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Best’s News & Research Service - June 16, 2022 11:00 AM (EDT)

Best’s Rankings: US P/C 2021 Direct Premiums Written By Line Rise 9.5%

OLDWICK, N.J. //BestWire// - Direct premiums written increased 9.5% to $798.16 billion for U.S. property/casualty insurers in 2021, according to a new Best’s Rankings report that compares direct premiums written by line.

Private passenger automobile liability led the list of U.S. property/casualty lines ranked by direct premiums written in 2021 with 19.2% of total DPW, up 3.2% from 2020.

However, the adjusted loss ratio in the line worsened 8.1 points to 66 last year.

The largest private passenger automobile liability writer is State Farm Group. It wrote 15.6% of the line’s overall $152.92 billion of direct premium written. Progressive Insurance Group’s 14.9% share of the private passenger auto liability market was second.

Homeowners multiple peril direct premiums written increased 8.3% to $119.74 billion.

A number of U.S. property/casualty lines experienced double-digit growth in 2021, including commercial auto liability, up 18.5%; inland marine, up 14.9%; and multiperil crop, up 37.5%.

Private flood direct premiums written represented one-tenth of the overall U.S. property/casualty market as premiums rose 42.9% to $1.05 billion.

The single-page AM Best report measures domestic premiums by line of business.

Subscribers to Best’s News and Research Service can download the report at no charge, including full data in spreadsheet format. Fields include: 2021 direct premiums written by line; percent of total; percent change; adjusted loss ratios for 2021 and 2020; leading writer, percent market share and percent of writer total DPW; second leading writer, percent market share and percent of writer total DPW.

Subscribers can access the report and data here.

Learn more about Best’s News and Research Service.

(By Renée Kiriluk-Hill, associate editor, BestWeek:

Best's Rankings Property And Casualty Insurers

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