Berkshire Hathaway US Allied Lines DPW up 58.3% in 2023

BEST RANKING

Best News & Research Service – August 16, 2024 10:19 AM (EDT)

OLDWICK, NJ //BestWire// – Berkshire Hathaway Inc. grew direct written premiums 58.3% last year to $2.06 billion and climbed four spots to become the seventh-largest writer of U.S. allied lines (total), according to a new Best’s Rankings report .

Direct industry premiums written for lines increased 11.7% to $53.31 billion in 2023.

Citizens Property Insurance Corp., Florida’s insurer of last resort, grew DPW 97.3% from a year earlier to $1.74 billion, making it the ninth-largest writer. In 2022, it was number 15.

Zurich Insurance US Property/Casualty Group retained the top US allied lines position (total), despite a 3.8% decline in premiums to $4.68 billion. That narrowed the gap for No. 2 Chubb INA, where US allied lines (total) rose 4.1% to $4.64 billion.

Several carriers posted triple-digit increases in direct premiums written, including Canopius US Insurance Inc., Kinsale Insurance Co. and Core Specialty Insurance Group.

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Subscribers can access the report and data here.

AM Best data comes from Best’s Financial Suite, USA.

(By Renée Kiriluk-Hill, Senior Associate Editor, BestWire: [email protected])