One might say it's nice to be reminded of what the P&C insurance industry's Top 100 looks like in a world with fewer catastrophes.
With no major catastrophes in 2013, insurers had a comparatively easier time of making hay while the sun shone—and the favorable movement reflected both in combined ratio and overall net premiums written is significant, marking a positive turn for many carriers and groups.
In NU's annual rankings, based on data from SNL Financial, the average combined ratio among the top 100 insurance groups fell year-over-year to a respectable 96.64—a 6.37 improvement over last year's numbers. Among the biggest gainers in the top 10 companies: Liberty Mutual Ins. Co., whose combined ratio fell more than 18 points to 102.20; State Farm Fire & Casualty Co., which improved more than 14 points to 90.57; and Chubb-owned Federal Insurance Co., which boasted a combined ratio of 82.70 after a 12.88-point improvement year-over-year.
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