,781000
70Standard Insurance Limited200491,87517,32737,4930.0332,848985480,52848,1570.037,4930.059,7290.0145,3790.00.00.00.0273,119985274,10461045145379.12206424.12
71The Lion of Africa Insurance Company Limited2004232,72941,6320.00.011,8581,635287,854143,4550.00.00.00.00.0143,45552,9080.00.00.011,8581,63566,40177998143455.203221453.203
72TRUCK & GENERAL INSURANCE COMPANY LIMITED20042,78412,3910.00.0219215,2882,0770.00.00.00.00.02,0777076,3040.00.021927,124608720778164
73Unitrans Insurance Limited200490,51010,1030.00.00.09100,62282,9260.00.00.00.00.082,9267,5841,8540.00.00.099,447824982926.191175.1
74Westchester Insurance Company (Pty) Limited200457,49191,6880.00.010,1710.0159,3505,5780.00.00.00.00.05,57851,91390,7450.00.010,1710.0152,8299435578.176521.17
75Xl Insurance Company Limited200425,32122,850129,5440.00.0208177,9240.00.020,7220.00.00.020,7220.00.098,7540.00.020898,96258239.50220722.413108017778961.9151080177
SUM15,130,3897,315,1235,618,561134,31116,934,386361,93945,494,70810,305,376769,9652,830,9692,1563,317,6370.017,226,1031,296,5691,792,4702,122,07282,83313,358,679361,93919,014,562
33.3%16.1%12.3%0.3%37.2%0.8%100.0%59.8%4.5%16.4%0.0%19.3%0.0%100.0%6.8%9.4%11.2%0.4%70.3%1.9%100.0%
1.3.1 Chart
0.3325747073
0.1607906279
0.1234992146
0.00295223
0.37222759
0.0079556302
Industry Asset Distribution
1.3.2 Chart
0.5982418742
0.0446975824
0.1643418121
0.0001251589
0.1925935724
0
Assets Backing Actuarial Liabilities
1.3.3 Chart
0.0681882012
0.0942682541
0.1116024865
0.0043562929
0.7025499286
0.0190348367
Shareholders' Fund
1.4 Reinsurace
ProcessGross Written PremiumNet Written Premium
#MappedNameFinYearAccidentEngineeringGuaranteeLiabilityMiscMotorPropertyTransportGross Written Prem TotalAccidentEngineeringGuaranteeLiabilityMiscMotorPropertyTransportNet Written Prem TotalGrossNet
1ABSA Insurance Company Limited200427,775124,986119,004-5213,978180,698646,7071,5971,114,69319,163.00124,986.00118,419.00(5.00)13,593.00139,625.00585,546.001,134.001,002,461.00100%90%
2Ace Insurance Limited20046320.00.021,420171,31915,2020.038,590568.000.00.00.00.00.00.00.0568.00100%1%
3AECI Captive Insurance Company Limited20048560.071517,4500.08,51144,07419771,8030.00.0715.002,000.000.07,764.0010,774.00197.0021,450.00100%30%
4Aegis Insurance Company Limited20040.00.00.00.00.00.00.00.00.00.00.00.0(2,300.00)0.00.00.00.0(2,300.00)0%0%
5African General Insurance Company Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
6Agri Risk Specialists Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
7Aig South Africa Limited2004105,39465,548110,462243,695282,18252,820600,75845,4631,506,32273,649.007,457.0025,692.0023,979.001,880.0049,576.0030,596.0024,451.00237,280.00100%16%
8AIM Insurance Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
9Alexander Forbes Insurance Company Limited200422,8790.00.00.03516,35013,64215253,05814,893.000.00.00.035.0015,732.0013,119.00140.0043,919.00100%83%
10Allianz Insurance limited200434,6480.05,7660.00.070,6712,95584,0430.0(36.00)0.079.000.00.095.00(15.00)123.00100%0%
11Attorneys Insurance Indemnity Fund20040.00.00.039,4740.00.00.00.039,4740.00.00.033,252.000.00.00.00.033,252.00100%84%
12AUTO & GENERAL INSURANCE CO LTD20042,7160.00.00.056,599949,725126,1610.01,135,2011,549.250.00.00.035,532.86571,352.0279,900.780.0688,334.91100%61%
13Aviation Insurance Company Limited20040.00.00.09,4730.00.00.047,54757,0200.00.00.03,289.000.00.00.018,045.0021,334.00100%37%
14Bensure Insurance Underwriters Limited20047,4760.00.00.00.00.00.00.07,4767,476.000.00.00.00.00.00.00.07,476.00100%100%
15CGU Insurance Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
16Compass Insurance Company Limited20046,68336,0740.07,64323,333117,696170,7881,267363,4842,997.008,533.000.02,008.004,311.0034,970.0046,072.00335.0099,226.00100%27%
17Constantia Insurance Company Limited200411,5670.07,07912,399686,297168,5181,0850.0886,94511,567.000.04,430.002,639.0027,188.0085,389.001,085.000.0132,298.00100%15%
18Credit Guarantee Insurance Corporation Of Africa Limited20040.00.0678,5560.00.00.00.00.0678,5560.00.0309,855.000.00.00.00.00.0309,855.00100%46%
19Customer Protection Insurance Company Limited2004112,4410.00.00.0344,6696,50464,3200.0527,93477,193.000.00.00.0236,624.006,504.0044,157.000.0364,478.00100%69%
20DENSECURE (PTY) LTD20044,7465,6240.01,4991501,92711,9103,15329,0094,582.005,430.000.01,447.00145.001,861.005,604.003,044.0022,113.00100%76%
21Dial Direct Insurance Limited20040.00.00.00.05,72386,09213,5270.0105,3410.00.00.00.01,764.4526,331.624,082.710.032,178.79100%31%
22Emerald Insurance Company Limited20040.01100.00.028572,9011,8693,02678,1910.0110.000.00.0222.0052,216.00433.003,026.0056,007.00100%72%
23Enpet Africa Insurance Limited20042,0360.01,6129,5240.09,3876,8283029,4170.00.01,612.005,400.000.07,114.002,374.0030.0016,530.00100%56%
24Export Credit Insurance Corporation of SA Ltd20040.00.082,5910.00.00.00.00.082,5910.00.082,591.000.00.00.00.00.082,591.00100%100%
25Federated Employers` Mutual Assurance Company Limited20040.00.00.00.0115,1630.00.00.0115,1630.00.00.00.099,442.000.00.00.099,442.00100%86%
26Ferrosure (SA) Insurance Company Limited20041,0432413,9434,4050.02,65046,5264,80063,6081,049.000.02,202.002,322.000.01,523.0019,397.004.0026,497.00100%42%
27Fidelity Insurance Limited20041150.00.032,8040.07395850.034,24322.000.00.030,636.000.0393.00266.000.031,317.00100%91%
28FNB Credit Guarantee Limited20040.00.04,3410.00.00.00.00.04,3410.00.03,942.000.00.00.00.00.03,942.00100%91%
29General Accident Insurance Company SA Ltd20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
30Global Insurance Company Limited200412,084120.01274846,83353,01387112,20411,584.005.000.057.003.0040,846.002,025.0039.0054,559.00100%49%
31Guardian National Insurance Company Limited200451,039648737-3,576-93327,737-484130,679205,8476,625.00(17.00)1,544.001,343.004,044.004,683.00(990.00)605.0017,837.00100%9%
32Guardrisk Insurance Company Limited2004110,76139,93620556,925288,420430,528652,734128,4221,707,93161,563.0026,054.0055.0041,221.00156,377.00206,325.00479,064.0090,147.001,060,806.00100%62%
33Hollard Insurance Company Limited,The200494,090124,836206,19347,284739,7371,676,940529,216111,8963,530,19240,744.0047,245.00100,232.0026,207.00639,668.001,308,572.00312,589.0078,290.002,553,547.00100%72%
34Home Loan Guarantee Company20040.00.02,5650.00.00.00.00.02,5650.00.00.00.00.00.00.00.00.0100%0%
35Indequity Specialised Insurance Limited20045,3180.00.090.02,5111,0900.08,9281,179.000.00.08.000.02,268.00984.000.04,439.00100%50%
36Investec Specialised Insurance Limited20040.00.00.00.015,2070.00.00.015,2070.00.00.00.0892.000.00.00.0892.00100%6%
37Kagiso Risk Solutions Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
38Khula Credit Guarantee Limited20040.00.09,9030.00.00.00.00.09,9030.00.09,903.000.00.00.00.00.09,903.00100%100%
39Kingfisher Insurance Company Limited20041,05814,5420.02,4552,9350.037,8095,81764,61649.002,418.000.0120.00358.000.06,288.00967.0010,200.00100%16%
40Lombard Insurance Company Limited20040.00.036,8060.00.00.00.00.036,8060.00.010,831.000.00.00.00.00.010,831.00100%29%
41McSure Limited20040.00.00.00.00.042,3960.00.042,3960.00.00.00.00.042,396.000.00.042,396.00100%100%
42Monarch Insurance Company Limited20040.00.00.00.0337,0750.00.00.0337,0750.00.00.00.0207,992.000.00.00.0207,992.00100%62%
43Mua Insurance Company Limited20044510.00.00.00.0173,2850.00.0173,73690.000.00.00.00.042,020.000.00.042,110.00100%24%
44Mutual & Federal Insurance Company Limited200482,287296,5892,682102,95393,7982,739,3792,735,532136,7276,189,94767,296.00206,082.002,070.0092,497.006,892.002,736,530.002,459,343.00107,020.005,677,730.00100%92%
45Mutual & Federal Risk Financing Limited200441,683355,53810,3610.026,941574,310123,334782,20239,658.0035.005,538.0010,113.000.025,551.00552,724.0050,044.00683,663.00100%87%
46National Insurers Limited20040.00.00.00.00.00.03,8850.03,8850.00.00.00.00.00.02,589.000.02,589.00100%67%
47Nedcor (SA) Insurance Company Limited2004675-370.035,3960.01481,0036737,252(419.00)0.00.033,795.000.0(300.00)(25.00)2.0033,053.00100%89%
48Nedcor Insurance Company Limited20040.00.00.00.00.00.0-6320.0-6320.00.00.00.00.00.06,444.000.06,444.00100%-1020%
49Nedinsurance Company Limited20040.00.00.00.00.00.0443,1060.0443,1060.00.00.00.0159.000.0185,312.000.0185,471.00100%42%
50New National Assurance Company Limited20047376,0323733,94533,950202,21647,06017,066311,379141.00829.00135.00469.006,820.0066,949.006,695.002,443.0084,481.00100%27%
51Old Mutual Health Insurance Limited20049670.00.00.00.00.00.00.0967967.000.00.00.00.00.00.00.0967.00100%100%
52Outsurance Holdings Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
53Outsurance Insurance Company Limited20041770.0-12000.0932,668526,1881,2161,460,448177.000.0(1.00)200.000.0920,881.00509,631.001,198.001,432,086.00100%98%
54Pick 'n Pay Insurance Company Limited20042881210.03,45193995723,9720.029,728(113.00)14.000.0(2,215.00)30.00720.0014,871.000.013,307.00100%45%
55Rand Mutual Assurance Company Limited20048,4320.00.00.0230,8370.00.00.0239,2697,152.000.00.00.0220,877.000.00.00.0228,029.00100%95%
56Regent Insurance Company Limited200412,96768,3472,43127,28212,586746,59444,09018,972933,2692,824.1220,446.17853.485,078.753,426.48517,476.2814,137.713,553.00567,796.00100%61%
57Relyant Insurance Company Limited2004127,0630.00.00.0200,8770.0105,6400.0433,5808,156.000.00.00.06,334.000.08,147.000.022,637.00100%5%
58RMB Structured Insurance Limited20040.00.00.0275,551476,9160.0544,6780.01,297,1450.00.00.00.0439,305.000.076,579.000.0515,884.00100%40%
59SA Eagle Insurance Company Limited200420,927244,58316,70861,881525,0121,344,320539,22587,5852,840,24112,924.16204,567.0014,252.7451,446.13511,829.971,321,183.00236,751.0055,238.002,408,192.00100%85%
60SA Eagle Risk Financing Ltd200414,7960.00.014,79614,79659,18529,59314,796147,96214,171.000.00.014,171.0014,171.0056,686.0028,344.0014,171.00141,714.00100%96%
61Sabsure Limited20047,6905000.01,5001911,8910.025021,8507,382.00400.000.0200.0019.0011,415.000.0150.0019,566.00100%90%
62Safire Insurance Company Limited20043024530.01,8390.020,72327,38215250,851215.24322.860.0314.000.019,113.0020,322.58108.3340,396.00100%79%
63Sage Specialised Insurances Limited20040.00.00.0886,8430.00.00.06,9310.00.00.00.06,895.980.00.00.06,895.98100%99%
64Santam Limited2004240,175363,95483,096621,542515,2923,611,7842,718,429214,3008,368,572192,374.17253,741.5825,955.94248,655.70112,296.893,520,544.282,300,245.37175,012.136,828,826.05100%82%
65Santam Risk Finance Limited200478,7983,2925,69139,20088,439162,094107,07912,588497,18175,241.743,292.005,361.3532,165.8226,644.84128,948.8233,647.3310,186.05315,487.95100%63%
66Sasguard Insurance Company Limited2004224700.07,1524,96411,01415,7232,49141,638224.0070.000.05,261.004,964.0010,939.0011,414.002,308.0035,180.00100%84%
67Shoprite Insurance Company Limited200420,0380.00.00.016,6370.0103,9610.0140,63620,038.000.00.00.016,637.000.0103,961.000.0140,636.00100%100%
68South African Reserve Bank Captive Insurance Company Limited, The20043,6582460.04,6823,2395975,8252,48220,7293,319.0063.000.04,343.00200.00350.00382.00953.009,610.00100%46%
69Southern Insurance Association Limited20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
70Standard Insurance Limited200438,4040.00.07264,54779,912460,214205643,35438,001.000.00.021.0021,179.0022,748.00407,288.0058.00489,295.00100%76%
71The Lion of Africa Insurance Company Limited200410,20896,0247613,456105,841137,804184,57719,913567,8998,638.0020,208.0072.009,202.00(681.00)132,903.0083,407.006,685.00260,434.00100%46%
72TRUCK & GENERAL INSURANCE COMPANY LIMITED20040.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00%0%
73Unitrans Insurance Limited200423,9470.00.00.00.056,3750.00.080,32223,642.000.00.00.00.039,890.000.00.063,532.00100%79%
74Westchester Insurance Company (Pty) Limited200410,0820.043,2130.07,1020.032920,7307,784.000.04.001,213.000.06,652.000.0248.0015,901.00100%77%
75Xl Insurance Company Limited20040.02350.012,4110.00.047,1341,46561,2450.0(140.59)0.0(404.76)0.00.03,997.428.203,460.27100%6%
SUMAbs1,325,6881,497,6491,381,3101,749,6955,306,45214,227,77112,396,0041,141,02639,025,595866,336932,115726,265680,2282,828,07112,186,6408,709,669649,82527,579,148
866,336932,115726,265680,2282,828,07112,186,6408,709,669649,82527,579,148
Relative100%100%100%100%100%100%100%100%
65.3%62.2%52.6%38.9%53.3%85.7%70.3%57.0%
1.4.1 Chart
1325687.9218504866335.679018747
1497649.16932115.014862554
1381309.59005726264.507026788
1749695.017680227.652428584
5306452.287292452828071.47012715
14227771.053067712186640.0114419
12396004.04836988709668.8971504
1141025.97649824.713303067
Gross Written Premium
Net Written Premium
R(000)
Reinsurance - Industry GWP vs NWP (Absolute Scale)
1.4.2 Chart
0.6534989606
0.6223854289
0.5257796748
0.3887692688
0.532949571
0.8565389453
0.7026190749
0.5695091351
Net Written Premium
Reinsurance - Industry Average Retained Premiums (%)
1.4.3 Chart
11146931002461
38590568
7180321450
0-2300
00
00
1506322237280
00
5305843919
84043123
3947433252
1135201.25841688334.90725
5702021334
74767476
00
36348499226
886945132298
678556309855
527934364478
2900922113
105341.4856532178.78763
7819156007
2941716530
8259182591
11516399442
6360826497
3424331317
43413942
00
11220454559
20584717837
17079311060806
35301922553547
25650
89284439
15207892
00
99039903
6461610200
3680610831
4239642396
337075207992
17373642110
61899475677730
782202683663
38852589
3725233053
-6326444
443106185471
31137984481
967967
00
14604481432086
2972813307
239269228029
933269567796
43358022637
1297145515884
28402412408192
147962141714
2185019566
5085140396
6930.7196895.98
8368571.94157046828826.0490178
497181315487.953461382
4163835180
140636140636
207299610
00
643354489295
567899260434
00
8032263532
2073015901
61244.6433460.268
Gross Written Prem Total
Net Written Prem Total
R(000)
Reinsurance - Total GWP vs Total NWP (Per Company; Absolute Scale)
1.4.4 Chart
10.8993157757
10.0147188391
10.2987340362
00
00
00
10.1575227607
00
10.8277545328
10.0014635365
10.842377261
10.6063549544
10.3741494213
11
00
10.2729858811
10.1491614474
10.4566388036
10.6903855406
10.7622806715
10.3054711772
10.7162844829
10.5619199782
11
10.8634891415
10.4165670985
10.9145518792
10.9080856945
00
10.4862482621
10.0866517365
10.6211058878
10.7233450758
10
10.4971998208
10.0586571973
00
11
10.1578556395
10.2942726729
11
10.617049618
10.2423792421
10.91725018
10.8740235898
10.6664092664
10.8872812198
1-10.1962025316
10.4185702744
10.271312452
11
00
10.9805799316
10.4476251346
10.9530235843
10.6083947929
10.0522095115
10.3977072725
10.8478829789
10.9577729417
10.8954691076
10.7943993235
10.9949876773
10.8160085253
10.6345535197
10.8449012921
11
10.4636017174
00
10.7605377444
10.4585921088
00
10.7909663604
10.7670525808
10.0564991129
Gross
Net
R(000)
Reinsurance - Total GWP vs Total NWP (Per Company; Absolute Scale)
2.1 Motor ULR
Motor
EPULRFitted Mean ULRFitted Standard DevMeanSD
6110.41740.98310.5494a-0.22018694720.1240632223
7340.51850.97640.5345b1.46463521161.4869714591
18270.44620.94340.4676c-0.0306380557-0.1951094398
25191.13080.93200.4467
27090.19410.92940.4421
30820.87560.92490.4342
39492.26040.91620.4196
47462.49020.90990.4092
50510.41170.90770.4057
53722.10730.90560.4024
59830.65950.90190.3966
69290.77240.89680.3889
72110.68040.89550.3868
79190.70340.89230.3821
85130.48030.88980.3785
86150.63300.88940.3779
98460.88540.88490.3713
100600.92530.88410.3703
104903.08870.88270.3683
114150.88600.87990.3643
116780.92700.87910.3632
124310.65570.87700.3603
124780.79410.87690.3602
125071.02960.87680.3601
130270.85910.87540.3582
141320.58530.87270.3545
144160.66150.87200.3536
144500.81140.87200.3535
146320.95130.87150.3529
150141.21130.87070.3518
156741.67810.86920.3499
160330.82570.86850.3489
162560.72970.86800.3483
163780.74230.86780.3480
182110.87800.86420.3434
183931.49940.86390.3430
189251.54610.86300.3417
190730.81720.86270.3414
190940.61090.86270.3414
192170.79160.86250.3411
194110.74840.86210.3407
205760.70480.86020.3382
209380.76440.85960.3375
210620.84580.85940.3372
227250.70020.85690.3341
229150.79090.85660.3338
229450.75880.85660.3337
235050.88100.85580.3327
238801.09580.85530.3321
245741.15020.85430.3309
250001.55820.85380.3302
256120.87270.85300.3293
277171.00910.85040.3261
299000.89960.84790.3232
301140.94720.84770.3229
301800.70850.84760.3228
307670.75190.84700.3220
320400.71830.84560.3205
338720.88660.84380.3184
339730.92890.84370.3183
348621.08010.84290.3173
354800.73080.84230.3166
354820.52240.84230.3166
355131.02110.84230.3166
386300.76210.83950.3135
392150.87710.83910.3129
393860.72470.83890.3127
393930.87810.83890.3127
394290.54210.83890.3127
410890.99320.83750.3112
418110.87220.83700.3105
420170.69090.83680.3104
429451.21400.83610.3096
438750.72200.83540.3088
440891.01020.83530.3086
449900.93000.83460.3079
463961.30910.83360.3068
471250.45290.83310.3062
475380.77270.83280.3059
481500.51540.83240.3055
484740.84790.83220.3052
486370.68110.83210.3051
499860.82890.83120.3042
500120.96410.83120.3041
517970.69130.83010.3029
531870.75920.82920.3020
542810.81590.82860.3013
544771.34660.82840.3012
545000.91180.82840.3012
578101.57310.82650.2991
587130.64270.82600.2986
592430.99590.82570.2983
601210.79080.82530.2978
612050.53990.82470.2972
619030.40490.82430.2968
638320.75960.82340.2958
641670.78220.82320.2956
648080.76810.82290.2953
683320.59980.82120.2935
690640.85090.82080.2932
691320.84900.82080.2931
700390.94660.82040.2927
726690.85200.81920.2915
767960.77470.81750.2897
774281.10110.81720.2894
777380.53640.81710.2893
798451.10850.81620.2884
818690.84720.81540.2876
832280.97640.81490.2871
834180.82690.81480.2870
848400.92700.81430.2865
897530.98500.81250.2847
901650.66930.81240.2846
905371.13920.81220.2845
950341.36860.81070.2829
953450.74610.81060.2828
984330.82720.80960.2819
994870.89110.80930.2815
1004920.49140.80900.2812
1029100.98840.80820.2805
1082780.52990.80660.2790
1095851.05510.80620.2786
1154121.47030.80460.2770
1166740.56980.80430.2767
1308140.79680.80070.2733
1358410.87160.79950.2722
1364810.31430.79930.2721
1551450.23800.79530.2685
1612352.66120.79420.2674
1728990.83680.79200.2654
1739830.52690.79180.2653
1818151.17090.79040.2641
2007760.59370.78740.2614
2042030.74880.78680.2609
2072570.79870.78640.2605
2114271.16560.78580.2600
2126090.93490.78560.2598
2142050.76640.78540.2596
2146440.62480.78530.2596
2167710.84580.78500.2593
2176420.77100.78490.2592
2177530.66820.78490.2592
2241320.51920.78400.2585
2256330.67100.78380.2583
2287290.70550.78330.2579
2358830.58390.78240.2571
2410320.66430.78170.2566
2458730.70810.78110.2560
2870030.59280.77640.2521
2904030.72960.77600.2518
2916750.50140.77590.2517
2924460.57560.77580.2517
2928420.65680.77580.2516
3122140.82850.77380.2500
3147930.77890.77360.2498
3207250.54460.77300.2494
3211290.57500.77300.2493
3459390.68290.77070.2475
3473770.55130.77060.2474
3544930.55890.77000.2470
3695020.75350.76870.2460
3864920.59050.76730.2449
4006111.00810.76630.2441
4014270.60110.76620.2440
4142730.61540.76520.2433
4225970.63260.76460.2428
4252900.54590.76450.2427
4361860.72610.76370.2421
4434490.58450.76320.2417
4604730.52440.76210.2408
4730160.52200.76120.2402
4894580.62930.76020.2395
5087110.88650.75910.2386
5156300.79510.75870.2383
5361160.83720.75750.2374
5713520.61370.75560.2360
5781440.48810.75520.2358
6089410.56240.75370.2346
6190610.49370.75320.2343
6536980.51540.75160.2331
8329750.78090.74440.2281
8450060.58070.74400.2278
8924920.87380.74230.2267
8977490.49800.74220.2266
9039560.78840.74200.2264
9147150.80440.74160.2262
9208600.93190.74140.2261
9236660.81430.74130.2260
9400760.79890.74080.2257
9441200.68630.74070.2256
9525710.26960.74040.2254
10084030.72110.73870.2243
10149540.83050.73860.2242
10492160.84490.73760.2235
10743800.89820.73690.2230
10828460.83430.73670.2229
11145040.67650.73580.2223
11431170.82770.73510.2219
11689790.77090.73440.2214
11963960.68720.73370.2210
12370980.80230.73280.2204
12810660.68910.73170.2197
12878870.68940.73160.2196
13108900.70520.73110.2193
13538880.67720.73010.2187
13609990.67660.73000.2186
13630180.70130.72990.2186
14475610.83730.72820.2175
14943250.75970.72730.2169
15703750.83090.72580.2160
15853960.70010.72550.2158
16991910.80660.72350.2146
17854410.67310.72210.2137
18753880.59140.72070.2129
18970840.69190.72040.2127
20134560.79670.71860.2116
22094700.73810.71600.2101
22570470.74750.71540.2097
24051850.69530.71350.2086
25551340.78820.71180.2077
26967780.69790.71030.2068
27416360.66400.70980.2065
28629320.77670.70860.2058
31515000.62520.70580.2043
35466130.57410.70250.2025
2.1.1 Chart
0.4173821346
0.5185344178
0.4462373841
1.1307898888
0.194137147
0.8756124934
2.260366075
2.4901599733
0.4117372942
2.1072769997
0.6594665048
0.7723590236
0.6804075269
0.7033815309
0.4802533683
0.6329666002
0.8854499102
0.925285104
3.0887230219
0.8859557062
0.9270455554
0.6556830602
0.7940507104
1.0295542489
0.8591311354
0.5853025529
0.6615136048
0.8114175659
0.9513393644
1.2112540475
1.6781130441
0.8257443921
0.729689168
0.7423429407
0.8780437351
1.4994226704
1.546120007
0.8172295914
0.6108790968
0.7915998715
0.7483826274
0.7047746706
0.7644139045
0.8458345472
0.7001666125
0.7909315921
0.7587834261
0.8809549864
1.0958080468
1.150220988
1.5582413983
0.8727379508
1.0090967768
0.8995981233
0.9472157431
0.7085106388
0.7518587692
0.7182746217
0.88660118
0.9289032
1.0801394617
0.7308284215
0.5223910889
1.0211375828
0.7620681611
0.8771200467
0.7246504927
0.8781460579
0.5420642571
0.9931819595
0.8722198209
0.6909341916
1.2139836983
0.7219806158
1.0101993626
0.9299719299
1.3091196261
0.4529142866
0.7726687098
0.5153570113
0.8479035164
0.6811406539
0.8289454724
0.9640665627
0.6912691978
0.7591567847
0.8158879342
1.3466238088
0.9117846835
1.5731041328
0.6426642455
0.9959354414
0.7908459278
0.5398903755
0.4049394146
0.7596229175
0.782183689
0.7681204237
0.5997778463
0.8509314915
0.8490228303
0.9465993159
0.8520180087
0.7746528089
1.1010793799
0.5363685916
1.1085017046
0.8471929208
0.9764402194
0.8269150515
0.927031073
0.9850099181
0.6693391569
1.139223978
1.3686218525
0.7461171957
0.8271728659
0.8910867671
0.4913897577
0.9883824564
0.5298616915
1.0551001611
1.4702788713
0.5698055537
0.7968180733
0.8715939163
0.3143332991
0.2379896777
2.6611904263
0.8367617055
0.5268514567
1.1709030955
0.5936898881
0.7488496661
0.7987007358
1.1656243341
0.9349331058
0.7663671758
0.6248113656
0.8457769511
0.7709532896
0.6681685624
0.5192377923
0.6710211389
0.7054779554
0.583853037
0.6642881427
0.7081150637
0.5928235234
0.7296158816
0.501428043
0.5756355262
0.6568211517
0.8285471186
0.7788723049
0.5445889065
0.5750082053
0.6829025716
0.5512544792
0.5588839017
0.7534863681
0.5904672376
1.00810788
0.6011089618
0.6154442258
0.6326319934
0.5459054734
0.7261238391
0.5844834118
0.5243782998
0.521959622
0.6292573537
0.886472156
0.7951305817
0.8372474176
0.6137467517
0.4881294094
0.5623758285
0.4936641195
0.5153963587
0.7808676131
0.5807117121
0.8738298224
0.4980406459
0.7883856286
0.8044127707
0.9319145502
0.8142851683
0.7988546421
0.6863364792
0.2696240811
0.7211232388
0.8305386553
0.8448898388
0.8981681434
0.8343486922
0.6765326344
0.8277150584
0.7708582718
0.687172739
0.802254822
0.6890634925
0.6894475872
0.7052100582
0.6771755873
0.6766318528
0.7012882322
0.8372513906
0.7597219029
0.8308757613
0.7001321104
0.8065883254
0.6731130005
0.5914104024
0.6918715681
0.796734332
0.7380674097
0.7474575034
0.6952708801
0.7881779116
0.6979397904
0.6639730765
0.7767425494
0.6251677579
0.574140852
ULR
Gross Earned Premium (R000)
Ultimate loss ratio
Cleaned ULR - Motor
2.1.2 Chart
0.98310175860.5493823861
0.97637779850.5344723856
0.94340107810.4675629459
0.93199291610.4466726682
0.92943222040.4421338606
0.92490232810.4342364738
0.91623432180.4195848723
0.90985365770.4091762763
0.90770197020.4057367372
0.90557121460.4023651942
0.90186258820.3965780724
0.89682623240.3888817706
0.89546455720.386832686
0.89226427020.3820693675
0.88980410410.3784573209
0.88939887840.3778664725
0.88486751990.3713378204
0.88413958760.3703023538
0.88272619760.3683022757
0.8798728610.3643062431
0.87910411970.3632391133
0.87700154070.3603408021
0.87687620070.3601689658
0.87679755970.3600612058
0.87542948470.358193187
0.87269995440.3545034096
0.87203300110.3536093134
0.87195438160.3535041116
0.87153697650.3529462566
0.87067528060.3517982302
0.86923756340.349893584
0.86848198840.3488980147
0.86802155640.3482931515
0.86777325770.3479675345
0.86424222960.3433799318
0.86391245880.3429555611
0.86296436060.34173934
0.8627060890.3414090181
0.86266980150.3413626413
0.86245698130.3410908169
0.86212408830.3406662046
0.86019319090.3382170883
0.85961563520.3374890786
0.85942091280.3372441015
0.85690966970.3341059256
0.85663564440.3337658589
0.85659188890.3337116011
0.85579600120.332726746
0.85527441260.3320834345
0.85433144750.3309246534
0.85376508530.3302312871
0.85297022440.3292614875
0.85037669180.32612385
0.84789236220.3231563472
0.84765891810.3228793993
0.84758729430.3227944932
0.84695749780.3220492181
0.84563292320.3204894571
0.84381844910.3183696349
0.84372214420.3182576645
0.84287970320.317280504
0.84230790720.316619633
0.84230603290.3166174698
0.8422772590.3165842642
0.83954238130.3134501185
0.83905499790.3128961225
0.8389135940.3127356483
0.8389076820.3127289414
0.8388779970.3126952686
0.83754070510.3111835726
0.83697635980.310548699
0.83681759390.3103704192
0.83611033720.3095779781
0.83541677690.3088036441
0.83525949710.3086284267
0.83460576380.3079016361
0.83361145760.306800838
0.83310841290.3062460365
0.83282677550.3059360427
0.83241444440.3054829986
0.83219786280.3052454134
0.83208948980.305126629
0.83120810610.3041630072
0.8311912360.3041446053
0.83006221450.3029166641
0.8292106430.3019951583
0.82855627590.3012897745
0.82844048050.3011651971
0.82842691830.3011506111
0.82653401150.2991247273
0.82603700460.2985960559
0.82574939690.2982907399
0.82527782470.2977911067
0.82470545380.2971863001
0.82434273080.2968039414
0.82336097280.295772606
0.82319363070.2955973322
0.82287601640.2952650783
0.82118549350.2935057489
0.82084517250.2931534257
0.8208137810.2931209582
0.82039850850.2926919464
0.81922354670.2914830792
0.81746613860.2896885975
0.81720563460.2894239831
0.81707847770.2892949493
0.81622915670.2884352668
0.81543466060.2876344943
0.81491212770.2871096282
0.8148397880.2870370775
0.81430408240.2865006559
0.81252122850.2847261246
0.81237635730.2845826504
0.81224633430.2844539733
0.81071387550.2829439166
0.81061077450.2828427545
0.80960457220.2818583226
0.80926869110.2815308563
0.80895171920.281222351
0.80820238230.2804950549
0.80660151860.2789507796
0.80622418450.2785886614
0.80459601350.2770343181
0.8042547250.2767101815
0.80067045690.2733408661
0.79949184090.2722467247
0.7993450110.2721108934
0.79534903990.2684543276
0.79415192030.267373825
0.7919835060.265433997
0.7917898420.2652618304
0.79042549930.2640539357
0.7873586330.2613705057
0.78683629930.2609178274
0.78637833980.2605219743
0.78576428280.2599927082
0.78559242810.259844894
0.78536195160.2596468712
0.78529890720.2595927466
0.78499513730.2593322107
0.78487172760.2592264859
0.78485606620.2592130738
0.78396732410.2584538094
0.78376200670.2582789162
0.7833428980.2579225071
0.78239644420.257120579
0.78173329370.2565611093
0.78112303360.2560480141
0.77638907150.2521243747
0.77602960760.2518305023
0.77589620740.2517215883
0.77581557470.2516557942
0.77577431930.2516221418
0.77382165030.250037872
0.77357114680.2498358353
0.77300289910.2493785433
0.77296458150.249347758
0.77070268870.2475417615
0.77057677750.2474418768
0.76996145810.2469547256
0.76870426290.2459644377
0.76734313970.2448998785
0.76625817850.2440569337
0.76619667570.2440092989
0.76524523640.2432744228
0.76464479590.2428126088
0.7644530870.2426654786
0.76369023720.2420815382
0.76319257590.2417019
0.76205821350.2408404038
0.76124979550.2402296982
0.76022287390.239457812
0.7590646760.2385924442
0.75865941040.2382909378
0.75749170550.2374259366
0.75558680680.2360266961
0.75523358960.2357688479
0.7536838140.2346434209
0.7531921590.2342883909
0.75156994430.2331237774
0.74438097210.2280867109
0.74395729380.2277960812
0.74234360790.2266954045
0.74217042650.2265778667
0.741967290.226440143
0.74161856030.226204073
0.74142128070.2260707293
0.74133166650.2260102065
0.74081302090.2256605225
0.74068662480.2255754565
0.74042433360.225399123
0.73874943090.2242791946
0.73855920040.2241526589
0.7375844760.2235064119
0.73688924860.223047625
0.73665914030.222896168
0.7358147180.2223420429
0.73507252590.2218571679
0.73441797120.2214312215
0.73374018340.2209918055
0.73276293180.2203611879
0.73174379990.2197072327
0.73158893170.2196081855
0.73107283340.2192787347
0.73013268140.2186810505
0.72998016430.2185843894
0.7299370090.2185570539
0.72818682740.2174540512
0.72726344330.2168765016
0.72582358830.2159819235
0.7255477050.2158113504
0.72354131120.2145788452
0.72211077630.2137086325
0.72069287580.2128530754
0.72036136270.2126540373
0.71864732960.2116309328
0.71597895310.2100580108
0.71536808050.2097012917
0.71354772520.2086456825
0.7118191940.2076534953
0.71027984590.2067781771
0.70980966810.2065123658
0.70857696790.2058188851
0.70584833610.2043013072
0.70250325930.2024733452
Fitted Mean ULR
Fitted Standard Dev
Net Eanred Premium (R000)
Ultimate Loss Ratio
Cleaned ULR - Motor
2.2 Acc ULR
Accident
EPULRFitted Mean ULRFitted Standard DevMeanSD
664.333981.153717.7033a0.16929418090.3684504252
672.941111.150817.3396b1.74870010951135.6723918901
973.466921.101512.0241c-0.1373883947-1.0000035833
1090.252531.087310.7990
1250.235841.07049.4749
1760.057681.02876.8210
2241.245831.00075.4378
3951.427720.93833.2406
4770.845380.91872.7493
5421.094740.90572.4650
6370.400530.88952.1516
8870.731220.85751.6495
8901.095700.85721.6450
9111.517280.85501.6154
13000.751960.82231.2422
15490.338030.80671.1015
17372.079410.79681.0224
19570.141620.78660.9487
23810.766240.77020.8454
24260.400240.76860.8365
30120.125720.75110.7455
30480.890780.75010.7411
30812.491640.74930.7370
31950.536280.74640.7238
33310.134990.74310.7094
47280.600160.71610.6087
48770.214860.71380.6013
50960.274690.71050.5913
53120.324890.70750.5822
60730.545980.69760.5554
72720.908980.68470.5246
73520.462760.68400.5229
74231.109690.68330.5214
80290.460140.67780.5099
83410.144320.67510.5046
96590.528310.66500.4860
97180.077540.66460.4853
116410.633210.65250.4660
119130.404460.65090.4638
123900.883960.64830.4601
126581.364110.64690.4582
127790.691650.64630.4573
130450.922630.64500.4555
132220.474040.64410.4543
148930.042300.63640.4447
157850.643470.63270.4404
163020.119280.63060.4381
166581.032330.62920.4366
172661.502360.62700.4342
174910.427140.62620.4334
181850.496910.62370.4309
187700.446980.62180.4290
191030.388370.62070.4279
199430.685680.61800.4254
206910.321030.61570.4233
210490.363020.61470.4224
241460.429900.60640.4155
271560.269620.59940.4103
274010.738400.59880.4099
275780.489410.59850.4096
282311.097960.59710.4087
283560.262320.59680.4085
284230.343930.59670.4084
293990.863740.59470.4071
294820.589450.59460.4070
303170.388540.59290.4059
310811.083280.59150.4050
331370.667520.58780.4027
331780.348570.58770.4027
334511.047640.58720.4024
340181.067220.58630.4018
343070.796200.58580.4016
352750.821610.58420.4006
354930.659560.58380.4004
357280.435500.58350.4002
361470.631840.58280.3999
366950.977210.58200.3994
367060.361880.58190.3994
376780.603690.58050.3986
377710.913330.58030.3985
380010.289300.58000.3983
391030.375990.57840.3975
392010.363510.57820.3974
397960.461630.57740.3970
407520.618700.57610.3963
414680.398350.57510.3958
447170.599430.57090.3938
448090.535450.57080.3938
449210.646040.57060.3937
457280.127130.56970.3933
461790.570410.56910.3930
465140.686080.56870.3929
467081.105410.56850.3928
481040.689920.56690.3921
488380.633540.56610.3917
508531.700440.56390.3908
509170.538420.56380.3908
518352.888540.56280.3904
518390.659680.56280.3904
583930.288590.55640.3879
630560.717110.55240.3865
643190.360340.55130.3861
660530.477180.54990.3856
674230.187390.54890.3853
685360.341440.54800.3850
702790.207830.54670.3846
723300.169060.54520.3842
730670.114040.54470.3840
732420.393990.54460.3840
738600.214180.54410.3838
748100.700790.54350.3836
748180.554400.54350.3836
755460.290210.54300.3835
791380.444230.54060.3828
801250.336510.54000.3826
822610.345840.53860.3823
837560.322680.53770.3820
843200.328530.53740.3819
847720.297310.53710.3818
866260.241570.53600.3816
867930.635030.53590.3815
884650.431030.53500.3813
892870.143590.53450.3812
894990.273630.53440.3811
923240.490000.53280.3808
943230.410010.53180.3805
1016680.406200.52800.3796
1034370.568040.52720.3794
1066920.771970.52570.3791
1084310.597140.52490.3789
1333920.357520.51490.3770
1370190.626810.51360.3767
1681760.269930.50410.3752
1760280.377190.50200.3749
1838660.546940.50000.3746
1938330.592140.49760.3743
2022500.343410.49570.3741
2702310.309430.48300.3727
2.2.1 Chart
4.3339765641
2.9411072578
3.4669221894
0.2525348174
0.2358372673
0.0576826512
1.245830209
1.4277208067
0.8453827899
1.0947444616
0.400532653
0.7312165845
1.0957043971
1.5172843107
0.751960357
0.3380320318
2.0794074808
0.1416218709
0.7662377987
0.4002378858
0.1257209955
0.8907803029
2.4916357345
0.5362839027
0.1349896979
0.6001648544
0.2148624567
0.274687257
0.3248947595
0.545981167
0.908977389
0.4627642853
1.109688216
0.4601438544
0.1443228371
0.5283115122
0.0775392928
0.6332105355
0.4044550317
0.8839602269
1.3641115585
0.6916526286
0.9226328063
0.4740368311
0.0423022713
0.6434736273
0.1192837976
1.0323250895
1.5023643439
0.4271412065
0.4969133421
0.4469823826
0.3883701775
0.6856758787
0.3210280925
0.3630212645
0.4299018529
0.2696226142
0.7383956836
0.4894077355
1.0979630433
0.2623214589
0.3439274685
0.8637353724
0.5894512561
0.3885449879
1.0832766198
0.6675177268
0.348570869
1.0476414756
1.0672213815
0.796200189
0.8216061818
0.6595557873
0.4355043095
0.631841158
0.977206098
0.3618816796
0.603690077
0.9133299004
0.2892958993
0.3759877301
0.3635121808
0.4616322665
0.6186986923
0.3983479281
0.5994343481
0.5354471523
0.6460384572
0.1271260921
0.5704061657
0.6860801143
1.105413304
0.6899241984
0.6335377373
1.7004372102
0.5384193009
2.8885442445
0.6596837637
0.2885860613
0.7171064727
0.3603448658
0.4771789738
0.1873914955
0.3414408935
0.2078304213
0.1690568602
0.1140429856
0.3939861494
0.2141836323
0.7007890269
0.5544014312
0.290209002
0.4442317435
0.3365071123
0.3458402356
0.3226847453
0.3285274769
0.2973141832
0.2415730868
0.6350269053
0.4310330055
0.1435928477
0.2736278066
0.4900041575
0.4100050515
0.4062001695
0.56803806
0.7719728994
0.5971444469
0.3575233664
0.6268137053
0.2699267967
0.3771942484
0.5469372575
0.592136108
0.343409684
0.3094307991
ULR
Gross Earned Premium (R000)
Ultimate loss ratio
Cleaned ULR - Accident
2.2.2 Chart
1.153697757717.7033073817
1.150834424217.3396377646
1.101452458712.0240850673
1.08733875110.7990262657
1.07037474559.4749208786
1.0287191296.8210149186
1.00069863365.4377923123
0.93826968993.2405940021
0.91870314022.7492976273
0.90572637342.465046446
0.88952186512.1515737732
0.85752959771.6494620508
0.85719641111.6449549723
0.85498699821.6154124371
0.82228125451.2421528104
0.80671976331.1014755413
0.79679484351.022352312
0.78657851920.9487116097
0.77017423030.8454100014
0.76862631450.8365388059
0.75108774650.7455386411
0.75013483870.7410662061
0.74925951550.7369983069
0.74637080410.7238441448
0.74309034780.7093990591
0.7161329490.6086526197
0.71380477280.6013077332
0.71052582880.59129233
0.70745340960.582247207
0.69763596140.5554334478
0.68472325360.5246160203
0.68395381340.5229271041
0.68326579150.5214302674
0.67775438050.5098845792
0.67509972660.5045971368
0.66500824830.4860218592
0.66459355770.4853078465
0.65245917170.4660051278
0.65092840090.4637777314
0.64833976190.4601108007
0.6469291160.4581642676
0.64630701620.4573172361
0.64496058520.4555075682
0.6440785810.4543394228
0.63637928050.444703248
0.63266039090.4403931599
0.63061422360.4381126091
0.62924551190.4366221659
0.62698579070.4342216374
0.62617344660.4333766789
0.62373866430.4308999856
0.62176631790.42895386
0.62067318490.4278979658
0.61801213070.4253937652
0.61574925070.4233363896
0.61469685310.4224016244
0.60637649840.4154822594
0.59937879910.4102694019
0.59884734310.4098947275
0.59846879760.4096296236
0.59708968240.4086761307
0.59683014960.4084988407
0.59669212240.4084048276
0.59471414510.407078347
0.59455065370.406970426
0.59292138480.4059090728
0.59147534550.4049883074
0.58777667190.4027214838
0.58770583180.4026792802
0.58723453640.4023996411
0.58627006210.4018335156
0.58578637360.4015526803
0.58419676830.4006440405
0.58384529690.4004460656
0.5834694350.4002355149
0.5828071360.3998674153
0.58195365880.3993984874
0.58193653730.3993891425
0.58045784360.3985911921
0.58031752230.398516401
0.57997521860.398334625
0.57836609890.3974927671
0.57822407140.3974194538
0.57737899820.3969865269
0.57605003810.3963169964
0.5750783210.3958360623
0.57089476050.3938463191
0.57078201120.3937944687
0.57064347940.3937308867
0.56966263680.3932846319
0.56912371890.3930423451
0.56872728950.3928654224
0.56849891170.3927639989
0.56688624360.3920580941
0.56605990750.3917032879
0.56386276250.39078218
0.56379428640.3907539861
0.56282725010.3903590918
0.56282266280.390357233
0.55643872930.3878985891
0.5523738340.386460386
0.55133087950.3861065268
0.54993730210.3856430772
0.54886502750.3852936604
0.54801242140.3850202145
0.54670804180.3846092885
0.54521939630.3841510811
0.54469615060.3839927098
0.54457273230.3839555562
0.54413958910.3838257692
0.54348201940.3836305264
0.54347668380.3836289509
0.54297915480.3834826646
0.54060177180.3828003175
0.53997015130.38262359
0.53863262710.3822555378
0.53771993690.382009148
0.53738036720.381918451
0.53711017350.3818466583
0.53601829410.3815598886
0.53592158250.3815347456
0.53496175240.3812874568
0.53449728470.3811692469
0.53437822480.3811390971
0.53282305660.3807509027
0.53175461070.380490178
0.52803963260.3796203797
0.52719032250.3794293255
0.52567029440.3790944224
0.5248795920.378923721
0.51490068940.3769638519
0.51362927080.3767385056
0.50407142640.3752030057
0.50197913730.3749017909
0.49999394480.3746267822
0.49760409340.3743091813
0.49569250780.3740653793
0.48295337860.3726528399
Fitted Mean ULR
Fitted Standard Dev
Net Eanred Premium (R000)
Ultimate Loss Ratio
Cleaned ULR - Accident
2.3 Plane1
Min1.0000.250Const3.8284754429
MaxWP0.5147902325
Change50.4957.573WP^2-0.000051479
Extended5,000.000750.000UPR1.0934084825
UPR^2-0.000728939
WP*UPR0
GUPR
GWP0.37.815.423.030.538.145.753.360.868.476.083.691.198.7106.3113.8121.4129.0136.6144.1151.7159.3166.9174.4182.0189.6197.2204.7212.3219.9227.4235.0242.6250.2257.7265.3272.9280.5288.0295.6303.2310.8318.3325.9333.5341.0348.6356.2363.8371.3378.9386.5394.1401.6409.2416.8424.4431.9439.5447.1454.6462.2469.8477.4484.9492.5500.1507.7515.2522.8530.4537.9545.5553.1560.7568.2575.8583.4591.0598.5606.1613.7621.3628.8636.4644.0651.5659.1666.7674.3681.8689.4697.0704.6712.1719.7727.3734.9742.4750.0
11.04.6212.921.029.137.145.052.860.568.275.783.290.697.9105.2112.3119.4126.4133.3140.1146.8153.5160.0166.5172.9179.2185.4191.6197.6203.6209.5215.3221.1226.7232.3237.7243.1248.4253.7258.8263.9268.8273.7278.5283.3287.9292.5296.9301.3305.6309.9314.0318.0322.0325.9329.7333.4337.1340.6344.1347.5350.8354.0357.1360.2363.2366.0368.8371.6374.2376.7379.2381.6383.9386.1388.2390.3392.3394.1395.9397.6399.3400.8402.3403.7405.0406.2407.3408.4409.3410.2411.0411.7412.3412.9413.3413.7414.0414.2414.3414.4
251.530.538.746.954.962.970.878.686.494.0101.6109.1116.5123.8131.0138.2145.2152.2159.1165.9172.7179.3185.9192.4198.7205.1211.3217.4223.5229.5235.4241.2246.9252.6258.1263.6269.0274.3279.5284.7289.7294.7299.6304.4309.1313.8318.3322.8327.2331.5335.7339.8343.9347.9351.8355.6359.3362.9366.5370.0373.3376.6379.9383.0386.0389.0391.9394.7397.4400.1402.6405.1407.5409.8412.0414.1416.1418.1420.0421.8423.5425.1426.7428.1429.5430.8432.0433.2434.2435.2436.0436.8437.6438.2438.7439.2439.6439.9440.1440.2440.2
3102.056.164.372.580.588.596.4104.2112.0119.6127.2134.7142.1149.4156.6163.8170.8177.8184.7191.5198.3204.9211.5217.9224.3230.7236.9243.0249.1255.1261.0266.8272.5278.2283.7289.2294.6299.9305.1310.3315.3320.3325.2330.0334.7339.4343.9348.4352.8357.1361.3365.4369.5373.5377.4381.2384.9388.5392.1395.5398.9402.2405.5408.6411.6414.6417.5420.3423.0425.6428.2430.7433.0435.3437.6439.7441.7443.7445.6447.4449.1450.7452.3453.7455.1456.4457.6458.8459.8460.8461.6462.4463.1463.8464.3464.8465.2465.4465.7465.8465.8
4152.5
5203.0
6253.5
7304.0
8354.5
9405.0
10455.5
11505.9
12556.4
13606.9
14657.4
15707.9
16758.4
17808.9
18859.4
19909.9
20960.4
211,010.9
221,061.4
231,111.9
241,162.4
251,212.9
261,263.4
271,313.9
281,364.4
291,414.9
301,465.4
311,515.8
321,566.3
331,616.8
341,667.3
351,717.8
361,768.3
371,818.8
381,869.3
391,919.8
401,970.3
412,020.8
422,071.3
432,121.8
442,172.3
452,222.8
462,273.3
472,323.8
482,374.3
492,424.8
502,475.3
512,525.7
522,576.2
532,626.7
542,677.2
552,727.7
562,778.2
572,828.7
582,879.2
592,929.7
602,980.2
613,030.7
623,081.2
633,131.7
643,182.2
653,232.7
663,283.2
673,333.7
683,384.2
693,434.7
703,485.2
713,535.6
723,586.1
733,636.6
743,687.1
753,737.6
763,788.1
773,838.6
783,889.1
793,939.6
803,990.1
814,040.6
824,091.1
834,141.6
844,192.1
854,242.6
864,293.1
874,343.6
884,394.1
894,444.6
904,495.1
914,545.5
924,596.0
934,646.5
944,697.0
954,747.5
964,798.0
974,848.5
984,899.0
994,949.5
1005,000.0
2.3 Plane3
Min1.0000.250Const3.8284754429
MaxWP0.5147902325
Change50.4957.573WP^2-0.000051479
Extended5,000.000750.000UPR1.0934084825
UPR^2-0.000728939
WP*UPR0
GUPR
GWP0.37.815.423.030.538.145.753.360.868.476.083.691.198.7106.3113.8121.4129.0136.6144.1151.7159.3166.9174.4182.0189.6197.2204.7212.3219.9227.4235.0242.6250.2257.7265.3272.9280.5288.0295.6303.2310.8318.3325.9333.5341.0348.6356.2363.8371.3378.9386.5394.1401.6409.2416.8424.4431.9439.5447.1454.6462.2469.8477.4484.9492.5500.1507.7515.2522.8530.4537.9545.5553.1560.7568.2575.8583.4591.0598.5606.1613.7621.3628.8636.4644.0651.5659.1666.7674.3681.8689.4697.0704.6712.1719.7727.3734.9742.4750.0
11.04.6212.921.029.137.145.052.860.568.275.783.290.697.9105.2112.3119.4126.4133.3140.1146.8153.5160.0166.5172.9179.2185.4191.6197.6203.6209.5215.3221.1226.7232.3237.7243.1248.4253.7258.8263.9268.8273.7278.5283.3287.9292.5296.9301.3305.6309.9314.0318.0322.0325.9329.7333.4337.1340.6344.1347.5350.8354.0357.1360.2363.2366.0368.8371.6374.2376.7379.2381.6383.9386.1388.2390.3392.3394.1395.9397.6399.3400.8402.3403.7405.0406.2407.3408.4409.3410.2411.0411.7412.3412.9413.3413.7414.0414.2414.3414.4
251.530.538.746.954.962.970.878.686.494.0101.6109.1116.5123.8131.0138.2145.2152.2159.1165.9172.7179.3185.9192.4198.7205.1211.3217.4223.5229.5235.4241.2246.9252.6258.1263.6269.0274.3279.5284.7289.7294.7299.6304.4309.1313.8318.3322.8327.2331.5335.7339.8343.9347.9351.8355.6359.3362.9366.5370.0373.3376.6379.9383.0386.0389.0391.9394.7397.4400.1402.6405.1407.5409.8412.0414.1416.1418.1420.0421.8423.5425.1426.7428.1429.5430.8432.0433.2434.2435.2436.0436.8437.6438.2438.7439.2439.6439.9440.1440.2440.2
3102.056.164.372.580.588.596.4104.2112.0119.6127.2134.7142.1149.4156.6163.8170.8177.8184.7191.5198.3204.9211.5217.9224.3230.7236.9243.0249.1255.1261.0266.8272.5278.2283.7289.2294.6299.9305.1310.3315.3320.3325.2330.0334.7339.4343.9348.4352.8357.1361.3365.4369.5373.5377.4381.2384.9388.5392.1395.5398.9402.2405.5408.6411.6414.6417.5420.3423.0425.6428.2430.7433.0435.3437.6439.7441.7443.7445.6447.4449.1450.7452.3453.7455.1456.4457.6458.8459.8460.8461.6462.4463.1463.8464.3464.8465.2465.4465.7465.8465.8
4152.581.489.697.8105.9113.8121.7129.6137.3144.9152.5160.0167.4174.7181.9189.1196.2203.1210.0216.9223.6230.2236.8243.3249.7256.0262.2268.4274.4280.4286.3292.1297.8303.5309.0314.5319.9325.2330.4335.6340.7345.6350.5355.3360.0364.7369.2373.7378.1382.4386.6390.8394.8398.8402.7406.5410.2413.9417.4420.9424.3427.6430.8433.9437.0439.9442.8445.6448.3451.0453.5456.0458.4460.7462.9465.0467.1469.0470.9472.7474.4476.1477.6479.1480.5481.8483.0484.1485.1486.1487.0487.8488.5489.1489.7490.1490.5490.8491.0491.1491.2
5203.0106.5114.7122.9130.9138.9146.8154.6162.4170.0177.6185.1192.5199.8207.0214.2221.2228.2235.1241.9248.7255.3261.9268.4274.7281.1287.3293.4299.5305.5311.4317.2322.9328.6334.1339.6345.0350.3355.5360.7365.7370.7375.6380.4385.1389.8394.3398.8403.2407.5411.7415.8419.9423.9427.8431.6435.3438.9442.5445.9449.3452.6455.9459.0462.0465.0467.9470.7473.4476.1478.6481.1483.5485.8488.0490.1492.1494.1496.0497.8499.5501.1502.7504.1505.5506.8508.0509.2510.2511.2512.0512.8513.6514.2514.7515.2515.6515.9516.1516.2516.2
6253.5131.3139.5147.7155.7163.7171.6179.4187.2194.8202.4209.9217.3224.6231.8239.0246.0253.0259.9266.7273.5280.1286.7293.2299.6305.9312.1318.2324.3330.3336.2342.0347.7353.4358.9364.4369.8375.1380.3385.5390.5395.5400.4405.2409.9414.6419.1423.6428.0432.3436.5440.7444.7448.7452.6456.4460.1463.7467.3470.8474.1477.4480.7483.8486.9489.8492.
