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The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields.
Loss reserving is the calculation of the required reserves for a tranche of insurance business, [1] including outstanding claims reserves.. Typically, the claims reserves represent the money which should be held by the insurer so as to be able to meet all future claims arising from policies currently in force and policies written in the past.
Ultimate loss amounts are necessary for determining an insurance company's carried reserves. They are also useful for determining adequate insurance premiums, when loss experience is used as a rating factor [4] [5] [6] Loss development factors are used in all triangular methods of loss reserving, [7] such as the chain-ladder method.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
The company was founded in May 2000 by Robert Clements and Peter A. Appel, with Appel as President and CEO. [3] [4] The company's predecessor entity, Risk Capital Holdings had previously sold substantially all of the reinsurance operations of Risk Capital Reinsurance Co., its wholly owned subsidiary, to Folksamerica Reinsurance Co., and the surviving vehicle was the entity used to form Arch ...
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Farmers Insurance is laying off 11% of its workforce — or about 2,400 workers — across all lines of its business. The California-based company said it is restructuring to be better positioned ...
In January 2000, Mark E. Watson III, a board member since 1999, became President and CEO. [7] The company moved its corporate office to San Antonio, Texas, in 2001.. The firm acquired Front Royal, Inc. [8] (along with its subsidiaries Colony and Rockwood), an insurance holding company headquartered in Morrisville, North Carolina, for $165 million in cash. [9]
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