how do you find out gross written premium if they provided loss ratio and claim paid
To calculate the cost of goods you have to substract the gross profit from total sales.
Sales (or revenue, it's the same thing) - cost of goods sold= Gross Profit
Gross Premium is the Total premium indicated to be charged.
Gross Profit = Sales - Cost of goods sold Gross profit margin = gross profit / Sales
Gross margin (also known as gross profit) is the difference between Net sales and Cost of goods sold: Net sales - Cost of goods sold = Gross margin Therefore, if you know Gross margin, add it to Cost of goods sold to get Net sales.
Cost of Goods Sold = Opening Stock + Purchasing - Ending Stock
From a financial reporting standpoint, no. Cost of Goods Sold (COGS) is shown on the income statement below sales as a deduction to calculate gross profit. Expenses are shown as a deduction from gross profit to calculate net profit.
Selling price = Cost of goods sold + Gross profit percentage on sales
Net Premiums written = Gross Written premium less deductions for commissions and ceded reinsurance.
It is your total premium paid.
You must subtract the cost of goods sold from the net sales to get the gross margin (same as gross profit)