Canada Reinsurers Boost NWP 30 Percent

Canada Correspondent


Canadian licensed reinsurers boosted net written premiums on the back of higher pricing by more than 30 percent to about $1.84 billion for the 2002 financial year, according to the latest financial data collected by the Toronto-based Reinsurance Research Council.

The total Canadian reinsurance market, including business placed with non-registered (offshore) companies, grew at a similar rate to reach a total written premium base of about $4.5 billion, according to A.M. Best data. (Roughly half the reinsurance premiums are placed offshore. All dollar amounts reflect the approximate U.S. dollar value based on the Canadian dollar exchange rate).

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