Total US premium ceded to offshore reinsurers up 6.8%
In 2007, total U.S. premium ceded to offshore reinsurers was $58.4bn, up from $54.7bn in 2006, an increase of 6.8%, a survey from the Reinsurance Association of America said.
Net recoverables totaled $113.0bn, a decrease of 1.1% from $114.2bn in 2006.
The total premium ceded to unaffiliated offshore reinsurers was $24.6bn, a 10.7% increase compared to $22.2bn in 2006.
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