The reinsurance companies’ results in 2004

According to professional associations, the results of reinsurance companies are going green with a net profit of 355.5 million EUR (432.4 million USD) in 2004 following the cumulated losses of 1 billion EUR (1.2 billion USD) during the last three years. The reinsurance sector, whose turnover has reached 7.21 billion EUR (8.8 billion USD), that is, 17% less than 2003, is undergoing massive changes characterized mainly by restructurings and underwriting policies rather focused on Europe. (63% of premiums collections).