US Property-Casualty Reinsurers' Net Premium Growth Continues

A group of 17 US property and casualty reinsurers wrote $37.1 billion in net premiums during the first half of 2021, an increase from $32.1 billion written during the same period of 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA).

The reinsurers reported gross premiums written of $47.0 billion during this year's first half, up from $40.5 billion during the same period last year.

The group's combined ratio for the first 6 months of this year was 96.8 percent, an improvement from 98.4 percent during the first half of 2020, the RAA reported. The RAA said the group's combined ratio was attributable to a 72.4 percent loss ratio during this year's first half versus 73.4 percent during the same period last year and a 24.4 percent expense ratio during the first half of 2021 versus 25.0 percent during the first half of last year.

The reinsurers posted policyholder surplus of $256.8 billion at the end of this year's first half, compared to $237.8 billion at the end of the first quarter, according to the RAA.

The RAA's underwriting reports for the first half of 2021 and previous quarters are available on the organization's website.