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Member, Beacon International Group, Ltd.
Reinsurers' results for the first nine months of the year improved markedly over last year's hurricane-battered returns, according to the Reinsurance Assn. of America.
A group of 23 reinsurers reported a combined ratio of 95.4% for the first nine months of 2006, compared with a 124.1% combined ratio reported by a similar group in the same period last year.
According to the Washington-based RAA, for the first nine months of the year the reinsurers reported gross written premiums of $31.58 billion, up 3.7% compared with last year's group. The reinsurers reported profits of $6.3 billion for the 2006 period, compared with a loss of $133.6 million last year.
The reinsurers' policyholder surplus increased 9.2% to $69.4 billion.