US Property-Casualty Reinsurer Premium Growth Continued through Q3

A group of 17 US property-casualty reinsurers wrote $64.0 billion of net premiums during the first 3 quarters of 2022, up from $57.3 billion over the same period last year, according to the Reinsurance Association of America (RAA).

The RAA data is based on a survey of the reinsurers' statutory underwriting results.

The group of US reinsurers reported writing $77.4 billion in gross written premiums over the period, up from $72.1 billion over the first 9 months of 2021.

The reinsurers' combined ratio for this year's first 9 months was 101.7 percent, a deterioration from the 100.7 percent combined ratio reported during the same period in 2021. The RAA said the group of reinsurers' combined ratio was attributable to a 79.1 percent loss ratio and a 22.5 percent expense ratio. During the first 9 months of 2021, the group of reinsurers posted a 76.6 percent loss ratio and a 24.1 percent expense ratio.

The reinsurers' policyholders' surplus at the end of September was $239.0 billion, a decrease from $246.3 billion in the prior quarter, according to the RAA.