NU Online News Service, June 21, 3:30 p.m. EDT
The property and casualty insurance industry continued to have sufficient reserves through 2009, though adverse development of older-year losses and a downward trend in premium growth could reverse favorable reserve strengthening trends in the future, according to a Conning Research & Consulting report.
The industry's 2009 reserve position strengthened slightly, Conning said, despite $18.6 billion in reserve releases for the year. "In our view, the [p&c] industry reserve position has improved slightly in 2009, when compared with our previous analyses," said Stephan Christiansen, director of research at Conning.
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