A group of 19 U.S. property-casualty reinsurers wrote $23.9 billion of net premiums in 2008, a $6.billion increase over 2007, according to a Reinsurance Association of America survey.
The combined ratio for the group was 101.8, deteriorating from the 94.7 combined ratio reported for the same period in 2007.
The combined ratio was attributed to a 71-point loss ratio and an expense ratio of 30.7. Policyholders' surplus was $64.4 billion, down from the $75.9 billion reported for the same period in 2007, RAA said.
In a sampling of the reinsurers, National Indemnity Company reported net premiums written of $4.6 billion as of December 2008, compared with $3.6 billion in 2007 and a combined ratio of 89.6; Transatlantic Putnam Reinsurance Company reported $3.67 billion net premiums, compared with $3.61 billion in 2007 and a combined ratio of 99.5; and Swiss Re reported $2.2 billion net premiums in 2008, compared with $1.49 in 2007 and a combined ratio of 111.3, RAA said.
EMC reported $73.6 million net premiums written in 2008, compared to $71 million in 2007 and a combined ratio of 107.5, while Everest Re reported $838.7 million in net premiums written in 2008 compared to $1.9 billion in 2007 and a combined ratio of 115.7, according to RAA.
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