Proportional losses escalate

Part 1 of the WIR UK reinsurance survey looked at the performance of companies in terms of net written premium. In part 2 the focus is on underwriting results. The underwriting loss for companies writing proportional business worsened from £170.9mn to £462.6mn, while non-proportional business generated a loss of £140.3mn, against a £121.1mn deficit in 1998. By contrast, the marine, aviation and transport (MAT) treaty loss improved from £50.2mn to £15.6mn.