BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Reinsurer premium growth averages 12.1% in 2022: Gallagher Re


Reinsurers’ premium growth averaged 12.1% for the fiscal year 2022, supported by improved pricing for commercial lines and reinsurance business, according to a report Thursday from Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.

The group’s average combined ratio deteriorated by one percentage point to 95.7% in 2022 from 94.7% in fiscal year 2021,” mainly due to an inflation-driven increase in the attritional loss ratio,” the report said.

Investment losses, however, blunted the sector’s average full-year return on equity, which dropped to 10% in 2022 from 12.6% in 2021.

The double-digit premium growth “continues to be supported by not only price increases but also higher policy retention and organic growth,” the report said.

Sixteen of the 26 companies in the report’s data set reported double-digit premium growth and of those, five reported increases over 20%, the report said.

Commentary on sector earnings calls suggested that reinsurers will continue to push for rate increases even as recent data shows rate increases moderating, according to the report.