U.S. P&C Industry Loss & LAE Reserves in Decline

U.S. property/casualty insurers' overall carried reserves were deficient by $34.3 billion, or 6.5% of reported surplus, at year-end 2009, based on statutory data reviewed and reported by A.M. Best Co. The figures exclude the mortgage guaranty and financial guaranty composites but they include $13.7 billion of asbestos and environmental (A&E) deficiency and $22.5 billion of statutory discount.