Discontinued — last reported Q3 '20
Products & Services · Prior accident year development [1]
Catastrophes — Prior accident year development [1]
Analysis
StatementSegment
CategoryRisk
SignalHigher is better
VolatilityVolatile
First reportedQ1 2016
Last reportedQ3 2020
How to read this metric
Favorable development (a decrease in estimated liability) signals strong reserve management and potential earnings tailwinds, while unfavorable development signals potential under-reserving and earnings pressure.
Detailed definition
This metric represents the change in estimated ultimate losses for catastrophe events that occurred in previous fiscal y...
Peer comparison
Commonly reported by P&C insurers as 'prior year reserve development' or 'reserve strengthening/release' in actuarial disclosures.
Metric ID:
hig_segment_catastrophes_prior_accident_year_development_1Similar Metrics at Other Companies
Frequently Asked Questions
- What does catastrophes — prior accident year development [1] mean?
- The adjustment to estimated costs for past catastrophe claims based on new information.