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Best's Rankings: US Property/Casualty NPW Rises 8.8% in 2024; Combined Ratio Moves Below 100

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OLDWICK, N.J. //BestWire// - U.S. property/casualty net premiums written increased 8.8% to $929.81 billion in 2024, according to a new Best’s Rankings report.



No. 3 Progressive Insurance Group’s NPW rose 21%, the highest rate of increase among the 10 largest writers, to $74.41 billion.

No. 1 writer State Farm Group’s NPW were up 16.4% to $107.76 billion, the second-highest rate of increase of the top 10 writers.

Berkshire Hathaway Insurance was the No. 2 writer with $80.32 billion in NPW, 4.1% higher than in 2023. Its combined ratio after dividends was the lowest among the 10 largest writers, at 84.6.

The industry combined ratio after dividends improved last year to 96.6 from 101.6. Four of the largest 10 writers exceeded that average: State Farm, 105; No. 6 Liberty Mutual Insurance Cos., 100.2; No. 8 Chubb INA Group, 97.7; and No. 10 American Family Insurance Group, 97.1.

The ranking includes NPW, admitted assets and policyholder surplus and percentage change. It includes combined ratio after dividends and more.

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 Renée Kiriluk-Hill, senior associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)


Financial Ratios Premiums Best's Rankings Property And Casualty Insurers


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