US Property-Casualty Reinsurers Report Net Premium Growth in 2021

A survey of reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA) showed a group of 17 US property-casualty reinsurers wrote $74.6 billion in net premiums over the 12 months ending December 31, 2021.

The 2021 premium total was an increase from $65.1 billion the group of reinsurers wrote over the same period in 2020, the RAA said.

The 2021 combined ratio for the group of reinsurers was 99.8 percent, an improvement from the 101.4 percent the group reported for 2020, according to the RAA. The difference in combined ratios was attributable to a 75.3 percent loss ratio in 2021 versus 76.5 percent a year earlier, and a 2021 expense ratio of 24.5 percent versus 24.9 percent in 2020.

The group of reinsurers policyholders' surplus was $289.6 billion in the fourth quarter, compared to $257.6 billion in the prior quarter, the RAA said.