Best’s News & Research Service - July 23, 2021 11:02 AM (EDT)
Best’s Rankings: US Auto Liability Direct Premiums Decreased 1.6% in 2020
OLDWICK, N.J. //BestWire// - U.S. automobile liability insurers saw direct premiums written in 2020 drop 1.6% from the prior year to $183.23 billion, according to a 2021 Best’s Ranking report.
Progressive Insurance Group topped the ranking of automobile liability insurers, with its $25.88 billion in direct premiums for 2020 coming in 5.2% above the prior year. State Farm Group, which took the No. 2 spot, saw its total decrease 4.3% to $24.06 billion.
American Family Insurance Group saw the largest percentage drop among the top 10 largest U.S. auto liability insurers, with$3.33 billion in DPW in 2020 — down 9.2% from the prior year.Nationwide Group, which ranked ninth overall, saw the next biggest decrease among the top 10, with the $4.54 billion in DPW it registered in 2020 down by 7%.
The three-page AM Best report measures: 2020 direct premiums written; the percent change from the prior year; market share and adjusted loss ratios for 2018, 2019 and 2020, as well as the segment as a percentage percentage of company premiums.
Subscribers can access the report and data here.
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(By Terrence Dopp, senior associate editor, Best’s Review: Terry.Dopp@ambest.com)