AIG 2015 Annual Report Download - page 85
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ITEM 7 / RESULTS OF OPERATIONS / COMMERCIAL INSURANCE
85
Property Casualty Underwriting Ratios
The following tables present the Property Casualty combined ratios based on GAAP data and reconciliation to the
accident year combined ratio, as adjusted:
Years Ended December 31, Increase (Decrease)
2015 2014 2013
2015 vs. 2014 2014 vs. 2013
Loss ratio 86.2 71.6 71.9 14.6 (0.3)
Catastrophe losses and reinstatement premiums (2.9) (2.9) (3.4) -0.5
Prior year development net of premium adjustments (17.5) (2.8) (1.5) (14.7) (1.3)
Net reserve discount benefit (charge) 0.4 (0.3) (1.6) 0.7 1.3
Accident year loss ratio, as adjusted 66.2 65.6 65.4 0.6 0.2
Acquisition ratio 16.1 15.7 16.1 0.4 (0.4)
General operating expense ratio 12.7 12.9 13.6 (0.2) (0.7)
Expense ratio 28.8 28.6 29.7 0.2 (1.1)
Combined ratio 115.0 100.2 101.6 14.8 (1.4)
Catastrophe losses and reinstatement premiums (2.9) (2.9) (3.4) -0.5
Prior year development net of premium adjustments (17.5) (2.8) (1.5) (14.7) (1.3)
Net reserve discount benefit (charge) 0.4 (0.3) (1.6) 0.7 1.3
Accident year combined ratio, as adjusted 95.0 94.2 95.1 0.8 (0.9)
PROPERTY CASUALTY RATIOS
See Insurance Reserves – Non-Life Insurance Companies for further discussion of discounting of reserves and prior year
development.