The Reinsurance Association of America said a group of 19 U.S.-based property/casualty reinsurers reported higher net written premiums and net income for 2012 compared to 2011.
The RAA said Thursday that a survey of statutory underwriting results showed these 19 reinsurers wrote $29.5 billion of net premiums for 2012, up 11.7 percent compared to $26.4 billion for 2011.
The combined ratio for the group was 96.2 for 2012, improving from a 107.2 combined ratio reported for 2011. The combined ratio was attributable to a 66.1 loss ratio and an expense ratio of 30.1. The overall net income for the reinsurers was nearly $8 billion last year, up nearly 20 percent from $6.7 billion in 2011.
The following chart shows statutory results of the 19 reinsurers for the 12 months ended on Dec. 31, 2012, from a survey by the Reinsurance Association of America. (All dollar figures are in thousands.)
This article was originally published on Insurance Journal’s website by IJ’s East Coast Editor Young Ha