Insurers — The World’s Largest

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

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