Wednesday, December 21, 2005

How to detect bad reserving

"If [an insurance company's] combined ratio is wonderfully regular, then it's probably crooked. It's also a bad sign if a company is consistently under-reserving." by Charlie Munger (May 8, 2001)
"Sometimes you can tell by the people that the numbers are good. For example, George Joseph of Mercury General is a genius and you know his numbers are right." by Charlie Munger (May 8, 2001)

No comments: