Insurance Regulatory Information System (IRIS) - United States Agency ...
嚜澠nsurance Regulatory
Information System (IRIS)
Edgar P Balbin
Senior Manager, BearingPoint
EISA, Cairo, Egypt
21 May 2008
Agenda
?
?
?
?
Overview of IRIS
Explanation and calculation of IRIS ratios
IRIS ratio ranges and implications
Comparison of IRIS with EISA Early Warning
Ratios
2
Overview of IRIS
? Help regulators target resources on more risky companies
? To be supplemented by in-depth financial analysis and/or
on-site examinations
? 12 ratios: each with ※usual range§
? Falling outside usual range: requires attention
? On the average 11% of companies (US) have 4 or more
ratios falling outside the usual range
? Three possible levels of attention
每 Level A: high priority for review
每 Level B: may require review, but not immediate
每 Reviewed: no level
3
IRIS Ratios
? There are 12 IRIS ratios
? These are grouped into four areas
每
每
每
每
Overall ratios
Profitability ratios
Liquidity ratios
Reserve ratios
4
Overall Ratios
? Ratio 1 每 Gross premium written to policyholders*
surplus
? Ratio 2 每 Net premium written to policyholders*
surplus
? Ratio 3 每 Change in net premium written
? Ratio 4 每 Surplus aid to policyholders* surplus
5
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