The Hartford 2008 Annual Report Download - page 182

Table of Contents
A rollforward of liabilities for unpaid losses and loss adjustment expenses by segment for Property & Casualty for the year
ended December 31, 2008 follows:
For the year ended December 31, 2008
Personal Small Middle Specialty Ongoing Other Total
Lines Commercial Market Commercial Operations Operations P&C
Beginning liabilities for unpaid
losses and loss adjustment
expenses-gross $ 2,042 $ 3,470 $ 4,697 $ 6,873 $ 17,082 $ 5,071 $ 22,153
Reinsurance and other recoverables 81 177 414 2,316 2,988 934 3,922
Beginning liabilities for unpaid
losses and loss adjustment
expenses-net 1,961 3,293 4,283 4,557 14,094 4,137 18,231
Provision for unpaid losses and loss
adjustment expenses
Current accident year before
catastrophes 2,542 1,447 1,460 941 6,390 — 6,390
Current accident year
catastrophes 258 122 116 47 543 — 543
Prior accident years (51) (89) (134) (81) (355) 129 (226)
Total provision for unpaid losses
and loss adjustment expenses 2,749 1,480 1,442 907 6,578 129 6,707
Payments (2,718) (1,377) (1,418) (593) (6,106) (485) (6,591)
Ending liabilities for unpaid losses
and loss adjustment
expenses-net 1,992 3,396 4,307 4,871 14,566 3,781 18,347
Reinsurance and other recoverables 60 176 437 2,110 2,783 803 3,586
Ending liabilities for unpaid losses
and loss adjustment
expenses-gross $ 2,052 $ 3,572 $ 4,744 $ 6,981 $ 17,349 $ 4,584 $ 21,933
Earned premiums $ 3,926 $ 2,724 $ 2,299 $ 1,382 $ 10,331 $ 7 $ 10,338
Loss and loss expense paid ratio [1] 69.2 50.5 61.6 42.8 59.1
Loss and loss expense incurred ratio 70.0 54.3 62.7 65.6 63.7
Prior accident year development
(pts.) [2] (1.3) (3.3) (5.9) (5.8) (3.4)
[1] The “loss and loss expense paid ratio” represents the ratio of paid losses and loss adjustment expenses to earned
premiums.
[2] “Prior accident year development (pts)” represents the ratio of prior accident year development to earned premiums.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009