Gross premiums written in our other property class of business were $1.1 billion in 2020, an increase of $276.8 million, or 33.1%, compared to 2019. The increase in gross premiums written in our other property class of business was primarily driven by growth from existing relationships, new opportunities across a number of our underwriting platforms, and business acquired as a result of the acquisition of TMR. As our other property class of business has become a larger percentage of our Property segment gross premiums written, the amount of proportional business has increased. Proportional business typically has a higher expense ratio and combined ratio than traditional excess of loss reinsurance. Our Property segment gross premiums written continue to be characterized by a large percentage of U.S. and Caribbean premium, as we have found business derived from exposures in Europe, Asia and the rest of the world to be, in general, less attractive on a risk-adjusted basis during recent periods. A significant amount of our U.S. and Caribbean premium provides coverage against windstorms, notably U.S. Atlantic windstorms, as well as earthquakes and other natural and man-made catastrophes. Property Ceded Premiums Written Year ended December 31, 2021 2020 2019 (in thousands) Ceded premiums written - Property $ 1,090,722 $ 961,942 $ 776,726 Ceded premiums written in our Property segment increased 13.4%, to $1.1 billion, in 2021, compared to $961.9 million in 2020. The increase in ceded premiums written was primarily driven by higher gross premiums written in 2021, which were ceded to Upsilon RFO, and ceded reinstatement premiums earned of $54.7 million associated with the 2021 Weather-Related Large Losses. Ceded premiums written in our Property segment increased $185.2 million, to $961.9 million, in 2020, compared to $776.7 million in 2019. The increase in ceded premiums written was principally due to certain of the gross premiums written in the catastrophe class of business noted above being ceded to third-party investors in our managed vehicles, primarily Upsilon RFO , as well as an overall increase in ceded purchases as part of the Company’s gross-to-net strategy. Due to the potential volatility of the reinsurance contracts which we sell, we purchase reinsurance to reduce our exposure to large losses and to help manage our risk portfolio. To the extent that appropriately priced coverage is available, we anticipate continued use of retrocessional reinsurance to reduce the impact of large losses on our financial results and to manage our portfolio of risk; however, the buying of ceded reinsurance in our Property segment is based on market opportunities and is not based on placing a specific reinsurance program each year. In addition, in future periods, we may utilize the growing market for insurance-linked securities to expand our purchases of retrocessional reinsurance if we find the pricing and terms of such coverages attractive. Property Underwriting Results Our Property segment incurred an underwriting loss of $185.5 million in 2021, compared to underwriting income of $11.0 million in 2020, a decrease of $196.5 million. In 2021, our Property segment generated a net claims and claim expense ratio of 82.9%, an underwriting expense ratio of 24.2% and a combined ratio of 107.1%, compared to 74.2%, 25.2% and 99.4%, respectively, in 2020. Principally impacting the Property segment underwriting result and combined ratio in 2021 were the 2021 Weather-Related Large Losses, which resulted in a net negative impact on the Property segment underwriting result of $1.4 billion and added 58.6 percentage points to the combined ratio. In comparison, 2020 was impacted by the 2020 Weather-Related Large Loss Events, which resulted in a net negative impact on the underwriting result of $651.9 million and added 35.0 percentage points to the combined ratio, and COVID-19 losses, which resulted in a net negative impact on the underwriting result of $235.0 million and added 12.3 percentage points to the combined ratio. 79