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  "documentTitle": "Lloyd’s and Bermuda",
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  "notes": "The slide uses two grouped bar charts to illustrate reserve deterioration across different years of account (YoA) and development periods.",
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      "text": "For Casualty, albeit there is an overall reserve release, our analysis has highlighted significant reserve deterioration on some material lines.",
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      "kind": "chart",
      "text": "Directors & Officers (non-US) - Change in Boooked Gross Gross ULRs between Development Month",
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      "text": "NM General Liability (non-US direct) - Change in Boooked Gross Gross ULRs between Development Month",
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      "text": "For Casualty, albeit there is an overall reserve release, our analysis has highlighted significant reserve deterioration on some material lines such as NM General Liability; and Directors & Officers (non-US). [Note: These are not the only lines to show this!]",
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      "text": "This is in line with analysis performed by Lloyd’s that found that Casualty classes have not developed in line with reserving assumptions. In Casualty Lloyd’s has seen constant strengthening on recent years offset by releases on back years",
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      "kind": "source-note",
      "text": "Source: PwC analysis of market data, based off 2016 Q2 to 2018 Q2 Performance Information Packs",
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      "text": "“Casualty” has had a reserve releases but underlying this is some adverse experience......",
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      "text": "Prior year reserve releases are not across all classes",
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