IRIS 13 Premium
In the IRIS 13 calculation of preliminary ratio and estimated loss and lae reserves required, should the premium used always be net of ceded? I didn't see a note about this in the source text, but the premium was net in problem 17 from Fall 2018.
Comments
Premium items are said to come from Income Statement item 1 of the various years. That item is net premium.
The reserve items all come from Schedule P Part 2, which is net of reinsurance. So, it makes sense that they are matched up with net premium.