U.S. property and casualty reinsurers saw net premiums written drop 4 percent in the first half of 2010 compared to last year, while underwriting results deteriorated by nearly five points, according to a leading trade group report.

The 19 U.S. reinsurers tracked reported 2010 first-half net written premiums of $12.3 billion–down from $12.8 billion for the same time period in 2009, according to the “Reinsurance Underwriting Report,” released by the Reinsurance Association of America.

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