NU Online News Service Aug. 30, 3:32 p.m. EDT
U.S. property and casualty reinsurers saw 2010 first-half net premiums written drop 4 percent compared to last year while their combined ratio increased to 98.7 from 93.8.
According to the "Reinsurance Underwriting Report, conducted by the Reinsurance Association of America (RAA), the 19 U.S. reinsurers tracked reported 2010 first-half net written premiums of $12.3 billion, down from $12.8 billion for the same time period in 2009.
The RAA said the 98.7 combined ratio is attributable to a 68.9 percent loss ratio and an expense ratio of 29.8 percent.
Policyholders' surplus was $99.7 billion, down from $101.3 billion at March 31, 2010.
By company, net premiums written were:
o National Indemnity Company--$2.32 billion in 2010 compared to $2.59 billion in 2009.
o Transatlantic/Putnam Reinsurance Company--$1.72 billion in 2010 compared to $1.86 billion in 2009.
o Munich Re America--$1.44 billion in 2010 compared to $1.21 billion in 2009.
o SCOR--$289 million in 2010 compared to $285.9 million in 2009.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
