General Insurance Financial Overview
Non-GAAP Reconciliations-
Accident Year Loss Ratio, as
adjusted, and Accident Year
Combined Ratio, as adjusted
General Insurance
Loss ratio
Catastrophe losses and
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Quarterly
2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'18 FY'19 FY'20 FY'21
63.0 69.3 65.6 66.8 72.6 74.6 70.2 65.6 61.3 68.4 61.8 75.7 65.2 71.0 64.2
65.7 88.6
80.1
63.1
reinstatement premiums
(2.3) (22.0) (11.3) (2.7) (2.6)
(7.5) (6.5) (6.9)
(9.0)
(11.9) (13.5)
(7.3) (2.1) (9.7) (2.9) (10.5)
(4.8) (10.3)
(5.4)
Prior year development, net of
reinsurance and prior year premiums
0.8
(2.7) (5.3)
1.0
0.9
2.2
0.9
0.8
80
(0.4) (0.9) 0.9
0.7
0.5
0.3
(1.5) 1.1
0.1
90
0.6
Adjustments for ceded premium under
reinsurance contracts and other
Accident year loss ratio, as adjusted
1.2
65.4
(0.3)
63.6
0.4 0.4
63.9 61.8
(0.3) 0.3
61.3 61.5 61.6
-
0.3
60.8
61.5 60.7 60.3 59.2 59.9
59.2
59.2
64.0 61.6
이영
0.1
-
60.8 59.4
Acquisition ratio
General operating expense ratio
Expense ratio
21.1
14.5
21.7 22.4 21.8
14.1 12.5 12.5
22.2 22.0 21.4 21.9 20.0
35.6 35.8 34.9 34.3
12.6
34.8
12.4 12.8
34.4 34.2
12.8
13.4
19.8
12.8
19.8 20.2 19.1
12.8
13.0
12.1
19.8
11.5
19.2
11.4
21.7 21.8 20.4 19.6
14.0
12.6
12.9
12.0
34.7 33.4 32.6 32.6 33.2 31.2 31.3 30.6
35.7 34.4 33.3 31.6
Combined ratio
101.3 124.4 115.0 97.4 97.8 103.7 99.8 101.5 106.0 107.2 102.8 98.8 92.5
Accident year combined ratio, as adjusted
101.0 99.4 98.8 96.1 96.1 95.9 95.8
95.5 94.9 93.3 92.9 92.4
91.1
99.7 92.4
90.5 89.8
111.4 99.6 104.3 95.8
99.7 96.0 94.1 91.0
Commercial Insurance
Quarterly
2Q'18
3Q'18 4Q'18 1Q'19 2Q'19
3Q'19 4Q'19 1Q'20 2Q'20
Loss ratio
73.7
93.8
88.1
67.5
69.6
75.8
Catastrophe losses and reinstatement premiums
Prior year development, net of reinsurance and
prior year premiums
(3.3)
(21.2)
(8.7)
(3.4)
(3.4)
(7.0)
74.7
70.4
81.6
(6.2) (8.6) (18.1)
3Q'20
80.1
4Q'20 1Q'21 2Q'21 3Q'21 4Q'21
76.0 69.1
63.8
86.4
65.8
(14.0) (11.6) (9.6) (2.2) (11.7) (3.7)
2.6
(1.8) (9.5)
0.7
2.1
0.1
(1.7)
2.3
23
1.9
(1.8)
(0.3)
33
1.3
+0
0.4
(12.8)
(0.2)
Adjustments for ceded premium under
reinsurance contracts and other
2.3
(0.4)
0.8
0.5
(0.4)
0.4
Accident year loss ratio, as adjusted
75.3
70.4
70.7
65.3
68.3
68.5
67.2
64.1
65.4
64.3
64.1
60.8
62.0
61.9
61.9
Acquisition ratio
16.2
16.9
17.9
16.9
17.6
17.4
16.6
18.3
16.4
16.1
16.4
17.7
16.7
16.9
16.0
General operating expense ratio
14.6
13.6
11.8
12.6
12.4
11.5
12.3
12.4
12.5
11.4
11.2
11.9
10.6
10.1
10.0
Expense ratio
30.8
30.5
29.7
29.5
30.0
28.9
28.9
30.7
28.9
27.5
27.6
29.6
27.3
27.0
26.0
Combined ratio
104.5
124.3
117.8
97.0
99.6 104.7 103.6
101.1
110.5
107.6
103.6
98.7
91.1
113.4
91.8
Accident year combined ratio, as adjusted
106.1
100.9
100.4
94.8
98.3
97.4
96.1
94.8
94.3
91.8
91.7
90.4
89.3
88.9
87.9
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