Travelers puts Ogden reserves hit at $62mn

Travelers is to set aside additional reserves of $62mn before
tax in the first quarter of 2017 following the change to the UK
discount rate for personal injury compensation.
The extra reserves mainly relate to UK public liability and
commercial auto liabilities, said Travelers, which put the
after-tax hit at $51mn.
Travelers noted that two-thirds of the claims exposure stems
from legacy books that are now in run-off.
The insurer shrugged off the increase to its prior-year loss
reserves, noting:.