French reinsurers suffer net operating loss

Members of France’s Association des Reassureurs Francais (ARF) saw aggregate premiums rise by 38% last year to more than €11bn (US$10.1bn). But their net result was still a combined loss of €575.9mn which compares with a net profit of €249.3mn in 2000. However, Federation Francaise des Societes d’Assurance (FFSA) president Denis Kessler noted that the important thing was that French reinsurers had honoured their commitments.