Best’s News & Research Service - June 14, 2024 10:19 AM (EDT)
Best's Rankings: US Three-Month P/C Net Premiums Written Rise 7.3%
OLDWICK, N.J. //BestWire// - Net premiums written for the U.S. property/casualty industry rose 7.3% to $226.0 billion in the first three months of 2024, according to a new Best's Ranking report.
NPW rose 6.4% to $157.08 billion for the top 25 writers. For the top 100 writers, NPW rose 6.9% to $202.9 billion.
Three-month direct premiums written rose 10.5% in the first three months of 2024 compared with a 9.9% rise a year earlier. Admitted assets rose 2.4% in the first three months of 2024 compared with a 3.9% rise a year earlier. Policyholder surplus rose 3.7% compared with a 4.2% hike in 2023.
Among the top 25 writers, first-ranked State Farm Group's three-month NPW rose 19.3% to $25.20 billion. Berkshire Hathaway Insurance, at No. 2, saw NPW fall 15.6% to $19.51 billion. Third-ranked Progressive Insurance Group's NPW rose 17.4% to $18.92 billion.
The Best’s Ranking report lists the top writers of P/C insurance in the first three months of 2024, their net premiums written, admitted assets and policyholder surplus; percentage change in direct premiums written, NPW, admitted assets and PHS; and other data.
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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AM Best data sourced from Best's Financial Suite, US.