Major Conclusions and Actions Taken
The vast majority of the exposure is due to long identified policyholders
Exposures to more recently identified policyholders are not deemed significant
- Mostly “tertiary” or smaller exposures
Process confirmed small number of significant potential “non-product” exposures, all from long known asbestos defendants
Asbestos payments should peak in the next two to three years and then decline, representing the characteristics of a “run-off” book of business
Standard “survival ratio” increases to 16.9x on a three year basis
- Adjusted for settlement agreements: 27.1x on a three year basis and 14.9x on a one year basis
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