ALIRT Sees Continued Proliferation Of New - and Growth Of Existing - Risk Retention Groups As Market Pricing Remains Firm

In a recent client release, ALIRT discusses the financial performance of its Risk Retention Group composite as of 2022 financial filings.

HARTFORD, Conn., May 17, 2023 /PRNewswire/ -- According to ALIRT Research's recent market review, Risk Retention Groups (RRGs) represent a small but important sector of the overall U.S. P&C industry. While writing less than 1% of overall industry direct premium in 2022, these insurers continue to address niche market needs as commercial insurance rates remain elevated and more traditional carriers tighten terms and conditions and/or exit certain lines of business/geographies altogether. 

In its newly released report, ALIRT provides insight into the 2022 performance trends of its RRG Composite, discussing targeted lines of business, geographical dispersion, premium and earnings trends, as well as capitalization, reinsurance utilization, and ALIRT Score performance.

ALIRT observes that RRG's have struggled to turn an underwriting profit amid strong growth over the past decade but that favorable 2022 financial results may represent a turning point.  That said, ALIRT states that the bespoke nature of this market has historically led to widely disparate financial outcomes for individual risk retention groups, which should invite additional oversight by insurance distributors and regulators.

For an abbreviated version of the report, please contact ALIRT at [email protected]

About ALIRT Insurance Research

ALIRT Insurance Research models the financial performance trends of life, health, and property & casualty insurers versus their peers and respective insurance industry sectors. This work is used by ALIRT's clients to meet due diligence, competitive intelligence, and sales/marketing needs. With over 20 years of experience, long-time insurance market relationships, and an emphasis on service, ALIRT helps its customers go beyond ratings and financial data to enhance and strengthen their insurance carrier oversight efforts.

Media Contact:
David Paul
[email protected]

SOURCE ALIRT Insurance Research

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