1) Income in the numerator of ROE should always be post tax. In #25 F2017, there was no way to know how much income tax should be charged which is why that is fine.

1) How would one accurately know whether income is post-tax/pre-tax? 17F#25 (the word net isn't used either, but no tax removed)

For the insurance return to net EP, in the wiki the top of the equation says UW income - cap gains + inv income (from UW income) . How come it the solutions, cap gains was not subtracted like this:…

For letter a), we need to add some margin for excess growth. I'm not sure how to get the same amount than in the report. Actually there is two elements I don't understand. Unfortunately this part of …

I don't think this question intro is very clear. Maybe "...interactive rating IS an independent assessment of an insurer's ability to pay..." instead? Or two sentences. There are some typos…

Can anyone explain why the $30 is not amortized over the coverage period? Is this only applicable to directly attributable (as a rule of thumb)?

formula? The reason I ask is that, in 2014 Fall #25, contingent commission is added as a component of PolLiabs(UPR). Are there any other pieces of liabilities that we need to be aware of?

The question did not provide tax, so net income calculation is kind of confusing.

In the examiner's report solutions for part b, the ROR numerator does not subtract out the realized gains given in the question, $1000. Is there a reason for this?