Three specialty insurance organizations–Philadelphia Insurance, RLI Corp. and Penn America Group–ranked among a dozen property-casualty insurers that National Underwriter magazine identified as candidates for its "Profit Hall of Fame" in its Dec. 3, 2007 edition.
In conjunction with its third-annual publication of p-c insurance "Profit Leaders"–a ranking of the 50 insurers with the lowest six-year average combined ratios–NU sought out "Profit Champions" within the industry. The "Champions" were the 50 p-c insurers with the lowest average combined ratios over a longer period–the twelve years extending from 1995-2006.
While the "Profit Leaders" benefited from hard market conditions that existed during part of the latest six-year period from 2001 to 2006, the "Champions," whose 12-year average combined ratios were the 50 lowest among 184 p-c insurance organizations analyzed by NU, managed to achieved these profitable results over a period spanning hard and soft market conditions.
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