Best’s News & Research Service - June 18, 2021 03:09 PM (EDT)
2021 Best’s Rankings: US Total Auto Direct Premiums Down 1.1%
OLDWICK, N.J. //BestWire// - Direct premiums written for the top 100 U.S. total automobile writers decreased 1.1% to $282.32 billion in 2020, according to a new Best’s Rankings report.
Total direct premiums written for the U.S. total auto industry also dropped 1.1% to $296.11 billion.
The top seven insurers in the rankings kept their positions from the previous year. No. 1 ranked State Farm Group’s direct premiums written dropped 2.4% to $41.08 billion. Among the top five U.S. total/auto insurers, Progressive Insurance Group at No. 2 had the biggest increase in direct premiums written, up 5.8% to $38.74 billion.
The three-page AM Best report measures direct premiums written for 2020, the percentage change, adjusted loss ratios, market share, and the percentage of company premiums. Data for some companies in this report has been received from the National Association of Insurance Commissioners.
Subscribers can access the report and data.
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(By Frank Klimko, Washington correspondent, BestWeek: Frank.Klimko@ambest.com)