Page 236 - Reinsurance Management IC85
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The Insurance Times
Reinsurance share currency : 1 %
100 % Acccount Debit Credit
50,000
Premium 60,000
30,000
Portfolio Entry
10000
Premium 15,000
300 *
Loss 5,000
170300
Commission 20000 982.70
Taxes & Charges 1,500
Common a/c XL Premium 500
Claims Paid 30,000
Common a/c XL recovery
Premium Reserve retained 20000
Premium Reserve released
Interest on Premium Reserve
Tax deducted on interest 30
Credit for cash loss paid
Profit (balancing figure) 98270
170300
Reinsurnce share 1%
(98270 x 1%)
* No agreement between the insurance companies
that is why taken in credit
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