Net premiums written by 21 U.S. property-casualty reinsurers declined by 8.7 percent during the nine months ended Sept. 30, compared with the same period last year, a reinsurance trade group announced.
The Washington-based Reinsurance Association of America said the 21 firms wrote $17.9 billion of net premiums during the nine months--a decrease of $1.7 billion.
RAA's report of reinsurers' statutory underwriting results found that the combined ratio for the group was 94.1, an improvement from the 95.4 combined ratio reported for the same period in 2006.
The combined ratio is attributable to a 65.6 loss ratio and an expense ratio of 28.5. Policyholders' surplus was $80.2 billion.
New premiums written among the companies surveyed by RAA included:
o Berkley Insurance Company--$1.22 billion in net premiums written in 2007 compared with $1.43 billion in 2006.
o Everest Re--$1.58 billion in 2007 versus $1.64 billion in 2006.
o Munich Re--$1.8 billion in 2007 compared to $1.99 billion in 2006.
o Swiss Re America Corp.--$941 million in 2007 versus $2.02 billion in 2006.
o XL Reinsurance America--$404 million in 2007 versus $419 million in 2006.
The report is online at http://www.reinsurance.org.
The RAA is a nonprofit association of domestic property and casualty reinsurers and reinsurance intermediaries. RAA underwriting members and their affiliates write more than two-thirds of the gross reinsurance coverage provided by U.S. professional reinsurance companies.
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