kpark5
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Are you saying that Expected premium = premium received in practice problem 2. Expected premium = premium receivable in Q22. How can I know when to use what?
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For part (b), PPA LRC, can you explain why we use the first month premium expected to receive instead of UEP?
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I want to confirm that in part (b), we discount with duration = -1 for the CF in 2023, not with 0, because of 2 reasons: we need to discount to inception not to valuation date. & we assume capital is released at year-end. Can you correct please?
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For Q21, threshold 2, annual insurance revenue for the group is compared against the aggregate annual premium. Is it meant to compare against the entity's annual insurance revenue or is it the same as aggregate annual premium?
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In case that FAC is given in undiscounted basis, can we neglect discounting with assumption that FAC incur close to inception?
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For iii., can I focus on the fact that coverage period of commercial auto > 1 year, rather than "new market"? or "new market" alone is a reason that GMA needs be used? If so, why?