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Models – Insurance

This page provides definitions of line items and ratios specific to the Insurance model. See the Industrial Model for line items common to all models.

Income Statement Items

Total Premiums: For insurance companies, total premium income (where available) is shown rather than Turnover.

Total Income:PREMIUMS less RE-INSURANCE COST less INCREASE IN UNEARNED PREMIUM PROVISION plus INCOME FROM INVESTMENTS plus INTEREST RECEIVED less OUTSIDE SHAREHOLDERS’ INTEREST.

Total Outgo:
COMMISSIONS PAID plus ADMINISTRATION COSTS plus INTEREST PAID plus POLICY PAYOUTS

Inc Over Outgo: Excess income over outgo
“Net profit” specifically for life assurance companies.

U/writ Splus: Underwriting Surplus
“Net profit” specifically for short term insurance companies.

NetTaxedSplus: Net taxed surplus
Insurance equivalent of income after tax. This is taken before preference dividends and extraordinary items.

Insurance Model Ratios

Solvency Mgn: Solvency Margin
[(TOTAL SHAREHOLDERS’ INTEREST) / (NET PREMIUM INCOME)] * 100 * (NUMBER OF MONTHS/12)
This gives an indication of how adequate shareholders funds are to cover expected claims (related directly to premium income).

 
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