3.3 Notation

For \(n \times n\) triangle and losses fully developed at \(n\)

Where \(i\) is exposure period and \(k\) is the age

• \(S_{ik} =\) Incremental Paid

• \(C_{ik} =\) Cumulative Paid

• \(U_i =\) Ultimate loss

• \(V_i =\) Exposure base

• \(m_k =\) expected loss ratio

• \(\hat{m}_k =\) estimate of \(m_k\)