U-Haul 2007 Annual Report Download - page 40
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The following table illustrates the change in unpaid loss and loss adjustment expenses. The first line represents
reserves as originally reported at the end of the stated year. The second section, reading down, represents cumulative
amounts paid as of the end of successive years with respect to that reserve. The third section, reading down,
represents revised estimates of the original recorded reserve as of the end of successive years. The last section
compares the latest revised estimated reserve
34
amount to the reserve amount as originally established. This last
section is cumulative and should not be totaled.
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Unpaid Loss and Loss
Adjustment Expenses 332,674$ 384,816$ 344,748$ 334,858$ 382,651$ 448,987$ 399,447$ 416,259$ 380,875$ 346,928$ 288,783$
Paid (Cumulative) as of:
One year later 89,336 103,752 82,936 117,025 130,471 130,070 100,851 73,384 44,677 40,116 -
Two years later 161,613 174,867 164,318 186,193 203,605 209,525 164,255 114,246 83,230 - -
Three years later 208,168 216,966 218,819 232,883 255,996 266,483 201,346 151,840 - - -
Four years later 232,726 246,819 255,134 264,517 299,681 295,268 233,898 - - - -
Five years later 250,312 269,425 274,819 295,997 320,629 322,191 - - - - -
Six years later 263,645 282,598 297,354 314,281 341,543 - - - - - -
Seven years later 274,249 300,814 311,963 331,385 - - - - - - -
Eight years later 289,614 314,322 327,141 - - - - - - - -
Nine years later 298,449 326,805 - - - - - - - - -
Ten years later 309,945 - - - - - - - - - -
Reserved Re-estimated as of:
One year later 354,776 357,733 339,602 383,264 433,222 454,510 471,029 447,524 388,859 326,386
Two years later 342,164 361,306 371,431 432,714 454,926 523,624 480,713 456,171 368,756 -
Three years later 346,578 369,598 429,160 437,712 517,361 500,566 521,319 435,549 - -
Four years later 349,810 398,899 413,476 480,200 543,554 571,045 502,922 - - -
Five years later 376,142 398,184 443,696 524,548 558,765 569,104 - - - -
Six years later 369,320 428,031 477,975 520,675 559,873 - - - - -
Seven years later 396,197 450,728 485,228 527,187 - - - - - -
Eight years later 423,928 461,082 496,484 - - - - - - -
Nine years later 418,177 469,869 - - - - - - - -
Ten years later 417,435 - - - - - - - - -
Cumulative Redundancy
(Deficiency) (84,761)$ (85,053)$ (151,736)$ (192,329)$ (177,222)$ (120,117)$ (103,475)$ (19,290)$ 12,119$ 20,542$
Retro Premium Recoverable 1,582 3,037 (1,879) 6,797 5,613 21,756 7,036 374 2,233 -
Re-estimated Reserve: Amount
(Cumulative) (83,179)$ (82,016)$ (153,615)$ (185,532)$ (171,609)$ (98,361)$ (96,439)$ (18,916)$ 14,352$ 20,542$
(In thousands)
December 31,
Unpaid Loss and Loss Adjustment Expenses