Best’s News & Research Service - June 16, 2022 11:08 AM (EDT)
Best’s Rankings: US Commercial Multiperil Direct Premiums Written Increases 7.4% in 2021
OLDWICK, N.J. //BestWire// - Travelers Group retained its perch atop the ranking of U.S. commercial multiperil companies by direct premiums written, with Chubb INA Group and Liberty Mutual Insurance Cos. switching places to take second and third place, according to a new Best’s Ranking report.
Across the industry, commercial multiperil direct written premiums climbed 7.4% in 2021 to about $49.97 billion.
Travelers had $3.98 billion in 2021 direct premiums written, up 5.8% from the prior year, according to the data. Chubb’s 13.1% growth to about $2.77 billion for the period was the largest growth of the top five and Liberty Mutual reported about $2.7 billion, almost flat with growth of 0.3% over the year.
Among the top 10, the 13.2% growth registered by Auto-Owners Insurers Group to $1.52 billion was the largest growth in 2021. Twentieth-placed Zurich Insurance U.S. PC Group was the only company in the top 20 to lose share over the period, with direct premiums written of about $690.34 million down 0.1%.
The AM Best ranking measures direct premiums written in 2021, as well as the change on a percentage basis; market share; adjusted loss ratios; and the percentage of company 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)