Ultimate Net Loss

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Ultimate Net Loss

The amount an insurance company pays on a claim after recouping some of its cost from reinsurance and other sources (but not premiums).
References in periodicals archive ?
Given the magnitude and recent occurrence of these events, and other uncertainties inherent in loss estimation, uncertainty remains regarding losses from these events and the Company's actual ultimate net losses from these events may vary materially from these estimates.
Given the preliminary nature of the information available, inadequacies in the data provided thus far by industry participants, the magnitude and recent occurrence of the events, the expected lengthy claims development period, in particular for the Chilean earthquake, and other factors and uncertainties inherent in loss estimation, meaningful uncertainty remains regarding losses from these events and the Company's actual ultimate net losses from these events will vary from these estimates, perhaps materially.
6 million of favorable development was due to better than expected claims emergence which resulted in a reduction in ultimate net losses associated with the 2005 hurricanes of $8.
As discussed in more detail below, the favorable development was principally driven by reductions in estimated ultimate net losses on the 2008, 2005 and 2004 hurricanes in the Company's catastrophe reinsurance unit.
0 million related to the Company's catastrophe reinsurance unit, principally attributable to a reduction in ultimate net losses associated with the 2004 hurricanes, Charley, Frances, Ivan and Jeanne ($11.
The favorable development within the Company's catastrophe reinsurance unit in 2009 was principally attributable to a reduction in ultimate net losses associated with the 2008 hurricanes, Gustav and Ike ($44.
6 million attributable to the Company's catastrophe reinsurance unit and was principally driven by a reduction of ultimate net losses from the 2005 accident year.
Accordingly, the actual ultimate net losses attributable to these two hurricane events may differ materially from Argo Group's preliminary estimates.
Accordingly, the Company's actual ultimate net losses from these events may vary materially from these preliminary estimates.
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