New York–A Standard & Poor's study has found that reserving difficulties continue to haunt property-casualty insurers.
According to the S&P new research, p-c insurers boosted reserves for old business by $10 billion in 2004, which made it the sixth consecutive year of reserve hikes, following $14 billion in 2003 and $22 billion in 2002.
The S&P analysis, released this week at its annual insurance conference here, is titled "Amid Record Profits, Loss Reserving Remains A Sticky Issue For U.S. P-C Insurers."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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.
Already have an account? Sign In
© 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.
