From a profitability perspective, 2018 will likely turn out to be a good year—maybe the best in more than a decade, in part because it started out quite well. The first half of 2018 produced a $6.0 billion underwriting gain vs. a $4.6 billion loss in the first half of 2017. It is too soon, however, to know how the storms of the third quarter will affect full-year underwriting results, but at the least this first-half profit will moderate any underwriting losses that emerge.
ANNUITY ADMINISTRATIVE CHARGES- Covers the cost of customer services for owners of variable annuities.
LOSS RESERVES- The company’s best estimate of what it will pay for claims, which is periodically readjusted. They represent a liability on the insurer’s balance sheet.See Full Glossary
FOR IMMEDIATE RELEASE Kim Kirchner, Coburn Communication: (212) 536-9837; Kim.Kirchner@coburnww.com New York Press Office: (212) 346-5500; email@example.com NEW YORK, October 11, 2018 — Reporters covering Hurricane Michael’s aftermath are encouraged to contact the Insurance Informatio… Read More
FOR IMMEDIATE RELEASE New York Press Office: Michael Barry, 917-923-8245, firstname.lastname@example.org Florida Press Office: Lynne McChristian, 813-480-6446, email@example.com Georgia Press Office: Bill Davis, 770-331-9279, firstname.lastname@example.org TALLAHASSEE, FLORIDA, October 9, 2018 –Reporters covering Hu… Read More