U.S. Reinsurance Sector Still Struggling
Dramatically improved rating and coverage conditions for U.S. property-casualty reinsurers has not brought about an overall improvement in industry results, according to the first-half report of the Reinsurance Association of America.
A group of 30 U.S. p-c reinsurers reported a combined ratio of 117.6 for the first half of 2002, compared with 115.6 reported by a similar group of reinsurers for the same period last year, according to the Washington-based RAA. The combined ratio for the first six months of 2002 is comprised of a 90.7 loss ratio and a 26.9 expense ratio, RAA noted.
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