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Reinsurers report higher premiums, profitable insurance



US reinsurers reported premium growth of more than 20% in the first quarter and global reinsurance companies reported double-digit premium growth last year, according to two reports released on Friday.

The Reinsurance Association of America said that the group of 17 U.S. property / accident reinsurers it tracks reported $ 22.7 billion in net premiums in the first quarter of 2022, an increase of 26.8% over the same period last year. The Group’s gross income premium increased by 15.5% to USD 27 billion.

The total expense ratio for the Group improved to 95.1% from 98.4% during the 2021 quarter.

In a separate report from Aon PLC, the brokerage said that a group of 22 reinsurance companies that they track globally, which they say represent more than 50% of the global reinsurance premium, reported the gross reinsurance premium for property / accident of $ 1

34 billion last year, an increase of 16 % in 2020. The group reported USD 131 billion in primary insurance premiums, an increase of 20% compared to the previous year.

The total cost ratio for reinsurance companies improved to 96.2% in 2021 from 103.3% in 2020.

Total global reinsurance capital rose to $ 675 billion, an increase of 3.8% over 2020, Aon estimates.


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