U.S. reinsurers reported a 93.5% combined ratio in 2009 vs. a 101.8% combined ratio for 2008, according to a survey of reinsurers by the Washington-based Reinsurance Assn. of America.

The 93.5% combined ratio reflects a 63.3% loss ratio and a 30.2% expense ratio.

Net premiums written were flat, with reinsurers reporting $23.91 billion in 2009 compared with $23.92 billion in 2008.

Policyholder surplus in 2009 totaled $77.32 billion, a 20.1% increase over 2008, the RAA said.