The Ward Group has named the top 50 property/casualty insurers, based on its evaluation of more than 3,000 companies domiciled in the United States.
Companies named to the list had surplus and premiums of at least $50 million for each of the five years analyzed; net income in at least four of the past five years; risk-based capital ratio of at least 100 percent for each of the five years; compound annual growth in premiums between 10 percent and +40 percent; and have passed safety and consistency test with performance over the five years analyzed. On average, the Ward’s 50 Property-Casualty Companies produced a 14.3 percent return on average equity from 2005 to 2009, compared to 9.2 percent for the P/C industry overall, the company said.
“Most companies now understand the current economic situation and its impact on their business. However, the scars from the last two years are still affecting business decisions,” explained Jeff Rieder, president of Ward Group. “It is important for companies to maintain a long-term vision throughout difficult business cycles. In selecting the Ward’s 50, we identify companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”
Companies named to the list had a lower five-year combined ratio of 91.4 percent compared with 98.7 percent for the P/C industry overall. The top 50 companies also grew policyholder surplus by 31.6 percent compared to 19.1 percent for the industry. Net premiums for companies that made it to the list grew 3.2 percent compared to the industry’s 3.1 percent decline.
Since 1991, the Ward Group has measured the strength and business sense of insurance providers throughout the United States. The 2010 Ward’s 50 are:
- Alleghany Group
- Allstate Insurance Co.
- American Modern Insurance Group
- Amica Mutual Insurance Group
- Andover Companies
- Assurant Group
- Auto-Owners Insurance Group
- Balboa Insurance Co.
- Bear River Mutual Insurance Co.
- Brotherhood Mutual Insurance Co.
- Capital Insurance Group
- Chubb Group
- Cincinnati Insurance Group
- CSE Insurance Group
- The Commerce Group Inc.
- The Doctors Co.
- Donegal Insurance Group
- Erie Insurance Group
- Federated Mutual Group
- Fireman’s Fund Insurance Group
- Goodville Mutual Casualty Co.
- Great American Insurance Companies
- HCC Insurance Holdings Group
- Island Insurance Companies Group
- Kentucky Employers’ Mutual Insurance
- Louisiana Workers’ Compensation Corp.
- Metropolitan Property and Casualty Insurance Co.
- North Star Mutual Insurance Co.
- Ohio Mutual Insurance Group
- Old Republic Insurance Group
- Philadelphia Insurance Companies
- Progressive Casualty Insurance Co.
- ProMutual Group
- RLI Insurance Group
- Rural Mutual Insurance Co.
- Safety Insurance Group
- Travelers Insurance Group
- USAA Group
- Vermont Mutual Insurance Co.
- Virginia Farm Bureau
- W.R. Berkeley Corp. Group
- Western National Insurance Group
Source: Ward’s Group
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