AIG 2014 Annual Report Download - page 117
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ITEM 7 / RESULTS OF OPERATIONS / CONSUMER INSURANCE
100
EMEA net premiums written increased in 2013 compared to 2012, due to growth in all lines of Personal Insurance.
Personal Insurance Underwriting Ratios
The following tables present the Personal Insurance combined ratios based on GAAP data and reconciliation to the
accident year combined ratio, as adjusted:
Increase (Decrease)
Years Ended December 31, 2014 2013 2012
2014 vs. 2013 2013 vs. 2012
Loss ratio 54.2 56.8 59.3 (2.6) (2.5)
Catastrophe losses and reinstatement premiums (1.1) (0.7) (3.0) (0.4) 2.3
Prior year development net of premium adjustments 0.7 1.3 0.2 (0.6) 1.1
Net reserve discount benefit - - - - -
Accident year loss ratio, as adjusted 53.8 57.4 56.5 (3.6) 0.9
Acquisition ratio 27.2 26.2 25.3 1.0 0.9
General operating expense ratio 18.5 18.5 17.5 -1.0
Expense ratio 45.7 44.7 42.8 1.0 1.9
Combined ratio 99.9 101.5 102.1 (1.6) (0.6)
Catastrophe losses and reinstatement premiums (1.1) (0.7) (3.0) (0.4) 2.3
Prior year development net of premium adjustments 0.7 1.3 0.2 (0.6) 1.1
Net reserve discount benefit - - - - -
Accident year combined ratio, as adjusted 99.5 102.1 99.3 (2.6) 2.8
PERSONAL INSURANCE RATIOS