US reinsurers record further rise in underwriting profits

Despite improved underwriting results, US reinsurers’ pre-tax income of $9.7bn for 2007 was some $2bn lower than 2006

The US non-life reinsurance industry posted improved underwriting profits in 2007 but overall profitability for the sector was down on the prior-year period, largely due to non-operating losses incurred by one major player, according to a survey of statutory results by the Reinsurance Association of America (RAA).