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Asbestos, environmental loss reserves shrink as payouts outpace losses

Posted On: Nov. 17, 2022 9:24 AM CST

Reserves

U.S.-based A.M. Best Co. Inc. said that insurers’ global asbestos and environmental loss reserves continue to decline as insurance payouts outpace incurred losses, Reinsurance News reported. A.M. Best retained its estimates for net asbestos losses at $100 billion and environmental losses at $46 billion as of the end of 2021. The A&E loss reserves are expected to run off in about eight years,