Past Problems May Hit Insurer Ratings

London Editor


The under-pricing, looser terms and conditions, and general under-reserving during the soft market have taken the luster off the current shine of hard market pricing, and added to the problems of adverse asbestos claims trends and other general insurance losses.

Reported losses and reserving increases are an indication of the sins of the pastboth near and short term, according to several ratings analysts, who are closely watching the operations of some major industry companies, such as Munich Re and The St. Paul Companies.

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