Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - HCC INSURANCE HOLDINGS INC/DE/ | d916881d10q.htm |
| EX-32.1 - EX-32.1 - HCC INSURANCE HOLDINGS INC/DE/ | d916881dex321.htm |
| EX-31.1 - EX-31.1 - HCC INSURANCE HOLDINGS INC/DE/ | d916881dex311.htm |
| EXCEL - IDEA: XBRL DOCUMENT - HCC INSURANCE HOLDINGS INC/DE/ | Financial_Report.xls |
| EX-31.2 - EX-31.2 - HCC INSURANCE HOLDINGS INC/DE/ | d916881dex312.htm |
Exhibit 12
HCC Insurance Holdings, Inc. and Subsidiaries
Statement of Ratios
(unaudited, in thousands except ratios)
| Three months ended March 31, | ||||||||
| 2015 | 2014 | |||||||
| Net loss ratio |
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| Loss and loss adjustment expense, net |
$ | 365,162 | $ | 330,746 | ||||
| Net earned premium |
600,563 | 562,612 | ||||||
| Net loss ratio |
60.8 | % | 58.8 | % | ||||
| (Net loss ratio = net loss and loss adjustment expense divided by net earned premium) |
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| Expense ratio |
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| Segment underwriting expense (1) |
$ | 154,324 | $ | 138,586 | ||||
| Segment net earned premium (2) |
600,566 | 562,321 | ||||||
| Expense ratio |
25.7 | % | 24.6 | % | ||||
| (Expense ratio = segment underwriting expense divided by segment net earned premium) |
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| Combined ratio |
86.5 | % | 83.4 | % | ||||
| (Combined ratio = net loss ratio plus expense ratio) |
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| Accident year net loss ratio |
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| Loss and loss adjustment expense, net |
$ | 365,162 | $ | 330,746 | ||||
| Add: Favorable (adverse) development |
- | - | ||||||
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| Accident year net loss and loss adjustment expense |
$ | 365,162 | $ | 330,746 | ||||
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| Net earned premium |
$ | 600,563 | $ | 562,612 | ||||
| Add: (Increase) decrease related to prior year reinstatement premium |
- | - | ||||||
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| Accident year net earned premium |
$ | 600,563 | $ | 562,612 | ||||
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| Accident year net loss ratio |
60.8 | % | 58.8 | % | ||||
| (Accident year net loss ratio = accident year net loss and loss adjustment expense divided by accident year net earned premium) |
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(1) Sum of Other Expense for each of our insurance segments.
(2) Sum of Net Earned Premium for each of our insurance segments.
HCC Insurance Holdings, Inc. and Subsidiaries
Statement of Ratios
(unaudited, in thousands except ratios)
| Three months ended March 31, | ||||||||
| 2015 | 2014 | |||||||
| Net paid loss ratio |
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| Losses paid, net of reinsurance |
$ | 388,538 | $ | 363,858 | ||||
| Net earned premium |
600,563 | 562,612 | ||||||
| Net paid loss ratio |
64.7 | % | 64.7 | % | ||||
| (Net paid loss ratio = losses paid, net of reinsurance, divided by net earned premium) |
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| Ratio of earnings to fixed charges |
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| Interest factor of rent expense (3) |
$ | 1,456 | $ | 1,359 | ||||
| Interest expense |
7,766 | 7,119 | ||||||
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| Total fixed charges |
$ | 9,222 | $ | 8,478 | ||||
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| Earnings before income tax expense |
$ | 150,828 | $ | 154,972 | ||||
| Interest factor of rent expense (3) |
1,456 | 1,359 | ||||||
| Interest expense |
7,766 | 7,119 | ||||||
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| Earnings per calculation |
$ | 160,050 | $ | 163,450 | ||||
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| Ratio of earnings to fixed charges (4) |
17.36 | 19.28 | ||||||
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(3) Estimated to be 33% of total rent expense.
(4) Earnings per calculation divided by total fixed charges.