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.
In group results, all boasted better combined ratios (at an average of 6.37 points of improvement among the top 100 and 5.59 among the top 10), but it was AIG—which some would argue had the biggest room for improvement among the most successful groups in the top 10—that saw the greatest improvement among the biggest players, shaving off 16.15 points to a more competitive 101.27.
The top 100 groups showed average growth in NPW of 4.3%, to a total of $422.4 billion; that average growth drops to 3.7% among the top 5 groups (State Farm, Berkshire Hathaway, Allstate, Liberty Mutual and Travelers, respectively), which still represent a sizable portion (roughly 37%) of the NPW among the top 100 insurance groups.
The top 10 groups were largely unchanged from 2012; USAA Insurance Group and Farmers Insurance Group of Companies switched spots at the bottom of the top 10, with USAA taking over No. 9 and Farmers dropping to No. 10. After the previously mentioned top 5 groups, AIG, Nationwide Mutual Group and Progressive Corp. filled in the 6-8 spots.
Click on the chart image below for a closer look.
NEXT: Check out our list of the Top 100 Companies ranked by net premiums written, here.
Note: The Top 100 groups are ranked based on net premiums written only for U.S.-based parent companies and their U.S.-domiciled subsidiaries. Premiums written by subsidiaries based outside the U.S. are not included in the net premiums written totals.
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