Best’s News & Research Service - March 18, 2022 08:54 AM (EDT)
Best’s Ranking: US Property/Casualty Insurers’ Total Net Premiums Written Rose 9.3% in 2021
OLDWICK, N.J. //BestWire// - Total U.S. property/casualty insurers’ net premiums written increased 9.3% in 2021 to $709.94 billion, compared with the previous year, according to a new Best’s Ranking report.
For the top 25 U.S. insurers, NPW rose 9.4% to $497.23 billion.
Nine of the top 10 property/casualty insurers saw NPW rise in 2021. Double-digit gainers among the top 10 included No. 2 writer Berkshire Hathaway, with NPW up 20.7% to $68.34 billion; No. 3 Progressive Insurance Group, up 13.7% to $46.61 billion; and No. 8 Chubb INA Group, up 10.6% to $21.60 billion.
The only writer with lower 2021 NPW among the top 10 and the top 25 is 10th-place Farmers Insurance Group, down 10.7% to $15.96 billion.
Among the top 25, Munich-American Holding Corp. Cos., at No. 15, saw NPW rise at the highest rate, up 38.6% to $9.78 billion.
No. 1 insurer State Farm Group saw NPW rise 6.1% to $69.65 billion.
Subscribers to Best’s News and Research Service can download the report at no charge, including data in spreadsheet format.
The rankings include direct premiums written, net premiums written, admitted assets, policyholder surplus and percentage changes.
Subscribers can access the report and data.318364
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(By David Pilla, news editor, BestWeek: David.Pilla@ambest.com)