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."
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