Commercial Insurance

Reinsurance is essentially insurance for insurance companies. It is a way for primary insurers to protect against unforeseen or extraordinary losses. Reinsurance also serves to limit liability on specific risks, to increase an insurer's capacity to write business and to help insurers stabilize their business in the face of the wide swings in profit and loss margins, which are inherent in the insurance business.

Premiums

Net Premiums Written, U.S. Property/Casualty Reinsurers, 2012-2021

($000)

Year Net premiums written Annual percent change Combined ratio (1) Annual point change
2012 $31,649,616 13.4% 96.2 -10.9 pts.
2013 29,144,853  -7.9 86.8 -9.4
2014 50,012,241 (2) 71.6 91.0 4.2
2015 41,466,073 -17.1 92.3 1.3
2016 42,507,830 2.5 95.1 2.8
2017 48,967,222 15.2 108.4 13.3
2018 63,153,563 29.0 103.3 -5.1
2019 61,835,210 -2.1 100.5 -2.8
2020 69,401,178 12.2 101.4 0.9
2021 80,977,860 16.7 99.2 -2.2

(1) After dividends to policyholders.
(2) Includes National Indemnity Co.'s loss portfolio and quota share agreements with affiliated GEICO companies.

Source: Reinsurance Association of America.

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Leading Companies

Top 10 U.S. Property/Casualty Reinsurers Of U.S. Business By Gross Premiums Written, 2021

($000)

Rank Company (1) Country of parent company Gross premiums written
1 National Indemnity Co. U.S. $30,578,584
2 Everest Reinsurance Co. Bermuda 9,552,555
3 Swiss Reinsurance America Corp Switzerland 8,685,714
4 XL Reinsurance America Inc. Bermuda 8,582,877
5 Munich Re America, Corp. Germany 7,913,179
6 Transatlantic Reinsurance Co. U.S. 5,436,305
7 Odyssey Group Canada 5,338,277
8 General Reinsurance Corp. U.S. 4,100,562
9 Partner Re Co. of the U.S. France 2,773,053
10 SCOR Reinsurance Company Group Bermuda 2,772,343

(1) See Reinsurance Underwriting Review 2021 notes posted at www.reinsurance.org for a list of affiliated companies included.

Source: Reinsurance Association of America.

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