21. A general insurance company has recorded the following information: As of Date Accident Year 2012 2012 2012 2013 2013 2014 December 31, 2012 December 31, 2013 December 31, 2014 December 31, 2013 December 31, 2014 December 31, 2014 Cumulative Reported Claims ($000) 25,000 45,000 56,250 30,000 51,000 21,000 Assume there is no development beyond 36 months. Expected loss ratio for each year equals 70%. You are also given that the earned premiums as at the end of each year were $95,000,000, $72,300,000 and $55,750,000 respectively. Calculate the December 31, 2014 estimated discounted loss reserve using the Chain Ladder method (round all factors to 3 decimal places) using the mean factor model and a 4% annual effective rate of interest. Calculate the undiscounted loss reserves using the Bornhuetter-Ferguson method. Compute the ratio of the discounted loss reserves to undiscounted loss reserves? 21. A general insurance company has recorded the following information: As of Date Accident Year 2012 2012 2012 2013 2013 2014 December 31, 2012 December 31, 2013 December 31, 2014 December 31, 2013 December 31, 2014 December 31, 2014 Cumulative Reported Claims ($000) 25,000 45,000 56,250 30,000 51,000 21,000 Assume there is no development beyond 36 months. Expected loss ratio for each year equals 70%. You are also given that the earned premiums as at the end of each year were $95,000,000, $72,300,000 and $55,750,000 respectively. Calculate the December 31, 2014 estimated discounted loss reserve using the Chain Ladder method (round all factors to 3 decimal places) using the mean factor model and a 4% annual effective rate of interest. Calculate the undiscounted loss reserves using the Bornhuetter-Ferguson method. Compute the ratio of the discounted loss reserves to undiscounted loss reserves