Reserve releases under further scrutiny
FIRST it was the rating agencies, then it was the brokers and now in today’s Insurance Day (www.Insuranceday.com, Jan 14) a number of chief executives from some of the largest insurers and reinsurers in the world have admitted what many in the market have suspected for some time now – insurers cannot bank on prior-year reserve releases continuing to favourably mask company financials through 2011.