Swiss Re reports $760m prior year liability deterioration
Buried in yesterday’s 2005 annual results, Swiss Re added a 27 percentage point charge to its 2005 liability combined ratio for deterioration to its 1999-2001 underwriting years.
In a competitive market the giant reinsurer saw its liability combined ratio slump to a whopping 126.4% from 118.7% due to a CHF 1bn ($760m) charge for adverse development, primarily on the on the
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