Reinsurer results deteriorate in 2016
Reprints
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.
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