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U.S. property and casualty reinsurers saw 2010 first-half net premiums written drop 4 percent compared to last year while their combined ratio increased to 98.7 from 93.8.

U.S. property and casualty reinsurers saw 2010 first-half net premiums written drop 4 percent compared to last year while their combined ratio increased to 98.7 from 93.8.

New York-based reinsurance company Transatlantic Holdings Inc. said its second-quarter drop in net income was primarily the result of catastrophe losses, the bulk of which was related to the Deepwater Horizon oil rig incident.

In 2009, the property and casualty insurance industry recovered from a devastating global financial crisis that had drained 12 percent from policyholder surplus and nearly erased the net income recorded the year before.

Reinsurers are increasingly questioning the sustainability of a good casualty claims environment, and their dimmer views of future profit margins on primary business are putting them at odds with potential cedents.

Insured losses from the Deepwater Horizon Drilling Platform explosion will likely total about around $1.4 billion, but are not expected to significantly impact this niche marketplace or buying behaviors.

Insured losses from the recent explosion of the Deepwater Horizon Drilling Platform in the Gulf of Mexico could reach $1.5 billion, according to Transatlantic Holdings, Inc.

Insured losses from the recent explosion of the Deepwater Horizon Drilling Platform in the Gulf of Mexico could reach $1.5 billion, according to Transatlantic Holdings, Inc.