U.S. reinsurers saw a slight decline in net premiums written during the first three quarters of 2009, but the business they wrote was far more profitable, a Reinsurance Association of America survey has revealed.
Net reinsurance premiums written during the first three quarters were down about 1.6 percent, from $19 billion a year ago to $18.7 billion in 2009, according to the RAA survey of statutory underwriting results for 19 U.S. property and casualty reinsurers in the nine months ending Sept. 30, 2009.
However, the survey found the combined ratio for the group was 95.0–a big improvement over the 104.2 figure reported for the same period in 2008.
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