From: Risk Retention Reporter
Risk retention group premium increased by a strong 13.5% in 2021 to $4,352.6 million, an increase of $516.8 million over the $3,835.8 million reported in 2020. It was the strongest year for RRG premium growth in dollar terms since 2003.
Premium growth was dispersed across a range of business sectors. The largest growth was at the recently reactivated Healthcare RRG Emergency Capital Management LLC, A RRG which wrote $86.5 million in premium in 2021. Emergency Capital Management RRG will be providing coverage to employees of Envision Healthcare—for more information see the March 2022 Risk Retention Reporter.
Other Healthcare RRGs with strong premium growth include MedPro RRG Risk Retention Group which saw premium increase to $204.4 million from $157.7, an increase of 29.6% or $46.7 million, and Graph Insurance Group RRG LLC which saw premium increase to $55 million from $38.2 million, an increase of 46% of $17.6 million.
United Educators Ins. RRG Inc.—an RRG serving the Government & Institutions sector—saw the second largest increase in dollar terms with premium increasing to $340.2 million in 2021 from $291.8 million in 2020, an increase of $48.4 million or 16.6%. Another RRG serving the Government & Institutions sector—Alliance of Nonprofits for Insurance RRG—posted a premium increase of $20.0 million that took premium up to $107.6 million in 2021.