GWP down, surpluses reduced, combined ratio worsens

A Reinsurance Association of America (RAA) survey of 19 US property casualty reinsurers’ H1 statutory underwriting results found they wrote $12.3bn of net premiums, down from $12.8bn in 2009.

The combined ratio for the group was 98.7%, worsening from the 93.8% in 2009. The combined ratio was made up of a 68.9% loss ratio and an expense ratio of 29.8%.

Policyholders’ surplus was $99.7bn, down from the $101.3bn at March 31, 2010.

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