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The delay triangles given below relate to a portfolio of property insurance policies, for which it may be assumed that the claims are fully run

The delay triangles given below relate to a portfolio of property insurance policies, for which it may be assumed that the claims are fully run off by the end of development year 2. The cost of claims incurred each year is given in the table below:

Development Year
Accident Year 0 1 2
2019 2527 1447 587
2020 3388 1788
2021 4713

The number of reported claims each year is given in the table below:

Development Year
Accident Year 0 1 2
2019 130 65 10
2020 172 81
2021 256

Given that the total claims paid to date is 10,321 calculate the outstanding claims reserve for this cohort using the average cost per claim method.

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