US Property-Casualty Reinsurers See Net Premiums Increase in 2020
March 17, 2021
A group of 17 US property-casualty reinsurers wrote $65.0 billion of net premiums during 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA).
The group's 2020 premiums were an increase from the $57.7 billion in net premiums written in 2019, according to the RAA. The US reinsurers reported gross premiums written of nearly $81.6 billion in 2020, up from $73.6 billion in 2019.
The combined ratio for the group of reinsurers deteriorated somewhat in 2020, the RAA reported. The group posted a 101.4 percent combined ratio last year, up from 100.3 percent in 2019. The 2020 combined ratio is attributable to a 76.5 percent loss ratio for the year compared to 75.6 percent in 2019, and an expense ratio of 24.9 percent in 2020, up from 24.7 percent a year earlier.
The group of US reinsurers reported policyholders' surplus of $233.0 billion as 2020 closed, up from $215.2 billion on September 30.
The RAA's underwriting reports for 12 months 2020 and 2019 are available at Quarterly Underwriting Report on the organization's website.
March 17, 2021
