A survey of risk retention groups conducted by the Risk Retention Reporter reveals modest growth of RRG premium, insureds and formations.
The 20th annual survey found that 23 RRGs were formed in the first nine months of 2007, compared with 26 for the same period last year. Health care remains the business sector accounting for the lion's share of formations, premium and insureds.
The survey projects that 2007 RRG gross written premium will grow to $2.72 billion–an increase of $77.3 million (2.9 percent) over 2006 premium, but less than half the rate of growth achieved last year (7.7 percent).
Premium increases are estimated for three business areas, while declines are projected for four business areas.
The accompanying chart summarizes the data on premium, insureds and average premium per RRG for 2007, 2006 and 2005.
A full report and analysis of survey results by business area is published in the October 2007 Risk Retention Reporter.
Karen Cutts is editor and publisher of the “Risk Retention Reporter” in Pasadena, Calif. Visit www.rrr.com for information on risk retention groups and purchasing groups.
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