Reinsurance News

XL grows reinsurance book despite reduced pricing

2nd February 2017 - Author: Luke Gallin

Insurer and reinsurer XL Group increased its reinsurance segment gross premiums written (GPW) by a substantial 159.5% in Q4 2016 when compared with the previous year’s quarter, despite pricing in the industry being down.

The re/insurer has released its fourth-quarter and full-year 2016 results, which reveals an increase in P&C GPW of 19.3% to more than $3 billion for Q4, and roughly $13.6 billion for the full-year.

The majority of the growth comes from its reinsurance segment which increased by 159.5% in the quarter, while its insurance segment recorded P&C GPW growth of 6.9% in the period.

Regarding growth in its P&C reinsurance book the company said; “The increase was primarily due to significant new proportional business in Bermuda in the Property Treaty line of business offset by cancellations in Bermuda and London in the Casualty line of business.”

The company reported increased pre-tax net of reinsurance natural catastrophe losses during both Q4 and the full-year, of $246.1 million and $636.3 million, respectively.


XL Group’s P&C combined ratio, excluding prior year development and the impact of nat cats, improved in the quarter to 89.1%, compared with 92.8% a year earlier. For the reinsurance segment the combined ratio, on this basis, was 81.9% in Q4, and the insurance segment reported a combined ratio of 92.3%.

“Overall, improvements on each component of the combined ratio reflect disciplined underwriting as well as continued emergence of operational efficiencies,” says XL Group.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Charles Taylor opens Latin America captive office, hires Arch Re exec

Charles Taylor has opened a new office in Panama in a move that expands its captive insurance services' capabilities across Latin...