NU Online News Service, March 2, 2:54 p.m. EST

The impact of the Thailand floods on Bermuda based insurers and reinsurers weighed down the overall fourth-quarter underwriting profits of property and casualty companies followed by analyst firm Keefe, Bruyette & Woods.

Overall, companies in KBW's coverage universe reported a 2011 fourth-quarter combined ratio of 98.1, up from 91.5 in the 2010 fourth quarter. Catastrophe losses played a large role in the deteriorating underwriting results. For KBW's coverage universe, catastrophe losses were 9.4 percent on the loss ratio compared to 4.6 percent a year ago.

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