Question
A general insurance company reports the following:
• Premium earned: ₹100 crore • Claims paid: ₹70 crore • Claims outstanding: ₹5 crore • Commission paid: ₹10 crore • Operating expenses: ₹8 crore • Reinsurance premium ceded: ₹10 crore Calculate net premium income, total incurred claims, and underwriting profit/loss.Solution
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