NU Online News Service, May 10, 2:25 p.m.EDT

Nineteen property and casualty insurers have cracked this year’sFortune 500 list, one less than the number of P&C companies onthe 2010 list.

Berkshire Hathaway was the highest-ranking company listed underthe P&C insurance industry in 2011. It ranked 7 overall on theFortune 500 list. According to the list, Berkshire Hathaway’s 2010revenue increased 21.1 percent over 2009 to $136.2 billion. Thecompany’s 2010 profits increased 61 percent to $13 billion.

Last year, Berkshire Hathaway ranked 11 overall on the list andwas first in the P&C insurance industry.

American International Group Inc. ranked second in the P&Cinsurance industry in 2011—the same as last year—and 17 on theFortune 500 list overall. The company’s 2010 revenue is listed at$104.4 billion, a 1.2 percent increase over 2009. Profits in 2010are listed at $7.8 billion.

Last year, AIG was 16 overall on the Fortune 500 list.

State Farm Insurance Cos. remained third among P&C insurersand ranked 37 overall, compared to 34 in 2010. State Farm is one oftwo mutual companies listed separately from stock P&Ccompanies.

The other mutual company is Auto-Owners Insurance, which fell to425 overall on the list from 418 a year ago. Other mutual insurers,such as Liberty Mutual Insurance Group, are listed with the stockcompanies because they report fiscal data according to GenerallyAccepted Accounting Principles.

The two remaining top five companies in the P&C insuranceindustry switched spots compared to last year’s list. LibertyMutual is now ranked fourth among P&C insurance companies and82 overall, and Allstate is ranked fifth among insurers and 89overall. Last year, Allstate ranked 68 overall and Liberty Mutualranked 71.

First American Corp., which ranked 15 among stock and mutualP&C insurers last year and 361 overall, did not appear on thisyear’s list. All other insurers on last year’s list cracked theFortune 500 this year, and no new P&C insurers were added.

Travelers took over the sixth spot among P&C insurers fromHartford Financial Services, which slipped to seventh. Travelerswas 106 overall, down from 98, and Hartford Financial Services was117, down from 97.

The remaining insurers, in order from 8 to 19, were Nationwide,United Services Automobile Association, Progressive, Loews, Chubb,Assurant, American Family Insurance Group, Fidelity NationalFinancial, Auto-Owners, Erie Insurance Group, W.R. Berkley andAmerican Financial Group.

The 2011 list is based off of 2010 numbers. The Fortune 500 listis compiled by Fortune magazine and ranks U.S. companies by grossrevenues.