Best’s Rankings: US Property/Casualty Industry 2022 Six-Month Combined Ratio Rises to 100
OLDWICK, N.J. //BestWire// - The U.S. property/casualty industry’s combined ratio after dividends hit 100 for the first six months of 2022, up from 97 for the same period the previous year, according to a 2022 Best’s Ranking.
The net income to net premiums earned ratio dropped to 8.7 in the first half of 2022, down from 11.7 a year ago, according to AM Best’s U.S. Property/Casualty – Six-Month 2020 Financial Results ranking study.
Direct premiums written rose 10% in the first half of 2022, compared with a 9.2% rise in the same period of 2021.
State Farm Group topped the list with $37.34 billion in net premiums written for the first half of the year, an increase of 9.6% from the same period a year ago.
Allstate Insurance Group saw the largest increase among the top five companies in net premiums written at 9.7%, to $20.72 billion.
The report measures net income to net premiums earned (including realized capital gains) and combined ratio after dividends (the sum of the loss ratio, expense ratio and dividend ratio) for the total U.S. property/casualty industry.
The information for each company or group in this study also includes direct premiums written, net premiums written, admitted assets and policyholders’ surplus and their percent change; and direct premiums written to policyholders’ surplus, among other information.
Subscribers to Best’s News and Research Service can download the report at no charge, including full data in spreadsheet format.
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(By Anthony Bellano, associate editor, Best’s Review: anthony.bellano@ambest.com)