Net premiums for property/casualty reinsurers up 8.5%: RAA

The Reinsurance Association of America said Tuesday that its group of 17 U.S. property/casualty reinsurers wrote $17.9 billion of net premiums during the three months ended March 31, 2021, an increase of 8.5% compared with the same period in 2020.

The combined ratio for the group deteriorated to 98.4% in the first three months from 97.4% for the same period in 2020. The combined ratio is attributable to a 73.9% loss ratio versus 72.2% for the same period in 2020, and a 24.5% expense ratio versus 25.2% for the same period in 2020.

Policyholders’ surplus was $237.8 billion, compared with $233.0 billion on Dec. 31, 2020.