Reinsurers’ net premiums written rise in first half

Net premiums written during the first half of this year increased to $42.1 billion from $37.1 billion in the year-earlier period among a group of 17 U.S. property/casualty reinsurers, according to their statutory underwriting results, the Reinsurance Association of America said Monday.

The combined ratio for the group improved to 96.1% from 96.8% for the same period in 2021.

The group’s loss ratio increased to 73.5% from 72.4%, while the expense ratio decreased to 22.6% from 24.4%.  

Net income for the group fell to $4.099 billion from $7.149 billion, with the bulk of the difference borne by National Indemnity Co., a subsidiary of Berkshire Hathaway Inc.

The policyholders’ surplus decreased to $246.3 billion from $292.2 billion as of March 31.