Data from the Reinsurance Association of America (RAA) shows that a group of 17 U.S. property and casualty (P&C) reinsurers wrote $17.9 billion of net premiums during the first three months of 2020, an increase from the $16.5 billion recorded in 2019.
The combined ratio for the group was 98.4%, deteriorating from 97.4% for the same period in 2020.
The combined ratio is attributable to a 73.9% loss ratio versus 72.2% for the same period in 2020, and a 24.5% expense ratio versus 25.2% for the same period in 2020.
Policyholders’ surplus was $237.8 billion, compared to $233.0 billion at December 31, 2020.
Meanwhile, gross premiums written for the group of reinsurers exceeded $23.3 billion in 2021 while net premiums written hit $57.7 billion and net premiums earned reached $56.7 $16.3 billion.
In comparison, the group of U.S. P&C reinsurers recorded gross premiums written of $71.5 billion, net premiums of $16.3 billion.
