Uphill struggle for companies despite the hardest market in decades

How has the US reinsurance sector fared in recent months? The most obvious piece of good news in the Reinsurance Association of America’s (RAA), recently published survey of US reinsurers statutory results for the third quarter 2002 is that the 30 or so RAA member companies have managed to restore the sector’s bottom line profitability: a pre-tax loss of $582.4mn at the end of June had been transformed into a profit of $427.7mn by the end of September.