Net Reserve Development From Prior Years (USD Mil) is the difference between the final losses recorded by an insurer and what the insurer originally recorded.
The historical rank and industry rank for Assurant's Net Reserve Development From Prior Years (USD Mil) or its related term are showing as below:
Assurant Net Reserve Development From Prior Years (USD Mil) Historical Data
The historical data trend for Assurant's Net Reserve Development From Prior Years (USD Mil) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
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Assurant (NYSE:AIZP.PFD) Net Reserve Development From Prior Years (USD Mil) Explanation
Net Reserve Development From Prior Years (USD Mil) is the difference between the final losses recorded by an insurer and what the insurer originally recorded. Prior years’ loss reserve development is useful to the company's management team, as it allows them to assess the impact of incurred claims from previous calendar years on current period earnings.
Generally, lower Prior Years’ Reserve Development is better because it means a higher accuracy on predicting the loss on incurred claims.
Assurant Net Reserve Development From Prior Years (USD Mil) Related Terms
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Assurant Inc offers a range of property-casualty, health, employee benefit, and warranty insurance to a client base made up of individuals and institutions. Its segments are Global Housing, Global Lifestyle, Corporate and Other. Global Housing segment, the key revenue-generating segment, provides lender-placed homeowners insurance, lender-placed manufactured housing insurance and lender-placed flood insurance; renters insurance and related products; and voluntary manufactured housing insurance, voluntary homeowners insurance and other specialty products. Global Lifestyle provides mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances; vehicle protection; and credit protection and other insurance products.
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