Best’s News & Research Service - September 12, 2025 10:15 AM (EDT)
Best’s Rankings: US P/C Long-Term Care Direct Premiums Written Decrease 3.2% in 2024
OLDWICK, N.J. //BestWire// - The U.S. property/casualty long-term care industry's direct premium written declined 3.2% in 2024 to $625.1 million, according to a new Best's Rankings report.
CNA Insurance Cos. retained the top spot, with its $389.2 million in DPW down 3.6% from 2023, according to the data. CNA had a market share of 62.3%, according to the ranking.
Second-place State Farm Group, which reported direct premiums written dropped 2.8% to $215.8 million in 2024, held a market share of 34.5%, according to the report.
W.R. Berkley Insurance Group, which moved up two spots to No. 3, reported DPW increased 17.8% to $6.4 million in 2024, the biggest gain on the list. It had a market share of 1%.
Frankenmuth Insurance Group, which was ranked last among the 12 carriers listed, registered the largest drop in DPW in 2024 with its $3,000 down 40%, according to the report.
The one-page AM Best ranking measures 2024 direct premiums written, percentage change from the prior year, market share on a percentage basis for 2024, 2023 and 2022, adjusted loss ratio for those three years, and the percentage of company premiums.
Subscribers can access the report and data here.
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AM Best data sourced from Best’s Financial Suite, US.
(By Terrence Dopp, senior associate editor, Best’s Review: Terry.Dopp@ambest.com)