NU Online News Service, June 22, 2:09 p.m. EDT

The property and casualty industry still has “robust” excess capital, but not as much as July 2010, according an analysis by Morgan Stanley.

“We found overall amounts [of excess capital] have decreased as lower excess reserves, capital deployment...worsening underwriting trends...and higher PMLs (probable maximum loss) from the new RMS 11 model led to lower capital levels than in our July 2010 analysis,” says Morgan Stanley in its report, “2011 Reserve & Capital Analysis: Excess Remains.”

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