Travelers Property Casualty Corp. (NYSE: TAP.A and TAP.B) reported yesterday that it has completed its previously announced study of its asbestos reserves.
The study involved an extensive review and assessment of Travelers' exposure to asbestos losses, particularly in light of the Company's recent claims experience and industry-wide trends.
"This reserve strengthening reflects a conservative view of trends that have become clearer over the last few quarters and our estimate of the projected ultimate cost of our asbestos liabilities," said Robert I. Lipp, Chairman and Chief Executive Office...
Comments