Property/casualty industry prior-year loss reserves have developed favorably for seven straight calendar years, according to a new report from Fitch Ratings, which also says the industry reserve position remains adequate overall.

Executive Summary

Fitch Ratings finds the industry reserve position to be adequate at year-end 2012, and notes that prior-year takedowns have continued for seven consecutive years.

Only the product liability, workers compensation, commercial automobile liability and commercial multiple peril lines show any signs of deficiency based on Fitch’s analysis of year-end 2012 reserve levels.

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