Fitch Finds P&C Sector May See Deficient Reserves
November 6th, 2009
The property and loss of market, partly because of losses from asbestos, has an increased risk of moving toward a position of insufficient reserves for the future, according to Fitch Ratings.
However, in its report on the adequacy of reserves, the New York-based firm said that even the possibility of a deficit looms, reserves to the United States and the PC industry were adequate at the end of 2008.
Report Fitch identified several factors figures showing a slight decline from recent levels of reserves.
According to Fitch’s analysis, the potential for the market to move towards a future reserve deficit is greater now because of several factors:
• Redundancy in loss reserves for the most recent years of accidents at the end of 2008 is closer to offset projected deficits by Fitch estimates asbestos and environmental losses, and other exhibitions in the previous year .
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