US Property-Casualty Reinsurer Net Premiums Grew during First Quarter

A group of 17 US property-casualty reinsurers wrote $17.9 billion in net premiums during the first quarter of 2021, up from $16.5 billion during the same period in 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA).

The group of reinsurers posted gross premiums written of nearly $23.4 billion during the first quarter, according to the RAA.

The reinsurers posted a combined ratio of 98.4 percent during the first quarter, deteriorating from 97.4 percent during 2020's first quarter, the RAA found. The first-quarter combined ratio was attributable to a 73.9 percent loss ratio versus a 72.2 percent loss ratio during the same period in 2020, and a 24.5 percent expense ratio during this year's first 3 months versus 25.2 percent for the first quarter of 2020.

Policyholders' surplus for the group of reinsurers was $237.8 billion, up from $233.0 billion on December 31.

The RAA's underwriting reports for the first quarter and prior quarters are available on the organization's website.