Record catastrophic underwriting losses helped push leading reinsurers' cumulative combined ratio up nearly 25 percent, according to figures released by the Reinsurance Association of America.
The RAA reported that for the nine months ending Sept. 30, a group of 26 leading U.S. secondary insurers reported a combined ratio of 124.1, compared to 103.9 for the same period last year for a similar group of companies.
The RAA had no predictions as to the affect these losses will have on pricing when the Jan. 1 renewal season arrives in full force.
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