The reinsurers wrote $12.7 billion of net premiums in the first half of this year, compared with $12.2 billion a year ago. RAA, which is based in Washington, said the group posted a 97.5% combined ratio for the first six months of 2008, up from 90% in 2007.
The RAA said the reinsurers posted a 68% loss ratio and 29.5% expense ratio for the first six months of this year, compared with 62.8% and 27.2% respective results for the same period a year ago.
Half of the reinsurers in the group posted net underwriting losses.