US reinsurers have taken a battering this year, with their combined ratio declining from 95.5% in the first quarter of last year to 102.2% this year.

A survey of 19 US reinsurers by the Washington-based Reinsurance Association of America has found net premium written declined quarter on quarter from $US7 billion ($8.2 billion) last year to $US6.4 billion ($7.5 billion) this year.

These results contributed to a loss ratio of 72.8% for the first quarter of this year, up from 68.1% last year, and an expense ratio of 29.5%, up from 27.4% last year.

While the 19 companies surveyed recorded a net underwriting loss of $US328.5 million ($386.4 million) in the first quarter of this year, overall they achieved a net income of $US2.4 billion ($2.8 billion).

These results are a significant improvement from the first quarter of last year in which the companies recorded a net underwriting gain of $US38.4 million ($45.2 million), but a net loss of $US2.1 billion ($2.5 billion).

While results have improved in many ways over the past year, there looks to be little respite ahead as reinsurers face the prospect of an active Atlantic hurricane season in the next few months, as well as increased competition in the soft reinsurance market.