U.S. P/C Reinsurers’ Premiums Decrease $12.8B in First Half of 2010

A group of 19 U.S.-based property/casualty reinsurers wrote $12.3 billion of net premiums during the six-months ended June 30, 2010, a decrease from the $12.8 billion net premiums written in the first six months of 2009.

According to a survey of the reinsurers’ statutory underwriting results, conducted by the Reinsurance Association of America (RAA), the combined ratio for the group was 98.7 percent, deteriorating from the 93.8 percent combined ratio reported for the same period in 2009. The 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 the $101.3 billion at March 31, 2010.

The Reinsurance Association of America is a trade association of property/casualty reinsurers doing business in the United States.