U.S. P&C loss reserves position at year-end 2012 were adequate and unchanged compared to 2011, according to “Property/Casualty Industry Loss Reserve Adequacy,” a special report from Fitch Ratings.
Fitch projected net loss and loss-adjustment expense reserves were between $9.0 billion redundant to $11.5 billion deficient at year-end 2012, which as a percentage of total loss reserves is between 1.4 percent redundant to 1.9 percent deficient. “This result shows a relatively similar reserve position compared with year-end 2011,” Fitch said. “The range of redundancy for recent accident years has widened modestly and the high-end estimate of asbestos reserve deficiency has increased modestly.”
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