"Analysis shows that the reserving cycle has reached an inflection point and the pressures are likely to intensify in the current market environment given the historical relationship between falling prices and reserve deficiencies," said JLT Re global CEO Mike REYNOLDS.
"By analysing quarterly calendar year reserve developments since 1998 for the top 30 global (re)insurance companies and comparing them to accident year loss trends, pricing and previous cycles, our research shows that net sector deficiencies are now likely closer to adversely affecting the sector's income statement than any time since the early 2000s", David FLANDRO, Global Head of Analytics, JLT Re, said.
The complete report can be found here.
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