What is the term for the ratio of incurred underwriting expenses to written premiums over a given period?

The term for the ratio of incurred underwriting expenses to written premiums over a given period is indeed the expense ratio. This ratio is crucial in the insurance industry as it helps assess the efficiency of the underwriting operations by showing how much of the premium income is used to cover the expenses related to the underwriting process.

A high expense ratio may indicate that a company is spending too much on administration or operational costs relative to its premium income, while a low expense ratio suggests more efficient management of underwriting expenses. This metric is vital for insurers to evaluate their profitability and ensure that they are operating within sustainable cost structures.

In contrast, loss ratio measures the ratio of losses paid and incurred to the premiums earned, the profit margin refers to the percentage of revenue that remains as profit after expenses, and the commission ratio pertains to the costs of commissions paid relative to premiums written. Each of these ratios serves different purposes in analyzing the financial performance of an insurance company.