NU's annual rankings, based on data from SNL Financial, offer an overall look at the P&C insurance industry's performance in 2014, with intel on net premiums written, percentage growth and combined ratios for both companies and groups.
When comparing net premiums written during the first quarter of 2015, the top 10 companies remained nearly the same as last year–but with a couple of shake ups. Lexington Insurance Co. dropped from No. 7 to No. 21, due in part to its one-time combination of AIG's non-admitted and admitted capital pools in 2014, which caused its NPW to soar 62.4% for the year previous.
New to the top 10 is Government Employees Insurance Co., which grabbed the last spot–up from No. 2625 in 2014–by writing more than $1.6 billion in the first quarter. This isn't the only Berkshire Hathaway company in the top 10: National Indemnity Co. wrote more than $4.7 billion in the year's first quarter, a drop of 66.5% compared to the year previous.
Click through the following pages for charts of Q1 Comparisons, Leaders & Laggards and Head of the Lines.
State Compensation Insurance Fund, ICW Group and Starr International Co. all return to the list of net premium growth leaders, with State Compensation following up 2013′s 23.5% net premium growth with 37.9% in 2014. Named a leader in the same catogory in 2013, Swiss Re tops the "Laggard" list, as net premium decreased 20.6%.
The average combined ratio among the top 100 insurance groups in 2014 increased ever so slightly to 97.09 (from 96.63 in 2013), while averaging 4.5% growth. Radian Group not only showed the best combined ratio for 2014 (55.40), but also posted the greatest improvement at 43.27%–drawfing the ratio improvement from any other group.
The Travelers Cos. remains as the No. 1 premium leader in Commercial Multiperil, Commercial Auto and Workers' Compensation lines. Also retaining their top spots are FM Global (Inland Marine), American International Group (Ocean Marine) and State Farm (Private Passenger Auto).
New to this year's data is analysis to the lines of Product Liability (Chubb Corp.), Fire (Amerian International Group) and Surety (Travelers Cos.).
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