US P&C carriers diverge on reserves: Nomura

The US P&C sector is bifurcating into "haves and have
nots", analysts at Japanese banking group Nomura found in a
statutory reserve review.
In a note, Nomura's Cliff Gallant said that as a group the
health of reserves among companies that provide useful statutory
data looked good. However, the analyst warned that there were some
exceptions.
The review found that after a "rough year" auto
carriers were "aggressively addressing" adverse reserve
trends, pointing to State Farm, which reported a