Quote Originally Posted by Marilyn Munroe View Post
The Ohau release is slightly misleading in my opinion.

A claim being made against an insurance company is not an unexpected event. When a policy is issued a portion of the premium is transferred to provisions where it is set aside to meet expected claims. While a provision is obviously not an an exact determination of future events a customers house burning down is not a surprise.

It is only when claims exceed provisions and overtop excessive loss reinsurance the profit and loss takes a a hit.

Boop boop de do
Marilyn
So (as I sort of said) the Lake Ohau event claims are $5m to $7m higher than the provision set aside ...and will impact profit by this amount.

Suppose thats what they meant to so.