ACE Limited gave additional details Friday on the annualinternal and biennial external reviews of the company's Brandywinerun-off loss reserves, including asbestos and environmentalliabilities.
As a result of the internal review, ACE said it concluded thatits net loss reserves for the Brandywine operations were adequate,and therefore no change to the carried net reserve was required,while the gross loss reserves increased by approximately $200million.
The conclusions of the external review provided estimates ofultimate gross and net Brandywine liabilities that are lower thanthe same study two years ago. As a result, the difference in netloss reserves between the internal and external studies hasnarrowed to approximately $100 million after-tax, from $180 millionafter-tax two years ago, according to ACE.
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