Insurers — The World’s Largest
Published January 2, 2024 at 2:22 PM · News Releases and Bulletins
By the end of this year, worldwide, the property-casualty insurance market will hit $1.8 trillion. It hit $1.6 trillion in 2022. Those are statistics from market research aggregator, ReportLinker. The market is growing, and quite fast.
ReportLinker predicts a 7.6% a year increase through 2027.
S&P Global also issued some statistics toward the end of the year. It said 20 of the 50 largest, non-life P&C companies are located in the U.S. They account for 40% of the premiums written.
China has 12.4% of the market.
Here are the 10 largest firms in the world. Five of them are U.S. firms.
1. State Farm — Location: U.S.
Direct written premiums: $77.59 billion
2. PICC — Location: China
Gross premiums written: $73.09 billion
3. Berkshire Hathaway — Location: U.S.
Gross premiums written: $71.84 billion
4. Allianz SE — Location: Germany
Gross premiums written: $71.34 billion
5. Lloyd's of London — Location: U.K.
Gross premiums written: $57.69 billion
6. Liberty Mutual — Location: U.S.
Gross premiums written: $56.58 billion
7. AXA SA — Location: France
Gross premiums written: $53.67 billion
8. Progressive — Location: U.S.
Gross premiums written: $52.34 billion
9. Allstate — Location: U.S.
Gross premiums written: $50.31 billion
10. Ping An Insurance — Location: China
Gross premiums written: $44.37 billion
Here are the top 10 personal lines firms. They are ranking in three categories:
- Net premiums written
- Net admitted assets
- Policyholder surplus
The top three have net written premiums totaling $53 billion.
1. Progressive
Surplus as regards policyholders: $17,859,831,000
Net written premiums: $51,077,621,000
Net admitted assets: $70,718,807,000
2. American National
Surplus as regards policyholders: $1,622,217,000
Net written premiums: $1,771,191,000
Net admitted assets: $4,027,600,000
3. Arbella Insurance
Surplus as regards policyholders: $912,543,000
Net written premiums: $923,560,000
Net admitted assets: $2,228,242,000
4. CSAA Insurance Exchange
Surplus as regards policyholders: $3,984,611,000
Net written premiums: $4,836,821,000
Net admitted assets: $10,074,823,000
5. Berkshire Hathaway
Surplus as regards policyholders: $277,562,744,000
Net written premiums: $73,561,832,000
Net admitted assets: $510,480,190,000
6. Country Financial
Surplus as regards policyholders: $3,401,194,000
Net written premiums: $2,715,632,000
Net admitted assets: $6,830,897,000
7. NJM Insurance
Surplus as regards policyholders: $3,778,740,000
Net written premiums: $2,061,156,000
Net admitted assets: $8,596,512,000
8. Liberty Mutual
Surplus as regards policyholders: $26,680,371,000
Net written premiums: $38,684,018,000
Net admitted assets: $118,525,195,000
9. Farmers
Surplus as regards policyholders: $6,165,869,000
Net written premiums: $17,061,347,000
Net admitted assets: $41,659,716,000
10. Michigan Farm Bureau
Surplus as regards policyholders: $789,389,000
Net written premiums: $828,534,000
Net admitted assets: $1,790,746,000
Source link: PropertyCasualty360.com — https://bit.ly/4aEcRR5
Source link: Digital Insurance — https://bit.ly/3vejc5m