NU Online News Service, Aug. 23, 1:45 p.m. EDT
U.S. property and casualty loss reserves remain within an adequate range as of year-end 2010, and the potential for large deficiencies emerging in the near-term is limited, according to a Fitch analysis.
But Fitch notes that while favorable reserve development trends have continued based on strong underwriting profitability from the previous hard market, that level of favorable reserve development "appears unsustainable." Fitch says that "incurred losses for accident years 2008-2010 are less likely to develop redundantly over time as prior hard-market underwriting periods experienced."
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