MSA Legend - NISR & GISR
Hi, on the legend, then compared with the revised 2024 version:
https://www.msaresearch.com/wp-content/uploads/2024/10/PC-KPIs-October-9-2024.pdf
It appears while GISR are the same (ISE/TIR), the NISR are different.
2023: NISR = ( ISE+NRE )/( TIR+reins prem )
2024: NISR = 1- ISR/TIR -> but we know that ISR = TIR+NRE-ISE, so this equation works out to be ( ISE-NRE )/TIR
Did I miss anything or did they actually updated it? Feels like 2023 is more correct as you take out the reinsurance premium in the denominator
Comments
I would say the 2023 one makes more sense to me. The old version is still what is listed on the CAS website so I would guess both interpretations will be accepted in the exam (old and new)