The Reinsurance Association of America (RAA) has conducted a survey of reinsurers’ statutory underwriting results, revealing that seventeen US property and casualty reinsurers underwrote $64bn of net premiums in the first nine months of 2022.
In a statement, the RAA said that this represented an increase from $57.3bn over the first three quarters of 2021. It also said that the combined ratio for the group was 101.7%, worsening from 100.7% in the same period in 2021.
The combined ratio, it said, is attributable to a 79.1% loss ratio and an expense ratio of 22.5%. The highest combined ratio was reported to be 125.9% for SCOR US, with the lowest attributed to Partner Re US at 89.6%.
By far, the most net premiums underwritten over the period were by National Indemnity, which reported $25.5bn in that time. A distant second was Everest Re, reporting a little over $6bn.
Gross written premiums were expectedly higher, with a little over $77.3bn written over the period, with $25.8bn of this coming from National Indemnity.
The seventeen firms surveyed were American Agricultural Insurance, Axis Re, EMC Re, Endurance Assurance, Everest Re, General Re, Munich Re America, National Indemnity, Odyssey Group, Partner Re, Renaissance Re, SCOR US, SiriusPoint America, Swiss Re America, The Toa Reinsurance Company of America, Transatlantic Re, and XL Re America.
