Reinsurers add business, but losses increase: SurveyReprints
U.S. reinsurers reported increased premiums but a deteriorating combined ratio in 2017, according to a survey issued Wednesday by the Reinsurance Association of America.
Eighteen U.S. property/casualty reinsurers wrote $45.3 billion of net premiums during the 12 months ending Dec. 31, up from $41.1 billion of net premiums written during the same period in 2016, the Washington, D.C.-based association said in a statement.
The combined ratio for the group was 108.2%, deteriorating from 95.2% reported for the same period in 2016. The combined ratio reflects an 83.2% loss ratio and a 25% expense ratio.
Policyholders’ surplus was $168.6 billion, up from $146.8 billion at the end of the third quarter of 2017.