Best’s News & Research Service - August 08, 2025 10:39 AM (EDT)
Best's Rankings: US Private Flood DPW Sinks 10% in 2024 to $1.29 Billion
OLDWICK, N.J. //BestWire// - U.S. private flood direct premiums written sank 10% in 2024 to $1.29 billion, according to a new Best's Rankings report.
XL America Cos. became the top writer of the line, rising above Berkshire Hathaway Insurance. XL America's direct premiums written increased 10.6% in the line, to $159.9 million.
Berkshire Hathaway, No. 1 a year earlier, became the second-largest writer of U.S. private flood after DPW dropped 18.3% to $150.3 million. Assurant P&C Group rose to $142 million in DPW, bringing it from No. 4 to No. 3.
Among the remainder of the top-10 writers of the line, only No. 9 Sompo Holdings US Group held the same position as the prior year, although its DPW declined 7.7% to $59.7 million.
The report includes 2024 direct premiums written and percentage change, three years of market share and adjusted loss ratios and the percentage share of company premiums for the line.
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AM Best data sourced from Best’s Financial Suite, US.
(By Renée Kiriluk-Hill, senior associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)