Reinsurance Association Of America

Organization Overview

Reinsurance Association Of America is located in Washington, DC. The organization was established in 1969. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Reinsurance Association Of America employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reinsurance Association Of America is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Reinsurance Association Of America generated $8.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $8.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ASSIST MEMBERS IN PROTECTING THE INTERESTS OF THE INDUSTRY, TO ACT AS THE INDUSTRY REPRESENTATIVE, AND TO ASSIST REINSURERS BY COLLECTING AND DISSEMINATING INFORMATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TESTIMONY - ON BEHALF OF THE MEMBERSHIP, STAFF PREPARE AND GIVE TESTIMONY TO FEDERAL AND STATE LEGISLATIVE BODIES, CONGRESSIONAL COMMITTEES AND SUBCOMMITTEES. STAFF ALSO ATTEND INDUSTRY WIDE MEETINGS AND CONFERENCES PERTAINING TO ISSUES OF CONCERN TO PROPERTY/CASUALTY AND LIFE REINSURERS AND PRIMARY INSURERS.


STATISTICAL STUDIES AND EDUCATION PROGRAMS - STAFF CONDUCTS EDUCATIONAL SEMINARS PERTAINING TO REINSURANCE AND PREPARES STATISTICAL STUDIES RELATED TO REINSURANCE VOLUME AND LOSSES VERSUS EXPENSES IN POLICY HOLDER SURPLUS. THESE SEMINARS AND STUDIES ARE MADE AVAILABLE TO THE INDUSTRY AND ALL INTERESTED PARTIES.


LOBBYING - OUTSIDE SERVICES ARE OBTAINED TO LOBBY ON BEHALF OF THE ASSOCIATION AND ITS MEMBERS IN AREAS SUCH AS FINANCIAL SERVICES LEGISLATION, ENVIRONMENTAL LEGISLATION AND AMICUS BRIEF FILINGS. OUTSIDE SERVICES ARE ALSO OBTAINED FOR ADVICE AND WORK PERFORMED ON ACTUARIAL SERVICES IN RELATION TO THE ASSOCIATION'S STATISTICAL STUDIES.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Williams & Jensen Pllc
Outside Counsel, Federal Representative
$180,392
Capitol Counsel Llc
Outside Counsel, Federal Representative
$120,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$8,124,765
Investment income $381,180
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $314
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,536,934

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