Fitch Ratings publishes U.S. reinsurance recoverable dashboard

Fitch Ratings has published a new dashboard report showing changes in the usage of reinsurance and credit exposure to reinsurance recoverables among U.S. property and casualty insurers.

Available to subscribers of its reports, Fitch said the dashboard includes a review of the insurers that are the most prominent buyers of reinsurance, and the reinsurers with the largest recoverable balance due to cedants. 

“Over the past decade, primary insurers have reduced the level of ceded premium as a percentage of their gross premiums written,” the ratings firm noted.

“Reduced reliance on reinsurance, better underwriting results and growth in industry surplus has led to a sharp fall in U.S. insurers’ unaffiliated reinsurance recoverables as a percentage of surplus, which was down to 22% at year-end 2013 from a recent peak of 60% in 2002.”

Fitch subscribers can review the report online.