The Reinsurance Association of America’s latest quarterly survey of statutory underwriting results for U.S. property/casualty reinsurers reveals that first-quarter 2014 net written premiums came in at $19.1 billion, with Berkshire Hathaway’s National Indemnity contributing over $14.0 billion to the total.
Excluding National Indemnity, overall net premiums for the remaining 17 reinsurers was $5.1 billion, roughly unchanged from first-quarter 2013.
The aggregate combined ratio, excluding National Indemnity again, was also fairly stable—deteriorating 1.7 points to 89.6 for first-quarter 2014, compared to 87.9 for first-quarter 2013.
Individually, premium growth and combined ratio changes varied.
While only seven of the remaining 17 reinsurers reported premium declines, double-digit declines for QBE and SCOR, together with low-single-digit jumps for some of the bigger players, contributed to a 1 percent decline in premiums for the group.
In contrast, the 17 reinsurers (the RAA group excluding National Indemnity) reported a overall premium increase of 10.8 percent in first-quarter 2013 compared to first-quarter 2012.