Fears over reserving raised at AM Best conference
Delegates at the AM Best 2011 Insurance Market Briefing were warned that concern was growing about the adequacy of reserves in the UK non-life company market.
Catherine Thomas, director of analytics at AM Best, told the audience that combined claims inflation and competitive pressure on terms and conditions was making reserving more difficult in the current uncertain economic climate.
"This is of particular concern as insurers face these challenges at a time when their actuarial resources are under strain from the demands of solvency II," she said.
However Ms Thomas added that despite the pressure AM Best was retaining a stable outlook on the market.
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