Favorable redundancies on prior year's loss reserves decreased to $64 million or 12 points of favorable development, compared to $75 million or 16 points of favorable development in 2011. The decrease is primarily due to less favorable development of prior year's losses in the Excess and Surplus line segment.In the first quarter of 2011, we resulted significant portion of our outstanding liabilities associated with an Errors & Omissions program from mortgage servicing companies and as a result reduced loss reserves by $16 million.
Markel's Management Discusses Q1 2012 Results - Earnings Call Transcript
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