Best's Rankings: US Three-Month P/C Net Premiums Written Rise 7.3%
OLDWICK, N.J. //BestWire// - Net premiums written for the U.S. property/casualty industry rose 7.3% to $226.0 billion in the first three months of 2024, according to a new Best's Ranking report.
NPW rose 6.4% to $157.08 billion for the top 25 writers. For the top 100 writers, NPW rose 6.9% to $202.9 billion.
Three-month direct premiums written rose 10.5% in the first three months of 2024 compared with a 9.9% rise a year earlier. Admitted assets rose 2.4% in the first three months of 2024 compared with a 3.9% rise a year earlier. Policyholder surplus rose 3.7% compared with a 4.2% hike in 2023.
Among the top 25 writers, first-ranked State Farm Group's three-month NPW rose 19.3% to $25.20 billion. Berkshire Hathaway Insurance, at No. 2, saw NPW fall 15.6% to $19.51 billion. Third-ranked Progressive Insurance Group's NPW rose 17.4% to $18.92 billion.
The Best’s Ranking report lists the top writers of P/C insurance in the first three months of 2024, their net premiums written, admitted assets and policyholder surplus; percentage change in direct premiums written, NPW, admitted assets and PHS; and other data.
Subscribers to Best’s News and Research Service can download the report at no charge, including data in spreadsheet format.
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.