U-Haul 2008 Annual Report Download - page 34

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The following table illustrates the change in unpaid loss and loss adjustment expenses on a gross basis. The first
line represents gross reserves (reserves prior to the effects of reinsurance) 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
gross reserve as of the end of successive years. The last section compares the latest revised estimate of gross
reserves to the reserve amount as originally established for that year-end. The last section is cumulative and should
not be totaled.
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Unpaid Loss and Loss
Adjustment Expenses 384,816$ 344,748$ 334,858$ 382,651$ 448,987$ 399,447$ 416,259$ 380,875$ 346,928$ 288,783$ 288,410$
Paid (Cumulative) as of:
One year later 103,752 82,936 117,025 130,471 130,070 100,851 73,384 44,677 40,116 35,297 -
Two years later 174,867 164,318 186,193 203,605 209,525 164,255 114,246 83,230 73,235 - -
Three years later 216,966 218,819 232,883 255,996 266,483 201,346 151,840 115,955 - - -
Four years later 246,819 255,134 264,517 299,681 295,268 233,898 184,219 - - - -
Five years later 269,425 274,819 295,997 320,629 322,191 263,654 - - - - -
Six years later 282,598 297,354 314,281 341,543 346,733 - - - - - -
Seven years later 300,814 311,963 331,385 358,882 - - - - - - -
Eight years later 314,322 327,141 346,270 - - - - - - - -
Nine years later 326,805 340,190 - - - - - - - - -
Ten years later 337,163 - - - - - - - - - -
Reserved Re-estimated as of:
One year later 357,733 339,602 383,264 433,222 454,510 471,029 447,524 388,859 326,386 319,951
Two years later 361,306 371,431 432,714 454,926 523,624 480,713 456,171 368,756 357,135 -
Three years later 369,598 429,160 437,712 517,361 500,566 521,319 435,549 399,693 - -
Four years later 398,899 413,476 480,200 543,554 571,045 502,922 466,709 - - -
Five years later 398,184 443,696 524,548 558,765 569,104 537,610 - - - -
Six years later 428,031 477,975 520,675 559,873 608,159 - - - - -
Seven years later 450,728 485,228 527,187 583,904 - - - - - -
Eight years later 461,082 496,484 550,333 - - - - - - -
Nine years later 469,869 521,403 - - - - - - - -
Ten years later 497,251 - - - - - - - - -
Cumulative Redundancy
(Deficiency) (112,435)$ (176,655)$ (215,475)$ (201,253)$ (159,172)$ (138,163)$ (50,450)$ (18,818)$ (10,207)$ (31,168)$
Retro Premium Recoverable 3,037 (1,879) 6,797 5,613 21,756 7,036 374 2,233 - -
Re-estimated Reserve: Amount
(Cumulative) (109,398)$ (178,534)$ (208,678)$ (195,640)$ (137,416)$ (131,127)$ (50,076)$ (16,585)$ (10,207)$ (31,168)$
(In thousands)
December 31,
Unpaid Loss and Loss Adjustment Expenses
29