In a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 20 U. S. property‑casualty reinsurers wrote $19.0 billion of net premiums during the nine-months ended September 30, 2008, an increase of $1.1 billion from the same period in 2007.  The combined ratio for the group was 104.2%, deteriorating from the 94.1% combined ratio reported for the same period in 2007.  The combined ratio is attributable to a 75.0% loss ratio and an expense ratio of 29.2 %.  Policyholders’ surplus was $72.1 billion, down from the $80.2 billion reported for the third quarter 2007.