A Method for Setting Retro Reserves [Discussion]

All actuaries, I believe, would agree that a reserve formula of any kind which eliminates the need for actuarial judgment will never be devised. The author of this paper, I am quite sure, would be the first to agree. Nevertheless, this does not stop actuaries from developing formulae and procedures to help us with our work. This is because a formula helps us to organize our thoughts and exercise our judgment in an orderly manner. The procedures and formulae in this paper are no exception.