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What is Munich Chain Ladder Overview about?
This document provides an introduction to the Munich Chain Ladder method for loss reserving based on a paper by Quarg and Mack. It presents sample paid and incurred loss data and demonstrates that paid and incurred development factors are correlated with prior period paid to incurred ratios. The Munich Chain Ladder model accounts for this dependency by modeling residuals of development factors as linear functions of prior period paid to incurred ratio residuals, with slope parameters lambda characterizing t
- Author
- Dumitru Tudor
- Language
- EN