Ward Group Names 50 Top-Performing P&C Insurers

For the 21^st year, Ward Group has released its tally of the top performing companies in the U.S. property/casualty insurance industry. 

To compile the list, Ward analyzes the financial performance of more than 3,000 property-casualty insurance companies domiciled in the United States. The analysis includes safety and consistency tests that measure surplus and premiums as well as performance measurements that consider factors such as average return on average equity and revenue growth.

Ward Group President Jeff Rieder says the numbers indicate that property/casualty insurers have collectively demonstrated the ability to thrive despite slow economic growth.

“While various sectors within the industry have been affected differently, it is important for companies to continue to focus on the fundamentals of maintaining profitable operations and make wise decisions to meet customer needs,” Rieder says. “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.”

In addition to performing well with financial returns, Reider notes that insurers making up the Ward’s 50 achieved lower expense ratios than the industry as a whole. “The lower expense ratio is a good indicator these companies achieve better organizational efficiency relative to the industry,” he says. 

In an exclusive interview with INN TV, Rieder points to trends among the higher performers: the use of technology to transact business more quickly, i.e., underwrite using straight-through processing and to better manage expenses. “It’s also proven that getting the appropriate price for the product affects an insurer’s performance,” he told INN. 

Ward's 2011 50 P&C Insurers (listed alphabetically):

Acuity
Alaska National Insurance Company
Alleghany Group
Allstate Insurance Company
American Financial Group

American Modern Insurance Group
Amerisafe
Amica Mutual Insurance Group
The Andover Companies
Assurant Group

Balboa Insurance Company
Bear River Mutual Insurance Company
Brethren Mutual Insurance Company
Capital Insurance Group
Chubb Group

Cincinnati Insurance Group*
CSE Insurance Group
The Doctors Company
Erie Insurance Group
Federated Mutual Group

First Insurance Company of Hawaii, LTD
FM Global
Franklin Mutual Insurance Group
GEICO*
Goodville Mutual Casualty Company

GuideOne Insurance
HCC Insurance Holdings Group
IDS Property Casualty Insurance Company
Island Insurance Companies Group
Jewelers Mutual Insurance Company

Lancer Insurance Company
The Main Street America Group
Metropolitan Property and Casualty Insur. Co.
Nodak Mutual Insurance Company
North Star Mutual Insurance Company

Ohio Mutual Insurance Group
Pacific Specialty Insurance Company
Philadelphia Insurance Companies
Preferred Mutual Insurance Company
ProAssurance

Progressive Insurance Group
ProMutual Group
RLI Insurance Group*
Rural Mutual Insurance Company
Safety Insurance Group

Travelers Insurance Group
USAA Group*
Vermont Mutual Insurance Company
W.R. Berkley Corporation Group
Western National Insurance Group

*Insurers that earned a spot in the ranking for 21 consecutive years.