Property/casualty insurers are likely to continue making reserve releases next year, as the industry is expected to post a redundancy at the end of 2012, according to industry analysts. "We didn't expect [the industry reserve position] to be favorable this long. ... Obviously, that won't go on forever, but it still is providing the industry a cushion," said Alan Murray of Moody's Investors Service. Fitch's James Auden said analysts "keep thinking it's going to be done, but it continues to surprise," adding that favorable development will be lower than 2011 levels "but still pretty significant."
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