Best's Rankings: US Products Liability (Occurrence) 2024 Direct Premiums Written Increase 5.5%
OLDWICK, N.J. //BestWire// - Direct premiums written rose 5.5% to $4.68 billion in 2024 for the U.S. products liability (occurrence) market, according to a new Best's Ranking report.
For the top 25 writers, DPW rose 6.6% to $3.88 billion.
Among the top 10 writers, Chubb INA Group retained its No. 1 position as its DPW rose 4.8% to $369.4 million.
Three of the top 10 writers recorded double-digit premium growth as second-ranked American International Group rose from No. 4 with DPW increasing 34.7% to $308.1 million.
At No. 6, Hartford Insurance Group saw a 20.6% increase in DPW, and No. 10 Zurich Insurance US P/C Group's DPW rose 29.6%.
Liberty Mutual Insurance Cos. fell to No. 11 from No 2 as its DPW fell 19.9% to $188.8 million.
The three-page report measures 2024 DPW; percent change in premiums; market share and adjusted loss ratios or 2024, 2023 and 2022; and percent of company premiums.
Subscribers can access the report and data here.
Learn more about Best's News and Research Service.
AM Best data sourced from Best's Financial Suite, US.
(By David Pilla, news editor, BestWire: David.Pilla@ambest.com)