| Estimated Asbestos Losses, 2013-2022 (1) |
($ billions)
|
| |
|
Losses |
|
| Year |
Beginning reserve |
Incurred (2) |
Paid |
Ending reserve (3) |
| 2014 |
$20.3 |
$1.5 |
$2.4 |
$19.4 |
| 2015 |
19.4 |
1.7 |
2.8 |
18.3 |
| 2016 |
18.6 |
1.5 |
3.0 |
17.1 |
| 2017 |
16.9 |
1.7 |
1.8 |
16.8 |
| 2018 |
16.8 |
0.8 |
1.9 |
15.7 |
| 2019 |
15.7 |
1.1 |
1.7 |
15.1 |
| 2020 |
15.1 |
1.4 |
1.5 |
14.9 |
| 2021 |
14.7 |
1.0 |
1.5 |
14.2 |
| 2022 |
14.2 |
0.9 |
1.6 |
13.5 |
| 2023 |
13.2 |
1.0 |
1.5 |
12.7 |
(1) All amounts are net of reinsurance recoveries.
(2) Incurred losses are losses related to events that have occurred, regardless of whether or not the claims have been paid, net of reinsurance. Includes loss adjustment expenses.
(3) Because of changes in the population of insurers reporting data each year, the beginning reserve may not equal the ending reserve of the prior year.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute. |
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