The Hartford 2009 Annual Report Download - page 101
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101
SMALL COMMERCIAL
Underwriting Summary 2009 2008 2007
Written premiums $ 2,572 $ 2,696 $ 2,747
Change in unearned premium reserve (8) (28) 11
Earned premiums 2,580 2,724 2,736
Losses and loss adjustment expenses
Current accident year before catastrophes 1,396 1,447 1,594
Current accident year catastrophes 44 122 28
Prior accident years (36) (89) (209)
Total losses and loss adjustment expenses 1,404 1,480 1,413
Amortization of deferred policy acquisition costs 622 636 635
Insurance operating costs and expenses 159 171 180
Underwriting results $ 395 $ 437 $ 508
Premium Measures 2009 2008 2007
New business premium $ 482 $446 $481
Policy count retention 81% 82% 84%
Renewal written pricing increase (decrease) — (1%) (1%)
Renewal earned pricing increase (decrease) — (1%) —
Policies in-force end of period 1,077,189 1,055,463 1,038,542
Ratios 2009 2008 2007
Loss and loss adjustment expense ratio
Current accident year before catastrophes 54.1 53.1 58.3
Current accident year catastrophes 1.7 4.5 1.0
Prior accident years (1.4) (3.3) (7.6)
Total loss and loss adjustment expense ratio 54.4 54.3 51.6
Expense ratio 30.2 29.1 29.2
Policyholder dividend ratio — 0.5 0.6
Combined ratio 84.7 84.0 81.4
Catastrophe ratio
Current accident year 1.7 4.5 1.0
Prior accident years (0.1) (0.1) 0.2
Total catastrophe ratio 1.6 4.4 1.2
Combined ratio before catastrophes 83.1 79.6 80.3
Combined ratio before catastrophes and prior accident year
development 84.4 82.8 88.0