... reinsurers produced solid underwriting profits in 2013 due to manageable catastrophe- related losses and sustained favourable loss reserve development. The group of 24 non-life reinsurers that Fitch Ratings tracks posted a reinsurance calendar year (CY) combined ratio of 85.4% in 2013, improved from 89.3% in 2012, with all but four reporting a lower ratio. Property Catastrophe Reinsurers Results More Favourable, but More Volatile Property catastrophe focused reinsurers produced the lowest 2013 CY combined ratios, including RenaissanceRe Holdings and Montpelier Re Holdings. More diversified global reinsurers had higher, but still favourable, CY combined ratios as they typically experience less overall volatility. All reinsurers in the group posted reinsurance CY combined ratios below 100% in 2013 and 2012. Munich Re and Swiss Re Remain Top Global Reinsurers Munich Reinsurance Company and Swiss Reinsurance Company (Swiss Re) remained the...