Higher cat losses impact Berkshire’s Q1 results

Overall market net premiums were up by just 1%, reflecting significant reductions in business volumes for some companies

The US non-life reinsurance industry posted sharply reduced underwriting profits in the first quarter of 2008 but overall profitability for the sector was well up on the prior-year period, according to a survey of statutory results by the Reinsurance Association of America (RAA).