A group of 19 U.S. property and casualty reinsurers saw its underwriting profit for the first nine months of the year improve from a loss of over $2 billion in 2011 to a gain of just under $1.4 billion in 2012.
Last year at this time, the Reinsurance Association of American reported that, out of the 19 reinsurers, all but four had reported underwriting losses for the first nine months of 2011. For the first nine months of this year, 10 of the 19 reinsurance groups reported underwriting gains, and just three reported overall net losses for the period.
The group’s combined ratio improved from an unprofitable 108.8 in 2011’s first nine months to 91.8 for the same period this year.
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