A Review of the Little Report of Rates of Return in the Property and Liability Insurance Industry [Reply]

In a review of the Arthur D. Little ‘Report on Rates of Return in the Property and Liability Insurance Industry which was presented to the Casualty Actuarial Society November 16, 1969 at Atlanta, Georgia, I showed that the ADL formula omitted a substantial part of the total return for the insurance industry and that the rate of return, 3.6%) produced by the formula was therefore substantially understated.