While property-casualty reserves remained strong in 2007, signs have pointed to some deterioration in the industry's reserve position, according to a new Conning Research and Consulting Inc. study.
Their report, “Property-Casualty Loss Reserves: Thinner, But is the Tail Getting Fatter?” states that overall industry loss reserve adequacy remains positive, and even improved slightly, but it adds that “with a closer look at reserves aged more than 10 years, we see a need for additional strengthening in some lines of business, particularly in the reserves carried for those older years.”
For core reserves in the most recent 10 accident years, the study reports that reserves “appear redundant by about 8 percent in 2007,” which is up from 6.4 percent in 2006.
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