On the opening of the RVS official press conference held yesterday at Hotel de Paris, Monte Carlo, keynote speaker and Chairman of the RVS Association, Jean Philippe THIERRY has mentioned the major events that have occurred in the past 12 months.

In particular, combined ratios in non-life reinsurances have diminished reaching 88% in 2006 only to have return in 90's profitability rates in 2011 mainly due to the very large number of Nat cat during the past year, according with a study conducted by S&P.

Also, Jean Philippe THIERRY mentioned that in 2009 reinsurers regained the equity lost (20%) in 2008 resulting to market capitalization of reinsurance companies to return to the levels of the end of 2007.

A part of the gain achieved in 2010 has been absorbed by the natural disasters of 2011, though first trimester of 2012 showed that the level of capitalization had returned to 2010 peak and continued to improve in Q2 of 2012.