Over $1 billion in insurer/reinsurer reserves dormant

Chris Doherty, senior technical claims consultant at U.K.-based consulting firm Pro Global Holdings Ltd., has claimed that over $1 billion in global insurer and reinsurer reserves are currently sitting dormant in loss funds, despite all claims being paid in full, Reinsurance News reported. The firm added that repatriating redundant reserves is an important element to the resilience of balance sheets of reinsurers and insurers, particularly in the current economic climate.