A group of 20 U.S. propertycasualty reinsurers wrote $22.7 billion of net premiums during the 12 months ended Dec. 31, 2007, compared with $25.8 billion written during the same period in 2006–a decrease of 13.6 percent, according to a reinsurance association report.
An analysis of reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA) found that the combined ratio for the group of reinsurers was 94.7, a slight improvement over the 94.9 combined ratio reported for the same period in 2006. The combined ratio is attributable to a 65-point loss ratio and an expense ratio of 29.7, according to the Washington, D.C.-based RAA.
For the same period in 2006, the loss ratio was 67.1 and the expense ratio was 27.8. Policyholders' surplus at Dec. 31, 2007 was $75.9 billion, compared to $74.5 billion for the same period in 2006, RAA said.
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