Reinsurers report improved combined ratio: RAA

A group of 22 U.S. property/casualty reinsurers reported an 89.8% combined ratio for the first quarter, which ended March 31, compared with the 98.4% reported by a comparable group a year ago, according to a survey by the Washington-based Reinsurance Assn. of America.

The 89.8% combined ratio reflects a 65% loss ratio and a 24.8% expense ratio, the RAA said.

The reinsurers also reported $6.73 billion in net premiums written for the first quarter, a 2.7% increase from the total reported by the comparable group a year ago.

The 22 reinsurers also reported $413 million in net income and a total of $71.01 billion in policyholder surplus, according to the RAA.