6 November 2023Insurance

Property casualty sector’s overall reserves improved in 2022

The US property casualty (P/C) insurance sector improved its overall reserve position in 2022 and reported favourable reserve development for the 17th consecutive year, an AM Best Special Report, “US Property/Casualty Industry Loss & LAE Reserves Slightly Redundant” has revealed.

Automobile liability lines continued to report adverse developments, the special report said.

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