Net premiums written by U.S. property-casualty reinsurers were relatively unchanged in the first half of the year, but the profitability of the industry’s book of business improved, the latest survey by the Reinsurance Association of America found.

A group of 22 U.S. propertycasualty reinsurers wrote $12.2 billion of net premiums during the first six months of 2007, down only $7.5 million compared with the same period last year, RAA noted.

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