BY SHAWN MOYNIHAN
National Underwriter’s Top 100 and Heads of the Lines lists, the data for which is supplied by S&P Global Market Intelligence, provides a look at the P&C industry’s leading performers in a world plagued by a record number of natural catastrophes.
In order to put the numbers presented here in the
appropriate context, it’s helpful to consider how much
combined ratio suffered between 2016 and 2017 in several
key lines. Combined ratio in Homeowners, alone, stood at
93 in 2016 and rose to 107 in 2017. Even worse, combined
ratio in Allied lines ballooned to 124 in 2017 from 90 a year
prior, according to Steven Weisbart, senior vice president
and chief economist for the Insurance Information Institute.
Commercial multi-peril rose from 101 to 108 (with the
majority of claims seen in property and business interruption), while Personal Auto moved downward from 106 to
102.5 (better, certainly, but still not below 100).
Commercial Auto, however, rose from 113.1 to 113.3,
which is to say it was bad to start with and then got even
Nearly every major line of business went south in terms
of dollars paid out versus dollars taken in, said Weisbart.
One of the only bright spots was Workers’ Compensation,
which went down from 95 to 92. “Workers’ Comp was
profitable in 2016 and even more profitable in 2017, which
kept things from getting even worse [overall],” he added.
Net premiums written reported in these pages are based
on National Association of Insurance Commissioners (NAIC)
statutory P&C statement filings filed by U.S. individual
insurance companies; in some isolated cases that may
include business written outside of the U.S., if reported on
those annual NAIC statements.
The rankings in individual lines (Commercial Auto, Inland
Marine, Fire, etc.) reflect net premiums written (in $000s),
with the exception of Directors and Officers and stand-alone
Cybersecurity — which are ranked by direct premiums
written due to the fact that NAIC statements do not disclose
net premiums written for those lines.