Best’s News & Research Service - December 02, 2022 09:59 AM (EST)
2022 Best’s Rankings: Berkshire Hathaway P/C Net Premiums Decline 5% in First Nine Months
OLDWICK, N.J. //BestWire// - Berkshire Hathaway net premiums written dropped 5% to $56.58 billion during the first nine months of the year, according to a new U.S. property/casualty Best’s Ranking report.
It was the sole property/casualty writer among the 25 largest carriers to experience a decline, although policyholder surplus declined at a great majority of the insurers.
Top-ranked State Farm Group’s NPW increased 10.2% to $57.75 billion. Progressive Insurance Group, No. 3 behind Berkshire Hathaway, saw NPW rise 7.7% to $38.62 billion during the first three quarters of 2022.
NPW increased 8.7% in total for U.S. property/casualty insurers to $594.22 billion.
Policyholder surplus decreased 10.9% for total U.S. P/C writers, to $945.89 billion. Among the 10 largest carriers, No. 4 Allstate Insurance Group’s surplus fell 30%.
The report on U.S. property/casualty writers’ nine-month 2022 financial results includes NPW, admitted assets, policyholder surplus, percent changes and associated ratios.
Subscribers to Best’s News and Research Service can download the report at no charge, including data in spreadsheet format.
Subscribers can access the report and data here.
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(By Renée Kiriluk-Hill, associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)