Best's Rankings: Chubb Overtakes Zurich, Becomes Largest US Fire and Allied Lines Writer
OLDWICK, N.J. //BestWire// - Chubb INA Group overtook Zurich Insurance US PC Group to become the top writer of U.S. fire and allied lines last year despite a 0.7% decline to $5.64 billion in direct premiums written, according to a new Best's Rankings report.
Industry DPW rose 5% to $92.17 billion. Zurich slipped to No. 2 after premiums dropped 7.2% to $5.63 billion.
Travelers Group's 8.7% rise in DPW to $3.22 billion moved it ahead of American International Group Inc. to No. 7. AIG's premiums fell 22.9% to $2.89 billion.
Several writers moved into the list of the 100 largest writers of fire and allied lines: No. 44 Beazley USA Insurance Group, with $450.6 million in DPW; No. 83 Slaine Insurance Group, with $140.9 million in premium; No. 98 Kin Insurance Group, $107.9 million in premium; and No. 99 Mercury Casualty Group, $105.6 million in DPW.
The report includes 2024 direct premiums written and percentage change, three years of market share and adjusted loss ratios and the percentage share of company premiums for the line.
Learn more about Best’s News and Research Service.
Subscribers can access the report and data here.
AM Best data sourced from Best’s Financial Suite, US.
(By Renée Kiriluk-Hill, senior associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)