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Best’s News & Research Service - July 22, 2022 10:34 AM (EDT)

Best’s Rankings: US Private Passenger Auto Direct Premiums Written Rise 4.6% in 2021

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OLDWICK, N.J. //BestWire// - Private passenger automobile direct premiums written increased 4.6% to $261.62 billion in the United States in 2021, according to a Best’s Ranking.

Best’s Ranking chart, five largest private passenger auto direct premium carriers

State Farm Group increased premiums 3.1% to $41.67 billion and remained the largest writer. No. 2 Berkshire Hathaway Insurance grew premiums 10.8% and No. 3 Progressive took in an additional 8.1% in private passenger auto direct premiums written.

Each group in the top-10 maintained its position, although premiums declined at No. 5 USAA Group and No. 8 Nationwide Group.

Insurtech Root Insurance Group moved up two places to No. 32 on a 17.7% increase in premiums, to $724.6 million.

Premiums at Redpoint County Mutual Insurance Co., which offers coverage through independent managing general agencies, rose 47.8%, moving to to the No. 54 position. In a late-2020 regulatory filing, it said new Tesla insurance program private passenger auto would be distributed in Texas through a digital insurtech platform from Tesla Insurance Services of Texas Inc.

Subscribers to Best’s News and Research Service can download the report at no charge, including data in spreadsheet format.

Subscribers can access the report and data here.

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

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