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

Practice Next

More Accounts Questions

Meeta correctly remembers that her father’s birthday is after 8^th July but before 12^th July. Her brother correctly remembers tha...
If 84 × 13 = 8, 37 × 13 = 6, 26 × 11 = 6, then 56 × 22 = ?
If + means ÷, - means x, x means +, ÷ means –, Find the value for 72 + 8 – 5 × 18 ÷ 5.
When a number is added to its multiple of 5 and its square, the sum of these three numbers is 91. Find the number.

A general insurance company reports the following:

Solution