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December 31, 1991, net of losses for retroceded policies, were as
follows:
Taxable year Cumulative Reserves for Total expected
ending claims paid1 unpaid losses2 losses3
Dec. 31, 1991 $3,473,000 $19,410,000 $22,883,000
Dec. 31, 1992 4,183,000 19,258,000 23,441,000
Dec. 31, 1993 9,348,000 14,094,000 23,442,000
Dec. 31, 1994 12,135,000 12,756,000 24,891,000
Dec. 31, 1995 16,939,000 6,908,000 23,847,000
1 Cumulative claims paid were obtained from part 1 of schedule P of
Crossroads' annual statements filed with the Departments of Insurance for the
States of Florida and Louisiana for 1991 to 1995. For each year, cumulative
claims paid is the net of columns 5 and 6 for policy years before 1992.
Policy years after 1991 are excluded to obtain the relevant information for
reinsurance policies written as of Dec. 31, 1991.
2 Reserves for unpaid losses were obtained from part 1 of schedule P of
Crossroads' annual statements filed with the Departments of Insurance for the
States of Florida and Louisiana for 1991 to 1995. For each year, reserves for
unpaid losses are the total of column 23 (column 22 for 1991 and 1992) reduced
by reserves for policy years after 1991. Policy years after 1991 are excluded
to obtain the relevant information for reinsurance policies written as of Dec.
31, 1991.
3 Total expected losses are the sum of cumulative claims paid and
reserves for unpaid losses.
As of December 31, 1995, Crossroads' claims paid, reserves,
and total expected losses for reinsurance policies written as of
December 31, 1992, net of retroceded policies, were as follows:
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