US reinsurers’ results up in first half

US reinsurers’ net premiums were up 15.6% in the first half of 2021 compared with the same period last year, according to the Reinsurance Association of America (RAA). The reinsurers it surveyed wrote $37.1 billion of net premiums during the first six months – against $32.1bn in the first half of 2020.

The trade association’s Underwriting and Operating Report provides the cumulative quarterly underwriting and operating results of 17 major US property and casualty reinsurers.

The report shows the combined ratio for the reinsurers also improved, at 96.8% for the first half of 2021, from 98.4% in H1 2020. That resulted from a 72.4% loss ratio and a 24.4% expense ratio (compared with 73.4% and 25.0% in the same period last year).

The reinsurers’ policyholders surplus climbed from $237.8bn to $256.8bn.