US Fire and Allied DPW to grow 16.9% in 2023

BEST RANKING

Best News & Research Service – September 13, 2024 10:28 AM (EDT)

OLDWICK, NJ //BestWire// – The U.S. fire and allied lines business saw direct written premiums grow 16.9% to $87.78 billion in 2023, a year in which the top 25 insurers accounted for about 70% of the market, according to one study. the new Best’s Rankings report.

No. 1 Zurich Insurance US PC Group posted a 0.3% increase in DPW to $6.05 billion, while Chubb INA Group no. 2 saw a 5.6% increase in DPW, which totaled $5.68 billion.

FM Global Group moved up one spot to No. 3 in the rankings as DPW rose 19.2% to $4.89 billion. Fire and allied lines accounted for 70.5% of the company’s premiums in 2023, according to the report.

QBE North American Insurance Group ranked No. 4 with $4.73 billion in DPW and Berkshire Hathaway Insurance’s No. 5 Fire and Allied Lines DPW rose 52.4% to 4.33 billions of dollars. Sompo Holdings US Group dropped to No. 6 from No. 3 a year earlier, with DPW of $3.76 billion down 11.3%.

In the top 10 were the American International Group no. 7, $3.75 billion; No. 8 Travelers Group, $2.96 billion; and no. 9 Liberty Mutual Insurance Group, $2.58 billion, according to Best’s Rankings. No. 10 Starr International Group saw DPW grow 76.1% to $2.13 billion, according to the data.

Subscribers can access the report and data here.