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.

A ₹90 cr, ₹75 cr, ₹3 cr loss

B ₹100 cr, ₹70 cr, ₹8 cr profit

C ₹90 cr, ₹75 cr, ₹7 cr loss

D ₹85 cr, ₹78 cr, ₹3 cr loss

E ₹95 cr, ₹80 cr, ₹5 cr profit

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Solution