Net income for 13 major U.S. reinsurers rose to $6 billion for the first nine months of 2006, improving from a breakeven position in the comparable period last year as their industry reaped the benefit of a light catastrophe year.
This positive result was prompted by a 30-point fall in the loss ratio, according to the latest Benfield quarterly report on the United States.
Premium levels stabilized at $26.4 billion, halting the falling trend in place since 2003. Retentions rose as companies took advantage of an attractive rating environment.
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