The U.S. reinsurance sector saw its net income and combined ratio for the 2005 first quarter virtually unchanged, while the net written premiums dropped more than 10 percent, according to the Reinsurance Association of America.
The Washington, D.C.-based RAA reported that 26 major U.S. property-casualty reinsurers in aggregate had 93.9 percent combined ratio for the first quarter, down 0.1 point from 94.0 percent reported by a similar group of reinsurers one year ago. The RAA result was based on a survey of reinsurers' statutory underwriting figures.
The 93.9 percent combined ratio reported this past quarter by the 26 U.S. reinsurers reflects a 68.2 percent loss ratio and a 25.7 percent expense ratio.
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