Best's Rankings: Half of 10 Top US P/C Writers Hike First Half NPW by Double Digits
OLDWICK, N.J. //BestWire// - Five of the 10 largest U.S. property/casualty writers increased the percentage of net premiums written in the mid-to-high teens in the first half of 2024, according to a new Best’s Ranking.
Overall U.S. property/casualty net premiums written increased 9.1% in the first half of the year to $463.51 billion.
State Farm Group remained No. 1, hiking NPW 18.8% to $52.43 billion. That rate of increase was exceeded by No. 3 Progressive Insurance Group, where premiums rose 19.8% to $36.91 billion.
However, Liberty Mutual Insurance Cos. decreased NPW 5.5% to $18.65 billion, dropping to No. 6, as Travelers Group took the No. 5 spot with $20.23 billion of net premiums written, an 8.7% increase.
Nationwide P&C Group fell two positions, to No. 11, after NPW declined 11% to $8.96 billion.
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AM Best data sourced from Best’s Financial Suite, US.
(By Renée Kiriluk-Hill, senior associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)