Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
Unico American's Claims Ratio % for the quarter that ended in Sep. 2022 was 114.00%
, which is higher than
62.00% for the pervious quarter ended in Jun. 2022.
Unico American's Claims Ratio % for the annual that ended in Dec. 2021 was 91.00%
, which is lower than
123.00% for the pervious year ended in Dec. 2020.
The historical rank and industry rank for Unico American's Claims Ratio % or its related term are showing as below:
UNAM's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
Unico American Claims Ratio % Historical Data
The historical data trend for Unico American's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Unico American's Claims Ratio %
For the Insurance - Property & Casualty subindustry, Unico American's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Unico American (OTCPK:UNAM) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Unico American (OTCPK:UNAM) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
Unico American Claims Ratio % Related Terms
Thank you for viewing the detailed overview of Unico American's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Unico American (Unico American) Business Description
Unico American Corp is an insurance holding company that underwrites property and casualty insurance; provides property, casualty, and health insurance; and provides insurance premium financing and membership association services. Its operations are categorized into two segments, the Insurance company operation and Other Insurance operations. The company receives its revenues primarily from premium derived from the insurance company operations, commission and fee income generated from the insurance agency operations, finance charges and fee income from the premium finance operations, and investment income from cash generated primarily from the insurance company operation.
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