While insurers continued to release reserves in 2012, the industry's reserve position remains “modestly redundant” and slightly stronger than in 2011 a new report says, likely thanks to rate increases and muted claims activity.
In its review of reserves at year-end 2012, Conning Research and Consulting says in its latest report, “2012 Property-Casualty Loss Reserves,” that in the “core casualty lines of business reviewed, the indicated redundancy is about 4.2 percent of reserves, compared to a 2.6 percent redundancy estimated at year-end 2011.”
Conning says reserve releases in 2012 totaled $10.5 billion, on par with releases seen in 2011, “but a bit more came from property and property-related lines such as homeowners.”
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