Best’s News & Research Service - September 15, 2023 10:10 AM (EDT)
Best’s Rankings: US Homeowners Multiperil Direct Premiums Written Rise 11.7% in 2022
OLDWICK, N.J. //BestWire// - The U.S. homeowners multiperil industry’s direct premiums written increased 11.7% to $133.8 billion in 2022 according to a new Best’s Rankings report. The ranking found no movement among the top carriers in the segment.
State Farm Group topped the list of carriers with its $24.43 billion in DPW up by 10.8% over the previous year and a market share of 18.3%. Homeowners multiperil accounted for 31.1% of company premiums, according to the data.
There was no movement among the top 10 carriers by ranking.
No. 6-ranked Travelers Group, which posted $6.5 billion in DPW, saw the largest increase in that figure among the top 10 companies on the list. Third-place Liberty Mutual Insurance Cos. saw the second-largest increase in DPW with its $9.73 billion up by 16.1%.
The three-page report measures 2022 DPW for the top 100 U.S. homeowners insurers, the percent change from the previous year, market share and adjusted loss ratios for 2022, 2021 and 2020. It also details homeowners insurance as a percentage of the company’s total premiums.
Subscribers can access the report and data here.
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(By Terrence Dopp, senior associate editor, Best’s Review: Terry.Dopp@ambest.com)