Reinsurer financials on the rise in first quarter
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U.S. reinsurers saw net premiums written rise 15.0% to $11.67 billion in the first quarter of 2017 compared with the same quarter a year ago, according to the most recent survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America.
Net premiums earned rose 11.5% to $10.12 billion from the year-ago period, while gross premiums written jumped 32.4% to $18.95 billion, the RAA said in its survey of a group of 18 U. S. property/casualty reinsurers, released Wednesday.
The combined ratio for the group deteriorated to 95.7% from 92.9% during the same period last year.
Policyholder’s surplus rose 0.4% to $142.47 billion from $141.88 billion at the end of 2016.
The Reinsurance Association of America is a trade association of property and casualty reinsurers doing business in the United States, including reinsurance underwriters and intermediaries licensed in the U.S. and those that conduct business on a cross border basis.
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