17 March 2021Insurance

US reinsurers enjoyed collective 2020 growth

A selection of the biggest reinsurers in the US enjoyed strong growth in their net premiums in 2020 but their combined ratios deteriorated.

In a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 17 US property/casualty reinsurers wrote $65 billion of net premiums during the 12 months ended December 31, 2020, compared to $57.7 billion for the same period in 2019.

The combined ratio for the group was 101.4 percent, deteriorating from 100.3 percent for the same period in 2019. The combined ratio is attributable to a 76.5 percent loss ratio versus 75.6 percent for the same period in 2019 and an expense ratio of 24.9 percent, an increase from 24.7 percent for the same period in 2019.

Policyholders’ surplus was $233.0 billion, compared to $215.2 billion at September 30, 2020.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
19 April 2021   The aim is to end ‘the vicious cycle of build-flood-rebuild’.
Risk Management
22 March 2021   Another year, another Fed-propelled rally. A review of NEAM’s 2020 fixed income return forecast and our return outlook for 2021, by Vincent DeLucia of NEAM.
Insurance
19 March 2021   It would ensure insurers would not face the threat of federal criminal prosecution.