Reinsurers’ combined ratio improves despite high cat losses

Aon PLC’s Reinsurance Aggregate report said that reinsurers’ combined ratio improved from 104.4% in 2020 to 94% in the first half of 2021 despite natural catastrophe losses that more than doubled to $4.9 billion this year, Reinsurance News reported. The report said that steady rate increases over the past few years helped offset COVID-19 losses and reduced reinsurers’ aggregate loss ratio.