The reserves for most general insurance lines have traditionally been held between 40-50%, and in some cases as much as 100%, of premium based on requirements of the repealed Insurance Act 1938 or the Income Tax laws without consideration of actual business experience and prudent practice. Such an approach obviously gives a completely distorted financial picture. The Insurance Ordinance 2000 has split the reserves under various heads and mandated that they be held on prudent basis.

Nauman Associates is providing services in this area. We also provide assistance to general insurance in pricing certain products, particularly for personal lines or the ones that have the longer tail of claims. Apart from fulfilling statutory environment, our objective is that clients develop a greater understanding of their business.

We offer the following services for General Insurance business:

• Reserve Calculations for unearned premium and and premium deficiency, as required under Insurance Ordinance 2000.
• Premium Determination for various lines, particularly the ones have relatively longer tail of claims.
• Statistical Studies to develop greater understanding of the business.
• Model Office Projections: assisting management in prudent and appropriate planning and budgeting by developing realistic business projections.