US P&C reserve buffer holds steady at $22bn
Excess reserves at US P&C (re)insurers will continue to provide a headwind against a turn in the cycle, as good loss experiences from prior years buffer recent events, according to a report by Aon Benfield Analytics.
US P&C (re)insurers had $22bn of undiscounted surplus statutory reserves at year-end 2010, the reinsurance broker said.
This leaves industry reserve redundancy at the end of 2010 just a fraction higher than the $21.9bn estimated at the end of 2009, in spite of $10.5bn...
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