CHICAGO--(BUSINESS WIRE)--Fitch Ratings has published a new Dashboard Report on U.S. property/casualty (Re)insurers' asbestos liability exposures at year-end 2014.
The Asbestos Liability Dashboard compares the reserve position for 15 insurers with the largest exposure to asbestos related losses. Fitch estimates industry asbestos reserves are deficient by $5 billion-$12 billion, based on a 2014 survival ratio of 8.8x versus Fitch's target range of 11x-14x.
Continued reporting of new incurred losses from asbestos claims has led Fitch to increase the maximum estimate for ultimate insured industry losses related to asbestos to $90 billion from a previous high of $85 billion. Fitch anticipates that asbestos-related losses are likely to persist, affecting (re)insurers' earnings, but will not generate severe capital shocks that provoke negative rating actions.
The 'Asbestos Liability Dashboard' is available on Fitch's website at 'www.fitchratings.com' or by clicking on the link.
Additional information is available at 'www.fitchratings.com'.
Asbestos Reserves Dashboard: 2015