Reinsurers post higher premiums, losses
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U.S. property/casualty reinsurers wrote $64 billion in net premium in the first nine months of 2022, up 11.7% compared with the same period last year, according to a report released Friday by the Reinsurance Association America.
The 17 reinsurers tracked by the RAA reported a 101.7% combined ratio, deteriorating from 100.7% for the 2021 period. A combined ratio of more than 100% indicates an underwriting loss.
Policyholder surplus for the group decreased 3% to $239 billion.
