Reinsurer results deteriorate in 2016Posted On: Mar. 8, 2017 10:52 AM CST
Reinsurers in the U.S. saw premiums rise but underwriting results worsen in 2016 compared with the previous year, the Reinsurance Association of America said Tuesday.
A survey of reinsurers’ statutory underwriting results found that a group of 18 U. S. property/casualty reinsurers wrote $41.1 billion of net premiums during the 12 months ended Dec. 31, 2016, compared with $38.9 billion of net premiums written during the same period in 2015.
The combined ratio for the group was 95.2%, deteriorating from the 92.6% reported for the same period in 2015, the Washington-based RAA said, attributing the results to a 69.3% loss ratio and an expense ratio of 25.9%. Policyholders’ surplus was $141.9 billion, up from $134.5 billion at the end of the third quarter of 2016.