Best's Rankings: No. 2 Progressive Overtakes No. 3 Berkshire as Annual P/C Net Premiums Rise 11.7%
OLDWICK, N.J. //BestWire// - Progressive Insurance Group overtook Berkshire Hathaway Insurance to become the second-largest U.S. property/casualty writer as ranked by 2025 net premiums written, according to a new Best's Rankings report.
Overall U.S. property/casualty net premiums written increased 4.7% to $983.06 billion last year.
Progressive's NPW grew 11.7% to $83.15 billion, according to the ranking, while Berkshire Hathaway's NPW edged 0.8% higher to $80.97 billion.
Progressive was one of just six top-50 U.S. property/casualty writers to post double-digit NPW percentage increases. The others were No. 9 Farmers, No. 33 XL America Cos., No. 34 Sentry Insurance Group, No. 39 QBE North America Insurance Group and No. 47 NJM Insurance Group.
No. 1 State Farm Group's NPW growth was closer to the industry increase, rising 5.6% to $113.79 billion, the rankings said.
Some specialty insurers/reinsurers experienced outsized percentage growth, including No. 80 Axis U.S. Operations with $1.37 billion of NPW, previously No. 219. Its premiums shot up 448.6%.
The report on U.S. property/casualty writers includes annual net premiums written, the percentage change from the prior year and rank.
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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)