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  "documentTitle": "Lloyd’s and Bermuda",
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  "authorName": "PwC",
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  "notes": "The chart uses a grouped bar chart with an overlay of 'x' markers representing the 8-year average (2010-2018).",
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      "kind": "callout",
      "text": "Lloyd’s view is that there is over-reserving in short-tailed classes compensating for under reserving in some long-tail classes.",
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      "kind": "chart",
      "text": "Prior year release- impact on combined ratio by Segment",
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      "text": "The increase in prior year release is driven by most lines with the exception of Energy and Property\nReserve releases were seen on all segments except Marine in 2018\nLloyd’s view is that there is over-reserving in short-tailed classes compensating for under reserving in some long-tail classes.\nThis is consistent with PwC’s view\nWhilst the market continues to see reserve releases:\nthese are significantly below the recent average;\nAnd are consistent with a reduction in reserve strength",
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      "text": "Prior year release impact on combined ratio: 3.9%",
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      "text": "Source: PwC analysis of Lloyd’s year end results between 2010-2018",
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      "kind": "title",
      "text": "Lloyd’s has seen an increase in prior year releases from 2.9% to 3.9%........",
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      "text": "Prior year reserve releases have actually increased",
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