Best’s News & Research Service - October 07, 2022 10:25 AM (EDT)
Best’s Rankings: U.S. Property/Casualty Six-Month Net Premiums Written Rise 10.3%
OLDWICK, N.J. //BestWire// - The U.S. property/casualty industry’s six-month net premiums written rose 10.3% to $387.25 billion in the first half of 2022 as several insurers made big positional gains, according to a new Best’s Ranking report.
Six-month NPW for the top 100 U.S. P&C insurers rose 10.4% to $349.85 billion. The top 25 writers posted a 10.1% gain to $266.42 billion.
The top 10 writers all retained the same positions they had the previous year.
Top-ranked State Farm Group’s six-month NPW rose 9.6% to $37.34 billion. Second-ranked Berkshire Hathaway Insurance saw a 7.4% increase to $33.46 billion, and No. 3 Progressive Insurance Group’s NPW rose 9.3% to $25.60 billion.
Among big gainers for the first six months this year, W.R. Berkley Insurance Group rose to No. 18 from No. 32. XL America Cos. advanced to No. 27 from No. 40. Citizens Property Insurance Corp. advanced to No. 57 from No. 95 even as its NPW fell 2.9%.
The report measures six-month 2022 NPW and the percent change from the previous year’s six months for the top 100 writers in the U.S. P&C industry.
Subscribers to Best’s News and Research Service can download the report at no charge, including full data in spreadsheet format.
Subscribers can access the report and data here.
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(By David Pilla, news editor, BestWire: David.Pilla@ambest.com)