The first quarter of 2011 saw the combined ratio of a group of 19 US property and casualty reinsurers blow out to 129.3%, compared to 102.2% for the same period last year.

The figures were compiled by the Reinsurance Association of America, the trade association for property and casualty reinsurers doing business in the US.

The reinsurers, which all write international businesses, were hit by the first quarter’s huge catastrophes losses, and fell to a combined first-quarter net loss of $US100.6 million ($94.2 million), compared to last year’s first-quarter net income of $US2.4 billion ($2.2 billion).

But premiums grew for the quarter, up 10.9% on the comparable period to $US7.1 billion ($6.6 billion).