NU Online News Service, March 4, 3:03 p.m. EST
As more evidence accumulates that insurers are using less reserves to augment earnings, pressure will mount on underwriting and force carriers to begin raising rates by near double-digit figures in 2012, according to a financial analyst.
In a report analyzing reserve releases among publicly traded insurers, Meyer Shields, with the firm Stifel Nicolaus, said that his review of 49 insurers’ fourth-quarter earnings results reveals the aggregate reserve release declined by 300 percent on a year-over-year basis.
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