Just searched their annual report:
"The probability of adequacy (PoA) of net
outstanding claims reduced to 91.7% from
92.5% at 31 December 2020 but remains
comfortably above the midpoint of the
Group’s 87.5%–92.5% target range."
So slight decrease which means the IBNR strengthening isn't sandbagging. Although not sure why it references 2020 and not 2021 in the annual report.
Just searched their annual report:"The probability of adequacy...
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