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  "documentTitle": "Lloyd’s and Bermuda",
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  "authorName": "PwC",
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  "notes": "The chart uses a box plot representation to show interquartile ranges and medians of reserve strength.",
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      "kind": "callout",
      "text": "This does not mean the Market is under reserved but future reserve releases are now less likely, especially in magnitude",
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      "text": "PwC view of London Market reserve strength (adjusted for Ogden and cat) (Net booked reserves as a proportion of actuarial best estimate)",
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      "text": "The level of margin within reserves has reduced\nThe number of firms with “no margin” has increased.\nNote: these may be part of a group and margin held “elsewhere”\nThe boxes are the interquartile ranges and the lines the median\nThis does not mean the Market is under reserved but future reserve releases are now less likely, especially in magnitude\nThe most recent years of account have less margin than older business",
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      "text": "Reserve strength: 5%",
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      "text": "Source: PwC analysis",
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      "kind": "title",
      "text": "....seen a decrease in reserve strength from over 6% to approximately 5%",
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      "kind": "title",
      "text": "Prior year reserve releases have hit reserve strength",
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      "evidence": "Slides 10-18 highlight patterns in Lloyd's financial performance",
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