Dec 21, 2015 04:43
8 yrs ago
Italian term
\"...ciascun U/Y migliori sensibilmente con la definizione delle code\"
Italian to English
Bus/Financial
Insurance
Notes to Financial Statements
Full sentence, which appears in a brief paragraph appearing in the notes to the financial statements of a reinsurance company, in relation to claims:
"Le analisi sulla tenuta del sistema di riservazione confermano come ciascun U/Y migliori sensibilmente con la definizione delle code."
Can anyone please shed any light on "U/Y" and confirm that "definizione delle code" here relates to defining the tails of a statistical distribution?
"Le analisi sulla tenuta del sistema di riservazione confermano come ciascun U/Y migliori sensibilmente con la definizione delle code."
Can anyone please shed any light on "U/Y" and confirm that "definizione delle code" here relates to defining the tails of a statistical distribution?
Proposed translations
(English)
4 +1 | U/Y |
Edgar Bettridge
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Proposed translations
+1
41 mins
Selected
U/Y
I think it's already in English: Underwriting Year. Little context here but it looks to me as if it is referring to the IBNR problem in long tail (re)insurance - so yes to your question. I.e. if you reinsure something like medical liability, it takes a long long time for all asbestosis cases to come to light. Therefore you have to make a large reserve for IBNR (Incurred But Not Reported) claims. As each year goes past, the actual reported claims for the year you accepted the reinsurance (the UY) will give you a better idea of what to expect (ie if you plot them on a graph and compare them with prior year experience you will see if you are higher or lower and what the ultimate outcome is likely to be).
Example sentence:
UY = underwriting year (anche per policies incepting e risks attaching).
4 KudoZ points awarded for this answer.
Comment: "Thanks Edgar - That's exactly what I was looking for, and the explanation was much appreciated."
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