According to the company, the relationship came to light during the course of an i(https://www.insurancejournal.com/news/national/2018/12/09/511424.htm) nternal review into loss reserves
recorded in late 2017 and early 2018 at Markel CATCo Investment Management and its subsidiaries.
As previously announced, after being notified of governmental inquiries into loss reserves
recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd and its subsidiaries, Markel Corporation engaged outside counsel to conduct an internal review.
Operating performance moderately improved for P/C (re)insurers during the first half of the year thanks to improved core loss ratios, lower catastrophe-related losses and lower taxes along with favorable movement in loss reserves
. The group operating return climbed to 8.0%, up from 6.8% in the prior year.
Since 2010, roughly $60 billion of loss reserves
have been released into earnings, according to Stephan Hochburger, senior vice president at Munich Reinsurance America.
The "Background" section provides institutional details and highlights prior literature on both insurer loss reserves
and insurer financial strength ratings.
Proportionally, no other Arkansas bank committed more to its loan loss reserves
during the first quarter than DeWitt Bank & Trust.
Loan quality continues to improve as the bank's total loan loss reserves
skyrocketed from KD 32.6 million to KD 41.9 million, an increase of 29%, Gulf Bank's Chairman Omar Al-Ghanim said in a press statement.
Loan loss reserves
remained more than enough to cover for all NPLs, the BSP said.
According to the firm, the improvement in profitability during 2Q14 primarily reflected the recapture of loan loss reserves
of USD 500,000 and an increase of USD 147 thousand in net interest income before recapture of loan losses, which were partially offset by a decrease of USD 190,000 in non-interest income and an increase of USD 171,000 in non-interest expense.
The sector's loan loss reserves
, however, went down to 69.90 percent compared to the previous year's 71.85 percent.
The ratings agency notes that several insurance groups announced in the fourth quarter they would be taking reserve charges to strengthen prior accident years' loss reserves
By looking at claims data in its entirety, insurers will be better positioned to optimize loss reserves
, increase productivity, and root out fraud.