A softening of the property-casualty market in 2005 was mirrored by the declining number of risk retention groups formed by year's end–33 compared with 54 in 2004 and 58 in 2003.
Notwithstanding the decline, however, the RRG formation rate remains considerably higher than the average for the last 10 years. The total number of RRGs now stands at a record high of 217.
Three business areas–health care, property development and transportation–continue to account for the majority of RRG formations.
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