Best’s Rankings: US Private Flood Industry’s Direct Premiums Written Increase 42.9%
OLDWICK, N.J. //BestWire// - The U.S. private flood insurance industry’s direct premiums written increased 42.9%, according to a new Best’s Ranking report, which ranks the insurers by 2021 direct premiums written.
The industry DPW rose to $1.05 billion. DPW for the top 25 writers rose 41.1% to $1.02 billion.
A number of the ranked underwriters saw sizable increases in DPW for 2021. Top-ranked Zurich Insurance US PC Group’s DPW rose 70.9% to $168.8 million, while No. 2 American International Group’s DPW rose 108.3% to $156.9 million.
Chubb INA Group rose to ninth from 12th place as its DPW rose 188.4% to $44.2 million.
Top 25 underwriters with the biggest ranking advances were Sompo Holdings US Group, rising to No. 12 from No. 39, and Transverse Insurance Group, which jumped to No. 15 from No. 57.
The two-page report includes 2021 DPW; percentage change in premiums; market share for 2021, 2020 and 2019; adjusted loss ratios for 2021, 2020 and 2019; and percentage of company premiums.
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.
Learn more about Best’s News and Research Service.
(By David Pilla, news editor, BestWeek: David.Pilla@ambest.com)