NU ONLINE NEWS SERVICE, MAY 19, 2:56 P.M. EDT
Natural disasters have impacted the bottom line of reinsurers globally, with combined losses from the Japanese and New Zealand earthquakes, and cyclone and flooding losses in Australia, totaling $15.7 billion for 23 property and casualty reinsurers, leading to an aggregate loss of $3.5 billion, according to a report from Fitch.
The report also states that combined ratios increased dramatically. The reinsurers’ aggregate first-quarter 2011 combined ratio increased to 138 percent from 103 percent one year ago.
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