Allstate 2012 Annual Report Download - page 114
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Please find page 114 of the 2012 Allstate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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• Combined ratio – the ratio of claims and claims expense, amortization of DAC, operating costs and expenses, and
restructuring and related charges to premiums earned. The combined ratio is the sum of the loss ratio and the
expense ratio. The difference between 100% and the combined ratio represents underwriting income (loss) as a
percentage of premiums earned, or underwriting margin.
We have also calculated the following impacts of specific items on the GAAP operating ratios because of the
volatility of these items between fiscal periods.
• Effect of catastrophe losses on combined ratio – the percentage of catastrophe losses included in claims and claims
expense to premiums earned. This ratio includes prior year reserve reestimates of catastrophe losses.
• Effect of prior year reserve reestimates on combined ratio – the percentage of prior year reserve reestimates
included in claims and claims expense to premiums earned. This ratio includes prior year reserve reestimates of
catastrophe losses.
• Effect of business combination expenses and the amortization of purchased intangible assets on combined and
expense ratio – the percentage of business combination expenses and the amortization of purchased intangible
assets to premiums earned.
• Effect of restructuring and related charges on combined ratio – the percentage of restructuring and related charges
to premiums earned.
• Effect of Discontinued Lines and Coverages on combined ratio – the ratio of claims and claims expense and
operating costs and expenses in the Discontinued Lines and Coverages segment to Property-Liability premiums
earned. The sum of the effect of Discontinued Lines and Coverages on the combined ratio and the Allstate
Protection combined ratio is equal to the Property-Liability combined ratio.
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