28 August 2014Actuarial & underwriting

US property/casualty reinsurers seeing strong growth

The total surplus of a major group of US property/casualty reinsurers increased by more than $4bn in the second quarter of 2014, according to the Reinsurance Association of America (RAA).

Financial data compiled from 18 leading reinsurers, including Swiss Re, Everest and Munich Re America, revealed that the combined ratio for the group was 92.3 percent for the first half of 2014, down 1.6 percent on the previous quarter.

RAA also found that the group’s total policy surplus hit $143 billion in the first six months of the year, surpassing Q1 2014 by almost $3 billion.

The statistics are arguably clear indicators of a strong period of financial growth for reinsurance companies.