US reinsurance – what's occurred up to now in 2022?
A bunch of US property and casualty reinsurers beneath the Reinsurance Affiliation of America (RAA) had a complete of $22.7 billion in internet written premium in Q1 2022 – up 26.8% from this time final yr.
The 17 companies concerned are American Agricultural Insurance coverage, Axis, EMC, Endurance Assurance, Everest, Normal Re, Munich Re America, Nationwide Indemnity, Odyssey Group, Companion, Renaissance, SCOR US, SiriusPoint American, Swiss Re, Toa, Transatlantic and XL.
Nationwide Indemnity led the scoreboard with a major lead at $8.3 billion, adopted by Endurance Assurance with $3.3 billion and Everest with $1.8 billion. Nonetheless, not each agency skilled a good consequence, with some like EMC and Normal Re noting some falls.
In the meantime, RAA additionally discovered that the gross written premium had elevated 15.5% to $27 billion. This strikes the mixed ratio for the group from 98.4% to 95.1% in This fall 2021.
Policyholder surplus additionally edged up from $289 billion in This fall 2021 to $292 billion in Q1 2022.
In one other report from insurance coverage brokerage Aon, a bunch of twenty-two reinsurers had reported an annual premium enhance of 16% to $134 billion in 2021. The report corresponds to greater than 50% of the worldwide reinsurance premium, Aon stated, exhibiting that the rise in annual premium is constant amongst a number of findings throughout current years.
The RAA’s full quarterly underwriting report will be discovered right here.