NU Online News Service, Dec. 21, 1:54 p.m. EST

Reserve releases for U.S. property and casualty insurers through the 2011 third quarter totaled $11.4 billion, a 14 percent decrease compared to the same time period in 2010, according to Moody's Investors Service.

The rating agency also says in a Special Comment that while commercial lines still show overall redundancy, reserves for the most recent accident years, 2009 and 2010, are likely deficient. Moody's says it expects accident year 2011 reserve deficiencies in commercial lines to be equal to or slightly higher than 2010. Some carriers have already begun strengthening reserves for these years in select lines, Moody's says.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Commercial Lines
E&S/Specialty
Personal Lines
Workers' Comp