The number of risk retention groups formed so far this year is higher than in any other first quarter over the past five years, surpassing both 2003 and 2004–years in which record numbers of RRGs were launched.
There were 58 RRGs formed in 2003 and 54 in 2004–but launches slowed down during the softening commercial lines market last year, with the total falling to 33.
However, in the first quarter of this year, 12 new RRGs have already been added to the Risk Retention Reporter listings. This is compared to only five during the corresponding period last year.
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