General Insurance Financial Overview
General Insurance: Global
Commercial Lines NPW grew
18%; AYCR, as adjusted
improved by 3.1 points in
FY'21
($M)
FY'20
FY'21
General Insurance Net Premiums Written ($M)
Net premiums written
Global Commercial Lines
$22,959
$25,890
Net premiums earned
+18%
$18,256
$23,662
$25,057
$15,509
+16%
Loss and loss adjustment expense
16,803
16,097
(Ex. FX)
Acquisition expenses
$8,030
Global Personal Insurance
$7,450
+2%
$7,634
+1%
(Ex. FX)
4,821
4,903
$6,874
General operating expenses
3,062
3,002
$6,127
$6,301
Underwriting income (loss)
($1,024)
$1,055
Net investment income
☐
General Insurance AYCR, as adjusted was 91.0, a 3.1 point
improvement from FY'20 due to improved NA and
$2,925
$3,304
$10,226
$8,635
Adjusted pre-tax income
International Commercial Lines and NA Personal Insurance
underwriting results
$1,901
$4,359
$1,149
$1,507
Note: Impact of CATS, pre-tax
■
General Insurance NPW increased by 13% to $25.9B from
FY'20 (11% on a constant dollar basis)
($2,428)
($1,357)
FY'20
FY'21
■North America
FY'20
International
FY'21
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Calendar Year Combined Ratios (CYCR)
Accident Year Combined Ratio (AYCR), as adjusted
AYCR, as adjusted improved
-3.1 points
CYCR improved
104.3%
-8.5 points
95.8%
94.1%
10.3%
5.4%
12.9%
12.9%
12.0%
20.4%
20.4%
19.6%
60.8%
59.4%
-0.1%
FY'20
-0.6%
FY'21
91.0%
12.0%
19.6%
60.8%
59.4%
FY'20
FY'21
■AYLR, As Adj.
Acq. Ratio
GOE Ratio
■PYD Ratio
CAT Ratio
■AYLR, As Adj.
Acq. Ratio
GOE Ratio
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