S&P Global Market Intelligence News

Where Homeowners Rates Are Rising—and Who Is Raising Them Most

According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by average rate change. The analysis published by S&P Global …

S&P Reveals Top 50 Largest P/C Insurers

As the third-fastest growing company on a list of the world’s top 50 largest insurers, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market Intelligence. State Farm recorded nearly $87.6 billion in …

State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P

State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis. The outlier result came even as …

Personal Auto Driving P/C Insurers to 2024 Underwriting Profit

S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to the analysis, private passenger auto insurance …

Allstate, Nationwide Post Dramatic Q12024 Homeowners Loss Ratio Drops: S&P

In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows. The S&P Global Market Intelligence analysis …

US E&S Growth Slower in 2023; Berkshire, AIG Top Premium Rankings

An analysis by S&P Global Market Intelligence reveals that the pace of growth in the U.S. excess and surplus lines market has slowed since a peak growth rate of 32.3% recorded in 2021. In 2023, growth remained robust—and up in …

US Home Insurers Post Net Combined Ratio Over 110: S&P

The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market Intelligence. The net combined ratio for the homeowners business, excluding policyholders’ dividends, was 110.5 in 2023, …

S&P: 2023 Marked Stall of Rapid Growth in US Cyber Insurance

S&P Global Market Intelligence weighed in on the U.S. cyber insurance marketplace, reporting that premium dipped in 2023 to end several years of rapid growth. The overall 0.7% decline in cyber insurance direct written premiums was driven by a 3.2% …

Overall US P/C Combined Ratio Improves in 2023 but Trouble Spots Remain: S&P

The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal business lines came in at 106.7%—about 3.2 points better than …

10 Largest Auto Insurers Each Raised Rates by Double Digits in 2023

According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its private-auto insurance peers in the U.S. did the same. All 10 of the …