The Hartford 2014 Annual Report Download - page 48
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A roll-forward of property and casualty insurance product liabilities for unpaid losses and loss adjustment expenses follows:
Reinsurance and other recoverables 2,442 13 573 3,028
Current accident year before catastrophes 3,733 2,498 — 6,231
Current accident year catastrophes [3] 109 232 — 341
Prior accident years strengthening (release) 13 (46) 261 228
Less: Payments 3,665 2,679 367 6,711
Reinsurance and other recoverables 2,464 18 559 3,041
Earned premiums $ 6,289 $ 3,806
Loss and loss expense paid ratio [1] 58.3 70.4
Loss and loss expense incurred ratio 61.3 70.5
Prior accident years development (pts) [2] 0.2 (1.2)
[1] The “loss and loss expense paid ratio” represents the ratio of paid losses and loss adjustment expenses to earned premiums.
[2] “Prior accident years development (pts)” represents the ratio of prior accident years development to earned premiums.
[3] Contributing to the current accident year catastrophes losses were the following events:
Wind and hail [1] $ 45 $ 196 $ 241
Winter storms [1] 54 19 73
Other [2] 10 17 27
[1] These amounts represent an aggregation of multiple catastrophes.
[2] Includes tornadoes, earthquakes and flooding.
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