Page 52 - Annual Report 2021 EN
P. 52
/ 52 T ABLE OF C ONTENT S
L O S S /EXPENSE & C OMBINED RAT IO TREND
5. Combined ratio analysis
The combined ratio was below 100% over
the 12-month period ended 31 December
2021, similar to the corresponding 12-month
period ended 31 December 2020.
IO
T
IO & EXPENSE RA
IO
T
OMBINED RA
T
S RA C
S
O
L
Loss Ratio Expense Ratio Combined Ratio
