Best’s Rankings: US Workers’ Comp DPW Declines 1.7%
OLDWICK, N.J. //BestWire// - In 2024, U.S. workers’ compensation carriers saw direct written premiums decline 1.7% to settle at $57.49 billion, according to a new Best’s Rankings report.
The top 25 carriers held a 66.9% market share and accounted for $38.43 billion in DPW in 2024, which saw the overall sector’s adjusted loss ratio increase to 48.5 from 46.3 the year prior.
The top 10 carriers remained unchanged from the year prior, despite nearly all of them seeing a decline in DPW. The one exception was Old Republic Insurance Group, which saw a 1.5% increase and ranked No. 10 with $1.49 billion in DPW.
Travelers Group retained the top spot with DPW totaling $3.83 billion, while Hartford Insurance Group was No. 2 with $3.71 billion. Rounding out the top five were AmTrust Group, $3.37 billion; Zurich Insurance US PC Group, $2.88 billion; and Chubb INA Group, $2.35 billion.
Liberty Mutual Insurance Cos. saw the biggest decline among the top 25 carriers in DPW, which dropped 11.4% to settle at $1.85 billion.
The ranking includes DPW, percentage change, market share, adjusted loss ratios and 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 Steve Hallo, senior associate editor, BestWire: Steve.Hallo@ambest.com)