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