US reinsurers enjoyed growth in H1 2017

US property/casualty reinsurers enjoyed growth in their gross written premiums in the first six months of the year, according to a survey of 18 reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA).

The group wrote $22.5 billion of net premiums during the six months ended June 20, 2017, compared with $21.3 billion for the same period in 2016.

The combined ratio for the group was 97.1 percent, deteriorating from 94.8 percent for the same period in 2016. The combined ratio is attributable to a 72.8 percent loss ratio versus 69.9 percent for the same period in 2016, and a 24.3 percent expense ratio versus 24.9 percent for the same period in 2016.

Policyholders’ surplus was $146.8 billion compared to $142.5 billion at March 31, 2017.

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