Best’s Rankings: US Other Private Passenger Auto Liability DPW Up, Loss Ratio Down in 2024
OLDWICK, N.J. //BestWire// - Carriers writing other private passenger automobile liability in the United States saw direct premiums written increased 12.7% from the year prior to reach $182.44 billion in 2024, which also saw the sector’s adjusted loss ratio improved to 71.4 from 77.3, according to a new Best’s Rankings report.
While DPW was up from 2024, the top five carriers in the sector were unchanged, with State Farm Group retaining the leading position with $32.99 billion. State Farm’s 2024 market share of 18.1% was up from 17.5%.
Progressive Insurance Group ranked No. 2 with a 17.7% market share and a 25.6% jump in DPW to $32.21 billion. Rounding out the top five were: Berkshire Hathaway Insurance, with $21.13 billion in DPW; Allstate Insurance Group, with $19.62 billion; and USAA Group, with $10.72 billion.
Among the top 25 carriers, the only year-over-year change for the 2024 ranking was at No. 19, where Auto Club Group moved up one spot from the year prior and Alfa Insurance Group fell to No. 20. Both insurers had market shares of less than 1%, according to the report.
Subscribers can access the report and data here.
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AM Best data sourced from Best’s Financial Suite, US.
(By Steve Hallo, senior associate editor, BestWire: Steve.Hallo@ambest.com)