RRG 2002 Premium Projected Over $1 BillionAlong with the dramatic rise in the number of risk retention groupformations, the final tally for RRG annual premium for 2002 isprojected to soar to well over a billion dollars, with increases inalmost all business areas, according to the Risk RetentionReporter's annual survey.
Gross written premium for 2002, based onprojections provided by RRGs, is estimated to total $1.28 billion,an increase of $284 million (30.1 percent) over the previous yearand 53 percent higher than the 2000 premium of $803 million. Theaverage premium per RRG is projected to increase by 18.6 percent to$15.5 million, while the number of insureds is expected to grow to182,600, a 5.7 percent gain.
The largest premium producing sectors are healthcare,professional services, and government and institutions, whichproduce the lion's share of RRG premium. Collectively theyrepresent more than 84 percent of RRG premium.
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