Yeah; if this were true, they’d be OOB (out of business). The author should have included the detail of the prior year loss ratio and expense ratio, so readers could see the deterioration in combined ratio of about 5% was almost exclusively loss ratio deterioration. The cat components of the current and prior year LRs would be nice, too, but IIRC, that detail isn’t available in the RAA report.
Shouldn’t it read “U.S. P/C Reinsurers’ Premiums Decrease $.5B in First Half of 2010?”
When I first saw the headline I went “whoa!!!” :-)
Yeah; if this were true, they’d be OOB (out of business). The author should have included the detail of the prior year loss ratio and expense ratio, so readers could see the deterioration in combined ratio of about 5% was almost exclusively loss ratio deterioration. The cat components of the current and prior year LRs would be nice, too, but IIRC, that detail isn’t available in the RAA report.