Insight and Intelligence on the London & International Insurance Markets

19 August 2017

Search archive

Travelers puts Ogden reserves hit at $62mn

Bernard Goyder 20 March 2017

Travelers is to set aside additional reserves of $62mn before tax in the first quarter of 2017 following the change to the UK discount rate for personal injury compensation.

The extra reserves mainly relate to UK public liability and commercial auto liabilities, said Travelers, which put the after-tax hit at $51mn.

Travelers noted that two-thirds of the claims exposure stems from legacy books that are now in run-off.

The insurer shrugged off the increase to its prior-year loss reserves, noting:...


If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership



Share:

Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2017. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π