General Insurance Article - RAA releases Offshore Reinsurance in the US Market report

 The Reinsurance Association of America (RAA) has released its report Offshore Reinsurance in the US Market: 2011 Data. The report is prepared based on ceded reinsurance as reported in Schedule F, Part 3 data filed with the National Association of Insurance Commissioners (NAIC), and presents 2011 statistics on US premiums ceded to, and net recoverables from, more than 4,800 reinsurers in 103 jurisdictions outside the US. Additionally, the report ranks offshore jurisdictions with the largest participation in the US market for both affiliated and unaffiliated reinsurance business, and provides historical market share trends of US reinsurance companies versus offshore companies. The report underscores the critical role the reinsurance industry plays in spreading risks globally, increasing insurance capacity, limiting insurer liability on specific risks, stabilizing loss experience, and helping insurers meet their obligations after major natural and man-made catastrophic risk.

 In 2011, total US premium ceded to offshore reinsurers was $59.4bn, an increase of 4.8%. Net recoverables totaled $110.9bn, an increase of 1.2%.

 The RAA has reported annual statistics on offshore participation in the US market in its report, Offshore Reinsurance in the US Market, since 1990. The objective is to provide policymakers and the public with data and analysis about the US reinsurance market. The Offshore Reinsurance in the US Market: 2011 Data is available from the RAA.

 To view the report please click here