Differences between IEE and Part 3 of U&IE - reinsurance
The last question in the wiki article (screenshot below) mentions that the IEE shows direct & net, but U&IE shows net only.
Is that last (highlighted) part completely true? I can't find that reference in the text. Plus, looking at an U&IE, it looks like direct and assumed are included for the first two expense categories. Granted, it's just there for two of the twenty-something categories, but it is there. I know these are the boring details, but I'm trying to think like a petty CAS grader...
Comments
The wiki note refers to the fact that IEE Parts II and III show net and direct expenses, respectively, and that U&IE Part 3 (Expenses) shows net expenses in the bottom-line totals. At the same time, it is also true that the net of the first two items of U&IE Part 3 are derived from direct/assumed/ceded.
Ahh, I think I'm following the intent.
I suppose I interpreted the question a little differently. I was assuming it was asking to 'identify other differences between [Part 1 of the] IEE and Part 3 of U&IE' (since both Parts exclusively pertain to expenses). And the since there are a few direct/assumed/ceded rows in the latter, I was getting tripped up on the absoluteness of 'net only'.
I probably was/am overthinking it.
Regardless, thanks for clarifying!