Genworth To Review LTCi Claim Reserves
In its release on
The primary areas of focus in the current review are: (i) an analysis of potential causes of the meaningful increases in adverse claims experience in the second quarter of 2014 and (ii) an assessment of the assumptions and methodology underlying the associated reserves, including morbidity, mortality, interest rates and claim terminations. The company intends to complete this review before the release of financial results for the third quarter of 2014. The company continues to believe that the existing assumptions and methodology provide the most reliable best estimate.
However, given the review underway that will consider both long- term and recent experience, the company will likely change some of its assumptions, which could increase our long term care insurance claim reserves, and any increase may or may not be material.
More information and complete details:
((Comments on this story may be sent to [email protected]))
|Copyright:||(c) 2014 ProQuest Information and Learning Company; All Rights Reserved.|