Underwriting Expenses

Underwriting Expenses

The expenses associated with running an insurance agency. Underwriting expenses include salaries and commissions for agents, travel, training sessions, rent on offices and so forth. Underwriting expenses do not include taxes.
Mentioned in ?
References in periodicals archive ?
However, underwriting expense growth has outpaced premium growth through the first two quarters of 2015, with total underwriting expenses up 4.
Net insurance benefits, claims and total underwriting expenses for the nine month period September 2013 rose by 34 percent to N2.
It is believed that between 2006 and 2010, banks such as Citigroup Inc (NYSE :C), Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM), Merrill Lynch (NYSE: BAC) and Morgan Stanley (NYSE :MS) made payments to California-based business lobbying group, Cal PSA, and requested that those payments be reimbursed as underwriting expenses from the proceeds of municipal and state bond offerings.
Pressure was put on the rating by the company's relatively high underwriting expenses and significant catastrophe exposure.
risks, without reduction for underwriting expenses.
The improvement in underwriting results reflects the excess of growth in premiums over growth in loss and loss-adjustment expenses, other underwriting expenses, and dividends to policyholders.
Components of the expense include the fronting fees to an issuing insurer, reinsurance (specific and aggregate), captive management fees, underwriting expenses, actuarial services, claims handling, taxes and loss-control services.
The company's shares will raise more than $129 million after underwriting expenses and commissions.
Although the company's pure loss ratio compared favorably to the personal property composite average on a five-year average basis, elevated loss adjustment expenses and other underwriting expenses contributed to net underwriting losses in each of the past five years.
Applicants are required to submit at least one offer to meet the needs as defined in the Special Conditions of underwriting expenses (CCTP).
9 points off the combined ratio, improving the figure to 94, primarily from improvements in underwriting expenses.
The rating actions reflect LUA's poor underwriting results reported over the recent five-year period, which have been driven by large property losses in Canada, weather-related losses in the United States and above-average underwriting expenses," AM Best explained.