The Hartford 2014 Annual Report Download - page 52
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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 2,343 9 681 3,033
Current accident year before catastrophes 4,178 2,390 — 6,568
Current accident year catastrophes [3] 325 381 — 706
Prior accident years strengthening (release) 72 (141) 65 (4)
Less: Payments 4,014 2,772 312 7,098
Reinsurance and other recoverables 2,365 16 646 3,027
Earned premiums $ 6,259 $ 3,636
Loss and loss expense paid ratio [1] 64.1 76.2
Loss and loss expense incurred ratio 73.1 72.3
Prior accident years development (pts) [2] 1.2 (3.9)
[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] $ 84 $ 172 $ 256
Tornadoes [1] 30 40 70
Storm Sandy 207 143 350
Other [1][2] 4 26 30
[1] Amounts represent an aggregation of multiple catastrophes.
[2] Primarily includes wildfire.
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