The net income among 20 U.S. reinsurers rose 263 percent in the first quarter of this year despite uneven results among the group, according to the regular quarterly survey released by the Reinsurance Association of America.
Net income for the first quarter was $1.5 billion, compared to $413 million in the first quarter of 2007, the Washington, D.C.-based RAA reported.
Net premiums written for the 20 reinsurance companies surveyed stood at $6.8 billion for 2008, up slightly from $6.7 billion in the first quarter of 2007 despite a softening primary insurance market.
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