Best's Review - October 2022 Edition

< PreviousBest’s Rankings 38 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings Top 25 US Commercial Auto Writers – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) 2021 Rank 2020 RankCompany / GroupAMB# 2021 Direct Premiums Written % Change in Premiums Market Share (%)Adjusted Loss Ratios % of Company Premiums202120202019202120202019 11Progressive Ins Group000780$8,674,98048.816.112.712.865.762.263.117.9 22Travelers Group0186742,973,8064.05.56.26.255.264.770.99.6 33Liberty Mutual Ins Cos0000602,055,8755.43.84.24.664.364.686.45.0 44Old Republic Ins Group0007342,019,2457.23.74.13.666.573.773.939.2 55Nationwide Group0059871,683,2551.43.13.63.763.874.874.18.7 67Berkshire Hathaway Ins0008111,681,73718.73.13.13.556.766.669.03.3 76Zurich Ins US PC Group0185491,612,363-0.63.03.53.170.476.869.310.7 88Auto-Owners Ins Group0043541,433,05214.62.72.72.560.460.664.414.4 99Allstate Ins Group0000081,146,5227.32.12.32.882.959.672.02.8 1011W. R. Berkley Ins Group0182521,098,84930.52.01.81.650.952.259.513.3 1110Chubb INA Group0184981,032,84515.41.91.92.165.973.858.23.8 1213Hartford Ins Group000048911,57917.41.71.71.763.866.869.06.7 1312Amer Intl Group 018540902,8799.51.71.81.575.075.4105.16.1 1415Great Amer P & C Ins Group004835880,32215.61.61.71.763.155.260.811.6 1518State Farm Group000088834,35122.71.61.51.972.168.276.71.2 1614Cincinnati Ins Cos004294813,9406.61.51.71.652.254.159.213.6 1716Tokio Marine US PC Group018733806,8417.81.51.61.764.359.667.07.9 1826Farmers Ins Group000032806,10447.11.51.21.687.385.568.73.2 1919Selective Ins Group003926791,59116.81.51.51.366.261.066.321.6 2020Sentry Ins Group000086785,44819.61.51.41.264.763.866.826.0 2117Erie Ins Group004283726,3146.11.41.51.465.955.476.99.2 2224Markel Corp Group018468698,16622.21.31.21.173.577.067.49.4 2321Fairfax Financial (USA) Group003116689,8389.51.31.41.465.460.565.07.2 2423Acuity, A Mutual Ins Co000468680,83016.11.31.31.155.745.859.934.1 2522CNA Ins Cos018313634,8548.11.21.31.177.970.158.85.0 Top 25 Writers$36,375,58618.167.466.966.765.065.169.37.4 Total U.S. P/C Industry$53,974,93417.2100.0100.0100.064.164.169.66.8 Reﬂects Grand Total (includes Canada and U.S. Territories). Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022. Best’s Rankings Top 25 US Auto Liability Writers – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) 2021 Rank 2020 RankCompany / GroupAMB# 2021 Direct Premiums Written % Change in Premiums Market Share (%)Adjusted Loss Ratios % of Company Premiums202120202019202120202019 11Progressive Ins Group000780$29,670,68714.615.314.113.261.154.061.761.3 22State Farm Group00008824,392,4211.412.513.113.565.854.157.434.7 33Berkshire Hathaway Ins00081123,714,4059.912.211.812.169.166.077.046.0 44Allstate Ins Group00000816,241,4262.38.48.79.074.256.163.239.2 56Liberty Mutual Ins Cos0000609,308,8726.84.84.84.763.863.672.222.4 65USAA Group0040808,610,175-1.84.44.84.681.968.987.934.1 77Farmers Ins Group0000328,185,1613.94.24.34.562.058.763.532.7 88Travelers Group0186745,524,3376.32.82.82.858.260.765.617.9 99Nationwide Group0059874,428,023-2.62.32.52.662.566.162.322.8 1010Amer Family Ins Group0001243,463,4713.81.81.82.056.855.467.327.5 1111Kemper PC Companies0189083,104,1828.11.61.61.574.659.162.563.6 1212Auto-Owners Ins Group0043542,847,3114.01.51.51.560.662.367.028.7 1313Erie Ins Group0042832,200,522-1.51.11.21.265.457.875.028.0 1414Auto Club Enterprises Ins Group0185152,053,3642.91.11.11.174.764.874.644.0 1515Hartford Ins Group0000481,953,7907.61.01.01.159.859.266.414.4 1616Mercury Gen Group0045241,742,1822.60.90.91.060.550.262.745.0 1717CSAA Ins Group0184601,612,9933.00.80.90.952.952.563.238.5 1818Old Republic Ins Group0007341,547,89410.20.80.80.668.677.078.530.0 1919Sentry Ins Group0000861,534,0849.60.80.80.760.859.064.250.8 2022Chubb INA Group0184981,256,6449.50.70.60.765.269.060.34.6 2121Zurich Ins US PC Group0185491,240,241-0.90.60.70.672.583.568.48.3 2220Auto Club Group0003121,196,150-5.10.60.70.863.365.164.242.4 2323Hanover Ins Group Prop & Cas Cos004861956,8871.30.50.50.546.865.273.817.6 2426Amer Intl Group 018540907,16910.70.50.50.472.375.798.96.1 2524Cincinnati Ins Cos004294891,5642.80.50.50.550.153.960.214.8 Top 25 Writers$158,583,9555.881.581.881.966.059.566.732.1 Total U.S. P/C Industry$194,496,2686.1100.0100.0100.066.059.967.524.4 Reﬂects Grand Total (includes Canada and U.S. Territories). Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.39 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings Top 25 US Auto Physical Damage Writers – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) 2021 Rank 2020 RankCompany / GroupAMB# 2021 Direct Premiums Written % Change in Premiums Market Share (%)Adjusted Loss Ratios % of Company Premiums202120202019202120202019 11State Farm Group000088$18,107,6846.415.015.115.082.662.368.725.8 22Berkshire Hathaway Ins00081115,389,89012.912.712.112.482.362.366.129.8 33Progressive Ins Group00078014,857,21413.312.311.610.878.057.863.230.7 44Allstate Ins Group00000812,127,0246.410.010.110.359.347.453.929.3 55USAA Group0040807,128,5801.75.96.25.971.960.774.528.2 66Liberty Mutual Ins Cos0000606,004,3097.05.05.05.058.146.856.114.5 77Farmers Ins Group0000325,062,1254.04.24.34.663.651.659.820.2 88Nationwide Group0059872,820,969-2.52.32.62.764.253.359.014.5 99Travelers Group0186742,777,5848.72.32.32.259.644.560.59.0 1010Amer Family Ins Group0001242,308,6159.31.91.92.169.054.963.518.4 1112Auto-Owners Ins Group0043541,913,8506.01.61.61.564.157.265.419.3 1211Erie Ins Group0042831,910,4083.51.61.61.671.660.672.224.3 1313Auto Club Enterprises Ins Group0185151,671,2566.41.41.41.468.749.060.735.8 1414Kemper PC Companies0189081,450,14310.01.21.21.279.558.958.629.7 1515CSAA Ins Group0184601,346,0257.01.11.11.261.848.257.832.1 1616Mercury Gen Group0045241,130,6784.50.91.01.158.951.759.929.2 1717Hartford Ins Group000048822,485-0.30.70.70.856.646.156.16.1 1818Auto Club Group000312749,239-1.60.60.70.768.555.064.826.6 1920Hanover Ins Group Prop & Cas Cos004861677,2398.10.60.60.656.247.058.612.5 2025Markel Corp Group018468654,02832.00.50.40.443.941.640.18.8 2119MAPFRE North America Group018801652,772-2.80.50.60.756.944.356.528.7 2221COUNTRY Financial PC Group000302562,9514.10.50.50.561.156.564.620.2 2323Cincinnati Ins Cos004294536,0044.00.40.50.455.343.455.18.9 2422Chubb INA Group018498535,515-0.30.40.50.549.353.355.92.0 2526Shelter Ins Cos000598513,8725.30.40.40.472.562.466.826.7 Top 25 Writers$101,710,4597.684.083.783.871.755.863.221.6 Total U.S. P/C Industry$121,099,8187.2100.0100.0100.070.455.562.615.2 Reﬂects Grand Total (includes Canada and U.S. Territories). Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022. FIND MORE CORPORATE CHANGES IN AM Best’s Powerful, Flexible Online Platform for Best’s Credit Ratings • Financial Data • Credit Analysis 22.BLINK006C2 Our Insight, Your Advantage ™ Learn More: sales@ambest.com www.ambest.com • (908) 439-2200Best’s Rankings 40 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings Top 25 US Total Auto Writers – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) 2021 Rank 2020 RankCompany / GroupAMB# 2021 Direct Premiums Written % Change in Premiums Market Share (%)Adjusted Loss Ratios % of Company Premiums202120202019202120202019 12Progressive Ins Group000780$44,527,90114.214.113.212.366.855.262.292.1 21State Farm Group00008842,500,1053.513.513.914.172.957.561.960.4 33Berkshire Hathaway Ins00081139,104,29411.112.411.912.274.264.672.875.8 44Allstate Ins Group00000828,368,4504.09.09.29.567.952.559.468.5 55USAA Group00408015,738,755-0.25.05.35.177.465.382.062.3 66Liberty Mutual Ins Cos00006015,313,1816.84.94.84.861.657.065.936.9 77Farmers Ins Group00003213,247,2863.94.24.34.662.656.062.153.0 88Travelers Group0186748,301,9217.12.62.62.658.755.363.926.8 99Nationwide Group0059877,248,992-2.52.32.52.763.261.161.137.3 1010Amer Family Ins Group0001245,772,0865.91.81.82.061.655.265.845.9 1111Auto-Owners Ins Group0043544,761,1614.81.51.51.562.060.366.448.0 1212Kemper PC Companies0189084,554,3258.71.41.41.376.259.161.393.3 1313Erie Ins Group0042834,110,9300.71.31.41.368.359.173.852.2 1414Auto Club Enterprises Ins Group0185153,724,6204.41.21.21.272.057.968.679.9 1515CSAA Ins Group0184602,959,0184.80.91.01.056.950.660.870.6 1616Mercury Gen Group0045242,872,8603.30.90.91.059.950.861.674.3 1717Hartford Ins Group0000482,776,2765.20.90.90.958.855.163.320.5 1820Sentry Ins Group0000862,020,65710.20.60.60.660.857.961.366.9 1919Old Republic Ins Group0007342,019,2457.20.60.60.566.573.773.939.2 2018Auto Club Group0003121,945,389-3.80.60.70.865.361.364.569.0 2121Chubb INA Group0184981,792,1586.30.60.60.660.464.058.96.6 2223Hanover Ins Group Prop & Cas Cos0048611,634,1254.00.50.50.650.758.167.830.1 2322Zurich Ins US PC Group0185491,612,363-0.60.50.60.570.576.969.210.7 2424MAPFRE North America Group0188011,486,982-2.60.50.50.658.053.264.865.4 2529Markel Corp Group0184681,442,73327.10.50.40.363.659.853.219.4 Top 25 Writers$259,835,8136.482.382.582.668.358.165.353.7 Total U.S. P/C Industry$315,596,0866.5100.0100.0100.067.758.265.739.5 Reﬂects Grand Total (includes Canada and U.S. Territories). Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022. Best’s Rankings Top 25 US Private Passenger Auto Writers – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) 2021 Rank 2020 RankCompany / GroupAMB# 2021 Direct Premiums Written % Change in Premiums Market Share (%)Adjusted Loss Ratios % of Company Premiums202120202019202120202019 11State Farm Group000088$41,665,7543.115.916.216.272.957.261.759.3 22Berkshire Hathaway Ins00081137,422,55810.814.313.513.775.064.573.072.5 33Progressive Ins Group00078035,852,9218.113.713.312.267.054.062.174.1 44Allstate Ins Group00000827,221,9283.810.410.510.767.352.258.865.8 55USAA Group00408015,738,749-0.26.06.36.077.465.382.062.3 66Liberty Mutual Ins Cos00006013,257,3067.15.15.04.861.155.862.632.0 77Farmers Ins Group00003212,441,1822.04.84.95.161.154.561.849.7 88Nationwide Group0059875,565,737-3.72.12.32.563.057.357.728.6 99Amer Family Ins Group0001245,488,6776.22.12.12.361.253.964.943.6 1010Travelers Group0186745,328,1159.02.02.01.960.749.860.017.2 1111Kemper PC Companies0189084,084,4936.31.61.51.577.359.661.683.7 1212Auto Club Enterprises Ins Group0185153,724,6204.41.41.41.472.057.968.679.9 1313Erie Ins Group0042833,384,616-0.31.31.41.368.859.873.243.0 1414Auto-Owners Ins Group0043543,328,1081.01.31.31.362.760.167.133.5 1515CSAA Ins Group0184602,905,1194.11.11.11.256.650.460.869.3 1616Mercury Gen Group0045242,613,4202.91.01.01.158.849.461.167.6 1717Auto Club Group0003121,924,104-3.90.70.80.965.461.364.068.2 1818Hartford Ins Group0000481,864,6960.10.70.80.856.650.361.213.8 1919MAPFRE North America Group0188011,302,753-3.70.50.50.659.051.665.057.3 2021Hanover Ins Group Prop & Cas Cos0048611,264,3504.30.50.50.549.556.968.723.3 2123Sentry Ins Group0000861,235,2105.00.50.50.458.454.858.740.9 2222COUNTRY Financial PC Group0003021,209,5611.40.50.50.565.760.770.543.3 2320Amica Mutual Group0185221,173,901-6.20.50.50.562.353.166.651.7 2426NJM Ins Group0039851,070,3444.40.40.40.477.774.070.955.3 2524Southern Farm Bureau Casualty Group0042371,070,2941.00.40.40.479.964.069.467.1 Top 25 Writers$232,138,5164.988.788.588.468.857.265.053.1 Total U.S. P/C Industry$261,621,1534.6100.0100.0100.068.457.265.032.8 Reﬂects Grand Total (includes Canada and U.S. Territories). Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.41 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings US Total All Auto Lines – Top Writers by State, Canada and US Territories – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) State 2021 Rank 2020 Rank No of Cos Direct Premiums Written % of Grand Total Premium % ChangeALR 1 DDCCE 2 Market Share Leading Writer % Market ShareSecond Leader % Market Share Agency Writer 3 Direct Writer 4 AL2424601$4,688,3201.56.264.32.532.267.8State Farm Group 19.3Allstate Ins Group 12.8 AK4949365605,2450.24.458.91.522.277.8State Farm Group 24.8Berkshire Hathaway Ins 18.2 AZ13156696,890,7552.28.065.91.934.765.3Berkshire Hathaway Ins 15.2Progressive Ins Group 14.3 AR32325652,735,2880.95.263.81.432.167.9State Farm Group 19.2Progressive Ins Group 12.5 CA1161237,840,95912.07.367.83.336.363.7Berkshire Hathaway Ins 10.7State Farm Group 10.5 CO16166056,513,9252.15.358.92.232.068.0State Farm Group 15.7Progressive Ins Group 12.6 CT27285253,751,1641.27.068.83.342.257.8Berkshire Hathaway Ins 15.6Progressive Ins Group 12.4 DE41415001,151,3570.46.667.62.437.462.6State Farm Group 20.3Berkshire Hathaway Ins 15.7 DC5252424450,3410.16.071.01.827.672.4Berkshire Hathaway Ins 33.8State Farm Group 12.8 FL3362427,002,0868.610.975.25.243.756.3Progressive Ins Group 21.9Berkshire Hathaway Ins 21.4 GA5573212,701,0524.07.771.52.939.460.6State Farm Group 17.5Progressive Ins Group 16.3 HI4545306931,8640.35.155.01.729.570.5Berkshire Hathaway Ins 25.3State Farm Group 16.0 ID38395061,535,9110.510.359.51.534.565.5Progressive Ins Group 12.1State Farm Group 11.3 IL8871710,192,3143.27.065.02.639.660.4State Farm Group 22.4Progressive Ins Group 10.4 IN22226935,213,2971.76.364.62.447.252.8State Farm Group 16.4Progressive Ins Group 14.4 IA34345892,540,3110.86.262.61.960.040.0Progressive Ins Group 18.9State Farm Group 14.5 KS35355922,509,8260.85.862.11.540.060.0Progressive Ins Group 14.4State Farm Group 14.3 KY26265923,813,9341.23.666.62.033.666.4State Farm Group 18.8KY Farm Bureau Group 15.6 LA18185435,822,6391.83.876.63.736.463.6State Farm Group 24.1Progressive Ins Group 18.1 ME44444301,019,9330.36.559.41.148.751.3Progressive Ins Group 15.6State Farm Group 10.7 MD17176046,251,4552.04.164.51.737.862.2Berkshire Hathaway Ins 22.5State Farm Group 14.1 MA15144326,710,4632.15.157.01.664.435.6MAPFRE North America Group 18.4Berkshire Hathaway Ins 14.0 MI7758210,366,6193.3-1.269.21.250.449.7Progressive Ins Group 18.9State Farm Group 15.1 MN23235654,794,3031.54.861.21.946.753.3Progressive Ins Group 18.8State Farm Group 18.4 MS33335432,709,8240.98.466.32.135.664.4State Farm Group 18.7Progressive Ins Group 15.1 MO21216275,369,3811.76.565.31.934.665.4State Farm Group 17.3Progressive Ins Group 13.7 MT43434771,102,1450.38.056.91.640.559.5State Farm Group 16.8Progressive Ins Group 16.0 NE37375391,784,3970.66.260.01.550.649.4Progressive Ins Group 15.5State Farm Group 15.2 NV30305733,560,8261.19.069.33.935.464.7Progressive Ins Group 15.8Berkshire Hathaway Ins 15.6 NH42424551,106,9240.44.853.80.946.154.0Progressive Ins Group 14.0Berkshire Hathaway Ins 12.2 NJ9957810,098,2803.27.172.24.033.366.7Berkshire Hathaway Ins 19.7Progressive Ins Group 14.7 NM36365321,868,6880.64.561.32.237.063.0Progressive Ins Group 17.3State Farm Group 16.3 NY4459118,025,6845.77.173.75.036.163.9Berkshire Hathaway Ins 26.3Allstate Ins Group 13.0 NC11116048,453,7772.77.965.71.438.561.5Allstate Ins Group 15.7Berkshire Hathaway Ins 12.3 ND4848485697,9430.22.463.41.651.148.9Progressive Ins Group 18.7State Farm Group 9.3 OH10107268,486,6112.74.162.21.754.645.4Progressive Ins Group 17.8State Farm Group 13.9 OK29295803,579,1041.15.265.01.836.064.0State Farm Group 18.2Progressive Ins Group 14.6 OR28275783,713,2991.24.163.42.034.265.8Progressive Ins Group 16.1State Farm Group 16.0 PA6671011,346,2453.64.665.82.452.048.0State Farm Group 14.6Progressive Ins Group 13.9 RI40404471,155,2900.43.661.01.846.953.1Progressive Ins Group 26.3Berkshire Hathaway Ins 13.1 SC20206125,646,3061.88.668.51.936.963.1State Farm Group 20.2Progressive Ins Group 16.3 SD4647478821,0340.37.663.01.453.047.0Progressive Ins Group 15.3State Farm Group 14.1 TN19196805,779,8911.86.965.82.236.164.0State Farm Group 16.5TN Farmers Ins Cos 13.4 TX2274429,524,0669.47.674.93.542.857.2Progressive Ins Group 17.3Berkshire Hathaway Ins 12.0 UT31315722,909,9450.98.364.52.440.159.9State Farm Group 11.8Progressive Ins Group 10.9 VT5151422485,5950.23.952.10.856.443.6Progressive Ins Group 18.4Berkshire Hathaway Ins 13.1 VA12126507,081,4232.25.663.61.638.361.8Berkshire Hathaway Ins 17.8State Farm Group 12.5 WA14135876,847,9272.25.663.82.636.263.9Progressive Ins Group 13.9State Farm Group 12.7 WV39384971,488,8620.52.458.01.545.854.2State Farm Group 22.3Erie Ins Group 14.7 WI25256124,186,2931.35.262.11.756.143.9Progressive Ins Group 18.8Amer Family Ins Group 14.3 WY5050446579,7250.26.457.80.636.463.6Progressive Ins Group 17.2State Farm Group 16.8 Guam 55552658,3130.0-15.137.23.677.122.9Chung Kuo Ins Co Ltd GUB23.2USAA Group 22.9 Puerto Rico474667814,0700.34.244.90.666.034.0Universal Ins Group of Puerto Rico 37.0Coop de Seguros Multiples PR 33.5 U.S. Virgin Is.56563951,1430.05.538.42.985.714.3Underwriters at Lloyd's, London (VI)40.4Guardian Ins Group 37.6 Canada535339120,2660.016.5-31.5-10.669.630.4CNA Ins Cos 27.1Liberty Mutual Ins Cos 27.0 Other 545492104,8440.033.641.34.990.19.9New Horizon Ins Co 31.2Natl Unity Ins Co 30.5 N. Mariana Is.575784,6080.09.173.04.8100.00.0Tokio Marine US PC Group 36.9DB Ins US Group 22.9 Grand Total1,491$315,596,086100.06.567.72.841.059.1Progressive Ins Group 14.1State Farm Group 13.5 1. ALR: Adjusted loss ratio is direct losses incurred divided by the difference between direct premium earned and dividends paid to policyholder. 2. DDCCE: Direct defense and cost containment expense ratio is the former allocated loss adjustment expense (ALAE) ratio. 3. Insurers that distribute primarily through independent agents. 4. Insurers that distribute primarily through a direct-selling system or an exclusive agency system. Note: Data for some companies in this report has been received from the NAIC. Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.Best’s Rankings 42 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings US Auto Liability – Top Writers by State, Canada and US Territories – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) State 2021 Rank 2020 Rank No of Cos Direct Premiums Written % of Grand Total Premium % ChangeALR 1 DDCCE 2 Market Share Leading Writer % Market ShareSecond Leader % Market Share Agency Writer 3 Direct Writer 4 AL2323581$2,728,6021.46.160.24.036.963.1State Farm Group 17.5Progressive Ins Group 14.1 AK4747354355,0450.23.757.92.326.174.0State Farm Group 24.2Berkshire Hathaway Ins 17.9 AZ13136524,319,6242.27.262.32.837.962.1Progressive Ins Group 15.1Berkshire Hathaway Ins 15.0 AR33325501,514,9370.84.561.92.337.562.5State Farm Group 16.9Progressive Ins Group 14.0 CA1158822,651,77911.66.765.65.140.259.9State Farm Group 9.7Farmers Ins Group 9.6 CO17165833,874,2312.04.060.33.634.965.1State Farm Group 14.3Progressive Ins Group 13.4 CT28285152,445,4981.36.167.35.144.655.4Berkshire Hathaway Ins 15.3Progressive Ins Group 13.8 DE4040483802,4700.46.364.53.340.459.7State Farm Group 19.7Berkshire Hathaway Ins 15.3 DC5051416265,6490.16.265.93.032.167.9Berkshire Hathaway Ins 30.7Progressive Ins Group 12.2 FL2259619,829,87510.211.275.86.745.954.1Progressive Ins Group 22.4Berkshire Hathaway Ins 20.2 GA557108,571,5144.48.072.94.241.958.1Progressive Ins Group 17.5State Farm Group 16.5 HI4545298535,7790.34.150.22.633.966.1Berkshire Hathaway Ins 23.7State Farm Group 15.7 ID3839490869,2730.48.857.72.438.261.8Progressive Ins Group 13.5Liberty Mutual Ins Cos 10.7 IL996955,945,7663.16.362.24.244.955.1State Farm Group 19.9Progressive Ins Group 11.5 IN21216743,043,3941.65.559.03.850.649.4Progressive Ins Group 15.5State Farm Group 14.7 IA35355701,266,9180.75.259.43.563.636.4Progressive Ins Group 20.6State Farm Group 12.4 KS34345711,323,5850.75.762.62.644.755.3Progressive Ins Group 16.2State Farm Group 12.4 KY27265772,495,0131.32.862.42.936.064.0State Farm Group 17.6KY Farm Bureau Group 14.6 LA15155303,930,9102.03.667.15.240.459.6State Farm Group 22.1Progressive Ins Group 18.9 ME4444417545,9820.36.058.51.852.647.4Progressive Ins Group 17.5State Farm Group 10.0 MD18175873,847,6172.03.961.72.641.558.5Berkshire Hathaway Ins 21.3State Farm Group 13.5 MA16184183,875,2932.05.152.92.565.534.5MAPFRE North America Group 17.9Berkshire Hathaway Ins 14.5 MI875596,264,2553.2-5.466.81.850.249.8Progressive Ins Group 20.4State Farm Group 15.2 MN24245492,633,4791.43.157.53.249.350.8Progressive Ins Group 20.6State Farm Group 17.0 MS32335281,576,4680.88.963.53.440.759.3Progressive Ins Group 16.7State Farm Group 16.2 MO22225993,033,1351.65.965.63.238.861.2State Farm Group 15.5Progressive Ins Group 15.0 MT4343468557,4990.36.253.32.744.455.6Progressive Ins Group 17.8State Farm Group 15.2 NE3737527936,0030.54.961.32.753.446.6Progressive Ins Group 17.8State Farm Group 13.4 NV25275582,614,2621.39.268.95.237.862.2Progressive Ins Group 16.4Berkshire Hathaway Ins 15.0 NH4242441585,9820.34.648.31.549.650.4Progressive Ins Group 15.2Berkshire Hathaway Ins 12.3 NJ665657,084,5273.66.764.35.536.563.5Berkshire Hathaway Ins 18.6Progressive Ins Group 15.7 NM36365201,171,2320.64.057.73.240.259.9Progressive Ins Group 17.9State Farm Group 15.1 NY4457612,087,3856.26.772.87.338.461.6Berkshire Hathaway Ins 24.7Allstate Ins Group 13.0 NC11115824,593,1782.46.968.72.441.059.0Allstate Ins Group 15.6State Farm Group 11.6 ND4849469321,8500.22.451.82.957.442.6Progressive Ins Group 21.7State Farm Group 8.1 OH10107064,837,5452.53.457.02.657.742.4Progressive Ins Group 19.3State Farm Group 12.4 OK30305672,002,6061.04.460.12.940.559.5State Farm Group 15.5Progressive Ins Group 15.3 OR26255612,497,0161.32.859.02.835.964.1Progressive Ins Group 17.1State Farm Group 15.0 PA786926,404,3103.34.060.13.954.145.9Progressive Ins Group 15.3State Farm Group 13.0 RI4141435758,8790.43.158.72.650.549.5Progressive Ins Group 29.4Berkshire Hathaway Ins 12.1 SC19195953,670,3501.98.869.62.740.060.0State Farm Group 19.5Progressive Ins Group 17.9 SD4646465364,5990.26.360.72.956.943.2Progressive Ins Group 16.7State Farm Group 12.7 TN20206623,253,7261.76.560.03.440.159.9State Farm Group 14.9Progressive Ins Group 13.7 TX3373117,601,2489.08.376.55.648.651.4Progressive Ins Group 18.0Berkshire Hathaway Ins 11.7 UT31315511,854,6591.07.365.13.641.758.3Progressive Ins Group 11.9State Farm Group 11.3 VT5252411236,8820.13.247.61.461.039.0Progressive Ins Group 20.8Berkshire Hathaway Ins 11.4 VA14146294,124,4792.15.460.72.642.257.8Berkshire Hathaway Ins 16.7Progressive Ins Group 13.9 WA12125664,478,3512.34.661.63.737.862.2Progressive Ins Group 14.5State Farm Group 12.2 WV3938484817,9340.41.650.72.649.250.8State Farm Group 20.4Erie Ins Group 13.7 WI29295882,303,1521.23.755.22.958.341.7Progressive Ins Group 20.2Amer Family Ins Group 13.8 WY5150434264,8760.14.860.30.844.056.0Progressive Ins Group 19.5State Farm Group 14.5 Guam 56562624,2730.042.538.13.988.811.2Amer Intl Group 42.9DB Ins US Group 12.9 Puerto Rico494862284,9470.1-11.146.71.071.328.7Universal Ins Group of Puerto Rico 31.8Coop de Seguros Multiples PR 27.9 U.S. Virgin Is.55553833,6080.02.234.23.995.05.0Underwriters at Lloyd's, London (VI)49.9Guardian Ins Group 36.9 Canada54533688,7370.014.6-55.6-13.668.331.7Liberty Mutual Ins Cos 27.9CNA Ins Cos 24.3 Other 53548994,2640.038.342.35.897.42.6Natl Unity Ins Co 33.9New Horizon Ins Co 32.7 N. Mariana Is.575781,8230.03.3127.29.4100.00.0Tokio Marine US PC Group 39.0DB Ins US Group 29.3 Grand Total1,470$194,496,268100.06.166.14.444.056.0Progressive Ins Group 15.3State Farm Group 12.5 1. ALR: Adjusted loss ratio is direct losses incurred divided by the difference between direct premium earned and dividends paid to policyholder. 2. DDCCE: Direct defense and cost containment expense ratio is the former allocated loss adjustment expense (ALAE) ratio. 3. Insurers that distribute primarily through independent agents. 4. Insurers that distribute primarily through a direct-selling system or an exclusive agency system. Note: Data for some companies in this report has been received from the NAIC. Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.43 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings US Auto Physical Damage – Top Writers by State, Canada and US Territories – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) State 2021 Rank 2020 Rank No of Cos Direct Premiums Written % of Grand Total Premium % ChangeALR1DDCCE2 Market Share Leading Writer % Market ShareSecond Leader % Market Share Agency Writer3 Direct Writer4 AL2322493$1,959,7181.66.469.90.325.674.4State Farm Group 21.8Allstate Ins Group 14.2 AK5051269250,2000.25.360.30.216.883.2State Farm Group 25.7Berkshire Hathaway Ins 18.7 AZ15165592,571,1312.19.372.00.429.470.6Berkshire Hathaway Ins 15.5State Farm Group 14.7 AR30304651,220,3511.06.166.20.225.474.6State Farm Group 22.0Southern Farm Bureau Casualty Group 12.5 CA1150715,189,17912.58.271.10.630.769.3Berkshire Hathaway Ins 12.7State Farm Group 11.6 CO14144982,639,6942.27.256.90.227.772.3State Farm Group 17.7USAA Group 12.0 CT28284311,305,6661.18.671.5-0.137.862.2Berkshire Hathaway Ins 16.4Allstate Ins Group 11.0 DE4848389348,8870.37.274.90.230.569.5State Farm Group 21.5Berkshire Hathaway Ins 16.7 DC5252314184,6920.25.678.10.221.178.9Berkshire Hathaway Ins 38.3State Farm Group 14.0 FL335187,172,2115.99.973.81.137.762.3Berkshire Hathaway Ins 24.9Progressive Ins Group 20.3 GA786244,129,5383.47.168.40.334.165.9State Farm Group 19.7Progressive Ins Group 13.6 HI4646214396,0850.36.661.50.523.576.5Berkshire Hathaway Ins 27.4State Farm Group 16.3 ID3939411666,6370.612.261.90.229.870.3State Farm Group 12.4Liberty Mutual Ins Cos 11.2 IL666104,246,5483.57.968.90.332.267.8State Farm Group 25.9Allstate Ins Group 11.9 IN20215712,169,9031.87.572.50.442.657.4State Farm Group 18.8Progressive Ins Group 12.7 IA29294811,273,3931.17.365.80.256.543.5Progressive Ins Group 17.1State Farm Group 16.6 KS32324771,186,2421.05.961.40.234.765.3State Farm Group 16.5Progressive Ins Group 12.5 KY27274791,318,9211.15.374.40.329.170.9State Farm Group 21.1KY Farm Bureau Group 17.5 LA24244191,891,7301.64.396.50.527.972.1State Farm Group 28.2Progressive Ins Group 16.7 ME4343355473,9500.47.260.50.344.155.9Progressive Ins Group 13.3State Farm Group 11.5 MD17174992,403,8382.04.568.90.231.868.2Berkshire Hathaway Ins 24.4State Farm Group 14.9 MA13133362,835,1702.35.162.50.462.837.2MAPFRE North America Group 19.1Berkshire Hathaway Ins 13.2 MI874614,102,3643.46.072.80.350.649.4Progressive Ins Group 16.6State Farm Group 14.9 MN21204732,160,8241.86.965.70.343.656.4State Farm Group 20.2Progressive Ins Group 16.7 MS33334391,133,3560.97.870.20.328.471.6State Farm Group 22.2Progressive Ins Group 12.9 MO19195272,336,2461.97.465.10.329.071.0State Farm Group 19.8Progressive Ins Group 12.0 MT4041378544,6460.49.860.60.436.563.5State Farm Group 18.5Progressive Ins Group 14.1 NE3636423848,3940.77.758.50.247.552.5State Farm Group 17.2Progressive Ins Group 13.0 NV3535460946,5640.88.670.30.428.571.5Berkshire Hathaway Ins 17.3State Farm Group 15.3 NH4240375520,9420.45.060.10.342.157.9Progressive Ins Group 12.7Berkshire Hathaway Ins 12.1 NJ11124563,013,7522.58.291.00.625.874.2Berkshire Hathaway Ins 22.3Progressive Ins Group 12.3 NM3737432697,4560.65.367.60.431.668.4State Farm Group 18.2Progressive Ins Group 16.1 NY444825,938,2994.97.875.40.331.468.6Berkshire Hathaway Ins 29.6Allstate Ins Group 13.2 NC994793,860,5993.29.062.20.235.664.5Allstate Ins Group 15.9Berkshire Hathaway Ins 13.6 ND4747399376,0930.32.473.30.545.854.2Progressive Ins Group 16.2State Farm Group 10.2 OH10106013,649,0663.04.969.10.450.649.4State Farm Group 15.9Progressive Ins Group 15.7 OK26264621,576,4981.36.471.20.330.169.9State Farm Group 21.6Progressive Ins Group 13.9 OR31314611,216,2841.06.972.60.330.869.3State Farm Group 18.0Progressive Ins Group 14.1 PA556014,941,9354.15.473.30.349.350.7State Farm Group 16.7Erie Ins Group 14.6 RI4545362396,4110.34.665.30.440.159.9Progressive Ins Group 20.5Berkshire Hathaway Ins 14.9 SC22235081,975,9561.68.166.50.331.268.8State Farm Group 21.5Berkshire Hathaway Ins 13.6 SD4444371456,4350.48.764.80.249.850.2State Farm Group 15.3Progressive Ins Group 14.3 TN16155602,526,1662.17.373.30.530.969.1State Farm Group 18.6TN Farmers Ins Cos 15.7 TX2259411,922,8189.86.672.60.434.365.8Progressive Ins Group 16.2State Farm Group 13.0 UT34344671,055,2860.910.163.60.337.262.8State Farm Group 12.7Allstate Ins Group 11.8 VT5150332248,7130.24.656.40.352.048.1Progressive Ins Group 16.0Berkshire Hathaway Ins 14.7 VA12115522,956,9452.45.967.60.232.867.3Berkshire Hathaway Ins 19.3State Farm Group 13.5 WA18184922,369,5762.07.668.00.433.067.0State Farm Group 13.7Progressive Ins Group 13.0 WV3838388670,9290.63.467.00.241.658.4State Farm Group 24.5Erie Ins Group 16.0 WI25255191,883,1401.67.270.70.353.346.7Progressive Ins Group 17.2Amer Family Ins Group 14.9 WY4949363314,8490.37.855.70.430.169.9State Farm Group 18.8Progressive Ins Group 15.3 Guam 53532234,0400.0-34.136.63.368.731.3USAA Group 31.3Tokio Marine US PC Group 11.0 Puerto Rico414254529,1220.414.743.80.463.236.8Universal Ins Group of Puerto Rico 39.8Coop de Seguros Multiples PR 36.6 U.S. Virgin Is.55552517,5350.012.547.40.968.032.0Guardian Ins Group 38.7USAA Group 31.9 Canada54542031,5290.022.438.0-2.073.226.8CNA Ins Cos 35.2Liberty Mutual Ins Cos 24.5 Other 56565710,5800.02.433.2-2.325.774.4USAA Group 74.2New Horizon Ins Co 17.3 N. Mariana Is.575762,7860.013.335.91.7100.00.0Tokio Marine US PC Group 35.6DB Ins US Group 18.7 Grand Total1,349$121,099,818100.07.270.40.436.163.9State Farm Group 15.0Berkshire Hathaway Ins 12.7 1. ALR: Adjusted loss ratio is direct losses incurred divided by the difference between direct premium earned and dividends paid to policyholder. 2. DDCCE: Direct defense and cost containment expense ratio is the former allocated loss adjustment expense (ALAE) ratio. 3. Insurers that distribute primarily through independent agents. 4. Insurers that distribute primarily through a direct-selling system or an exclusive agency system. Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.Best’s Rankings 44 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings US Private Passenger Auto – Top Writers by State, Canada and US Territories – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) State 2021 Rank 2020 Rank No of Cos Direct Premiums Written % of Grand Total % Change in PremiumsALR 1 DDCCE 2 Market Share Leading Writer % Market ShareSecond Leader % Market Share Agency Writer 3 Direct Writer 4 AL2424254$3,912,0501.54.965.01.921.778.3State Farm Group 22.7Allstate Ins Group 14.9 AK4849144519,0930.23.062.11.813.686.4State Farm Group 28.4Berkshire Hathaway Ins 20.2 AZ13143415,957,6632.36.566.51.527.772.3Berkshire Hathaway Ins 17.1State Farm Group 14.8 AR32322402,244,6640.94.565.30.921.378.7State Farm Group 23.1Southern Farm Bureau Casualty Group 11.9 CA1131231,715,39812.14.667.42.527.472.6State Farm Group 12.1Berkshire Hathaway Ins 11.9 CO16162895,604,8822.14.259.41.924.175.9State Farm Group 18.0Progressive Ins Group 11.7 CT27282523,192,8281.25.770.43.035.864.2Berkshire Hathaway Ins 17.8Progressive Ins Group 12.3 DE4141218965,8990.44.269.02.527.672.5State Farm Group 23.9Berkshire Hathaway Ins 18.1 DC5252184387,1910.12.273.41.820.679.5Berkshire Hathaway Ins 38.7State Farm Group 14.7 FL3331822,594,6848.68.874.94.835.564.5Berkshire Hathaway Ins 24.7Progressive Ins Group 21.5 GA5536910,543,7204.04.671.52.430.869.3State Farm Group 20.8Progressive Ins Group 15.5 HI4545135806,1480.34.257.01.620.179.9Berkshire Hathaway Ins 29.0State Farm Group 18.2 ID39392251,256,3800.59.459.91.224.975.1State Farm Group 13.7Liberty Mutual Ins Cos 12.0 IL993697,877,3623.03.367.12.026.074.0State Farm Group 28.7Allstate Ins Group 11.6 IN22223424,154,9641.63.766.01.837.162.9State Farm Group 20.4Progressive Ins Group 14.6 IA35352831,973,5060.84.663.51.251.448.6Progressive Ins Group 21.4State Farm Group 18.5 KS34342892,057,8290.84.963.71.230.669.4State Farm Group 17.2Progressive Ins Group 14.7 KY26262733,240,9621.22.268.11.725.075.0State Farm Group 21.9KY Farm Bureau Group 17.7 LA19182414,832,9571.81.876.12.627.372.7State Farm Group 28.1Progressive Ins Group 18.9 ME4444200829,4640.36.061.70.840.259.8Progressive Ins Group 16.7State Farm Group 13.0 MD17172705,352,9632.01.966.21.429.570.5Berkshire Hathaway Ins 25.9State Farm Group 16.2 MA15151835,610,0882.13.559.51.459.640.4MAPFRE North America Group 19.3Berkshire Hathaway Ins 16.6 MI762779,116,8913.5-2.070.80.645.754.3Progressive Ins Group 20.4State Farm Group 17.1 MN23232813,992,4761.53.562.31.638.561.5State Farm Group 21.9Progressive Ins Group 20.8 MS33332242,173,8640.86.868.11.323.776.3State Farm Group 23.0Progressive Ins Group 14.5 MO21212834,434,9981.75.166.51.525.174.9State Farm Group 20.7Progressive Ins Group 13.9 MT4343200875,3730.37.559.51.230.269.8State Farm Group 20.8Progressive Ins Group 16.8 NE37372521,407,4050.55.261.91.140.759.4State Farm Group 18.9Progressive Ins Group 16.9 NV29302602,971,1541.15.768.33.527.772.3Berkshire Hathaway Ins 18.0Progressive Ins Group 15.1 NH4242206926,2500.44.157.40.838.861.3Progressive Ins Group 15.2Berkshire Hathaway Ins 14.2 NJ882818,076,8773.14.572.53.421.678.4Berkshire Hathaway Ins 24.2Progressive Ins Group 13.6 NM36362401,577,4150.63.162.01.728.771.3State Farm Group 19.1Progressive Ins Group 17.2 NY4433114,937,6545.76.674.74.226.873.2Berkshire Hathaway Ins 30.9Allstate Ins Group 15.2 NC10112797,087,5962.75.566.80.730.669.4Allstate Ins Group 17.2Berkshire Hathaway Ins 14.2 ND4948218516,6840.21.868.81.438.861.2Progressive Ins Group 21.3State Farm Group 12.2 OH11103866,956,0202.71.464.21.246.553.5Progressive Ins Group 17.5State Farm Group 16.8 OK30292652,927,6031.14.067.71.426.473.6State Farm Group 21.8Progressive Ins Group 14.5 OR28272733,150,8271.23.265.61.727.772.3State Farm Group 18.6Progressive Ins Group 16.4 PA673839,267,9543.52.468.01.843.756.3State Farm Group 17.7Erie Ins Group 13.0 RI40402181,006,6320.42.662.31.742.058.0Progressive Ins Group 28.0Berkshire Hathaway Ins 14.5 SC18192684,921,4431.97.068.41.530.169.9State Farm Group 22.9Progressive Ins Group 16.1 SD4646223642,4570.27.164.61.144.255.8State Farm Group 17.6Progressive Ins Group 17.4 TN20203234,779,2101.85.767.81.725.574.5State Farm Group 19.6TN Farmers Ins Cos 15.9 TX2237323,635,8879.04.773.82.232.967.1Progressive Ins Group 16.1State Farm Group 14.2 UT31312622,449,4990.97.265.41.932.167.9State Farm Group 13.9Allstate Ins Group 11.9 VT5151191396,8970.23.255.40.650.449.6Progressive Ins Group 19.5Berkshire Hathaway Ins 15.3 VA12123326,047,1252.34.164.51.330.469.7Berkshire Hathaway Ins 20.4State Farm Group 14.5 WA14132915,831,7342.24.264.72.329.770.3State Farm Group 14.8Progressive Ins Group 13.5 WV38382231,287,1980.52.260.51.339.460.6State Farm Group 25.5Erie Ins Group 15.1 WI25253023,386,4571.33.964.61.548.052.0Progressive Ins Group 21.4Amer Family Ins Group 17.4 WY5050197458,4980.25.359.20.223.976.1State Farm Group 20.9Progressive Ins Group 16.8 Guam 53531648,3870.0-17.238.63.472.427.6Amer Intl Group 27.6USAA Group 27.6 Puerto Rico474725623,2730.214.748.60.460.239.8Universal Ins Group of Puerto Rico 41.0Coop de Seguros Multiples PR 39.5 U.S. Virgin Is.54541745,1000.05.340.83.183.916.1Underwriters at Lloyd's, London (VI)45.8Guardian Ins Group 35.0 Canada5757121020.07.4-99.9-99.9100.00.0Hartford Ins Group 100.1Liberty Mutual Ins Cos 0.0 Other 55554229,8460.08.346.00.865.134.9USAA Group 34.9Natl Unity Ins Co 30.0 N. Mariana Is.565673,6710.05.979.14.3100.00.0Tokio Marine US PC Group 34.0First Net Ins Co 19.9 Grand Total1,073$261,621,153100.04.668.42.332.267.8State Farm Group 15.9Berkshire Hathaway Ins 14.3 1. ALR: Adjusted loss ratio is direct losses incurred divided by the difference between direct premium earned and dividends paid to policyholder. 2. DDCCE: Direct defense and cost containment expense ratio is the former allocated loss adjustment expense (ALAE) ratio. 3. Insurers that distribute primarily through independent agents. 4. Insurers that distribute primarily through a direct-selling system or an exclusive agency system. Note: Data for some companies in this report has been received from the NAIC. Ratios of 999.9 and -99.9 are maximum and minimum values, respectively. Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.45 BEST’S REVIEW • OCTOBER 2022 Best’s Rankings US Commercial Auto – Top Writers by State, Canada and US Territories – 2022 Edition Ranked by 2021 direct premiums written. ($ Thousands) State 2021 Rank 2020 Rank No of Cos Direct Premiums Written % of Grand Total Premium % ChangeALR1 DDCCE 2 Market Share Leading Writer % Market ShareSecond Leader % Market Share Agency Writer 3 Direct Writer 4 AL2424479$776,2701.413.560.85.385.015.0Progressive Ins Group 18.2Auto-Owners Ins Group 8.8 AK525228086,1510.213.338.6-0.474.026.0CopperPoint Ins Group 14.1Western Natl Ins Group 13.5 AZ1920488933,0921.718.662.14.379.420.6Progressive Ins Group 13.0Travelers Group 6.0 AR3333448490,6230.98.756.93.581.718.3Progressive Ins Group 17.3Travelers Group 6.0 CA114906,125,56111.323.669.77.682.617.4Progressive Ins Group 14.1Travelers Group 6.4 CO2019468909,0431.712.256.14.180.619.4Progressive Ins Group 18.2Travelers Group 6.5 CT3130405558,3361.014.659.35.278.921.1Progressive Ins Group 12.8Liberty Mutual Ins Cos 8.0 DE4346397185,4580.320.860.41.988.511.5Great Amer P & C Ins Group 15.5Progressive Ins Group 12.5 DC545434163,1500.136.954.61.871.029.1Progressive Ins Group 16.8Farmers Ins Group 16.8 FL334944,407,4028.222.977.17.586.014.1Progressive Ins Group 23.9Auto-Owners Ins Group 8.6 GA675572,157,3324.025.871.45.581.618.4Progressive Ins Group 20.0Auto-Owners Ins Group 5.3 HI4848245125,7160.211.541.62.589.910.2Tokio Marine US PC Group 22.1Island Ins Group 13.4 ID3838384279,5310.514.458.02.777.822.2Progressive Ins Group 13.6Old Republic Ins Group 9.0 IL555482,314,9524.321.657.64.886.213.9Progressive Ins Group 14.4Travelers Group 5.8 IN13135261,058,3332.018.258.74.887.013.0Progressive Ins Group 13.5Auto-Owners Ins Group 5.0 IA2929460566,8051.112.259.34.590.29.8Progressive Ins Group 10.0Old Republic Ins Group 8.5 KS3534455451,9970.810.354.62.782.817.3Progressive Ins Group 12.9Nationwide Group 8.0 KY2828466572,9731.112.257.54.082.317.7Progressive Ins Group 10.2Travelers Group 6.9 LA1717422989,6821.815.379.29.580.719.3Progressive Ins Group 14.5Skyward Specialty Ins Group 8.2 ME4242336190,4690.48.849.22.185.414.6W. R. Berkley Ins Group 16.8Progressive Ins Group 10.8 MD2121475898,4921.720.253.63.686.913.1Progressive Ins Group 17.4Erie Ins Group 11.1 MA12123701,100,3742.013.943.92.788.811.2MAPFRE North America Group 13.5Safety Group 11.2 MI11104761,249,7272.34.856.76.184.016.0Auto-Owners Ins Group 8.0Progressive Ins Group 7.8 MN2222457801,8271.511.855.33.487.512.5Old Republic Ins Group 11.0Progressive Ins Group 8.9 MS3231433535,9601.015.658.95.483.716.3Progressive Ins Group 17.6Travelers Group 7.5 MO1818477934,3821.714.159.63.979.520.5Progressive Ins Group 12.8Travelers Group 7.9 MT3940374226,7720.49.846.62.980.319.7Progressive Ins Group 13.0Old Republic Ins Group 9.5 NE3636421376,9920.710.252.53.187.712.3Old Republic Ins Group 16.0Progressive Ins Group 10.3 NV2732438589,6721.130.174.66.573.826.2Progressive Ins Group 19.1Farmers Ins Group 11.7 NH4544364180,6730.38.535.11.583.516.5W. R. Berkley Ins Group 17.3Progressive Ins Group 8.2 NJ884722,021,4033.719.170.86.880.119.9Progressive Ins Group 19.0Selective Ins Group 6.4 NM3737411291,2740.512.857.44.881.718.3Progressive Ins Group 17.4Travelers Group 8.4 NY444473,088,0305.79.368.28.881.318.8Progressive Ins Group 11.8Amer Transit Ins Co 8.2 NC10114951,366,1812.522.059.95.279.720.3Progressive Ins Group 15.8Allstate Ins Group 8.2 ND4443384181,2590.34.247.82.286.313.7Progressive Ins Group 11.4Old Republic Ins Group 9.9 OH995431,530,5912.818.052.54.091.38.8Progressive Ins Group 18.9Cincinnati Ins Cos 7.4 OK2626436651,5011.210.952.23.779.021.0Progressive Ins Group 15.3Travelers Group 9.2 OR3027430562,4721.09.651.03.470.929.1Progressive Ins Group 14.8Liberty Mutual Ins Cos 11.7 PA765532,078,2913.915.655.85.189.110.9Progressive Ins Group 19.2Erie Ins Group 9.3 RI4747347148,6580.311.251.32.880.419.6Progressive Ins Group 15.4Selective Ins Group 7.0 SC2525480724,8631.320.869.54.883.316.7Progressive Ins Group 17.4Auto-Owners Ins Group 6.2 SD4645374178,5770.39.756.92.684.515.5Old Republic Ins Group 13.7Acuity, A Mutual Ins Co 8.7 TN16165361,000,6821.913.155.74.586.413.7Progressive Ins Group 12.7Travelers Group 6.5 TX225805,888,17910.920.979.79.182.617.4Progressive Ins Group 22.3Berkshire Hathaway Ins 4.9 UT3435427460,4450.914.459.85.482.417.6Progressive Ins Group 13.2Auto-Owners Ins Group 9.5 VT515134088,6970.27.337.21.683.017.0Progressive Ins Group 13.1W. R. Berkley Ins Group 12.4 VA14145021,034,2991.915.858.23.384.415.6Progressive Ins Group 16.6Erie Ins Group 8.3 WA15154551,016,1931.914.658.24.473.226.8Progressive Ins Group 16.3Liberty Mutual Ins Cos 11.2 WV4041391201,6640.43.841.42.886.413.6Progressive Ins Group 13.0Erie Ins Group 12.6 WI2323476799,8351.511.651.23.090.39.7Acuity, A Mutual Ins Co 8.9Progressive Ins Group 8.0 WY4949353121,2270.210.652.22.083.916.2Progressive Ins Group 18.7Travelers Group 10.3 Guam 5555239,9260.0-2.530.14.1100.00.0DB Ins US Group 22.9Paciﬁc Indemnity Ins Co 20.2 Puerto Rico413960190,7970.4-19.932.71.384.915.1Universal Ins Group of Puerto Rico 23.9MAPFRE North America Group 18.7 U.S. Virgin Is.5656326,0430.07.220.31.499.50.6Guardian Ins Group 56.5Topa Ins Group 28.4 Canada505033120,1640.216.536.2-2.469.530.5CNA Ins Cos 27.1Liberty Mutual Ins Cos 27.0 Other 53538074,9980.147.339.36.7100.1-0.1New Horizon Ins Co 40.3Natl Unity Ins Co 30.7 N. Mariana Is.575759380.023.946.87.1100.00.0Tokio Marine US PC Group 48.5DB Ins US Group 42.6 Grand Total1,124$53,974,934100.017.264.15.983.416.6Progressive Ins Group 16.1Travelers Group 5.5 1. ALR: Adjusted loss ratio is direct losses incurred divided by the difference between direct premium earned and dividends paid to policyholder. 2. DDCCE: Direct defense and cost containment expense ratio is the former allocated loss adjustment expense (ALAE) ratio. 3. Insurers that distribute primarily through independent agents. 4. Insurers that distribute primarily through a direct-selling system or an exclusive agency system. Note: Data for some companies in this report has been received from the NAIC. Source: — State/Line (P/C Lines) - P/C, US; data as of July 15, 2022.46 BEST’S REVIEW • OCTOBER 2022 Captives Panel: Captive Insurers Cautiously Venture Into Cyber Coverage The use of captives to manage cyberrisk may be a perfect solution for Main Street businesses. by Lori Chordas A panel of insurance and cyber experts said some single-parent and group captives have expanded their offerings to include cyber liability coverage, but have been conservative with the amount of risk assumed. Panel members speaking with AM Best TV at the Vermont Captive Insurance Association conference in Burlington, Vermont, were Jack Kudale, founder and chief executive officer of Cowbell; Dennis Silvia, the executive vice president of Davies Captive Management; and Fred Eslami, an associate director at AM Best. Following is an edited transcript of the interview. How are captives covering cyber for their parents and members? Eslami: We have seen that single-parent captives and group captives are relatively the most dominant captives who include cyber within themselves. Group captives usually do that because they want to have a menu that their members can pick from so they don’t have to go outside the captive and shop around for cyber, for example. At the same time, these groups provide limited limits, so to speak. It’s not aggressive. The type of coverage is well defined so that the members can pick from that option. For the single-parent captives—and let me emphasize on the maturity of the single-parent captives—then it’s a longer process. They’re the most intimate with the ERM (enterprise risk management) of the parent company. They understand the relationship between the employees, the HR, the treasuries, and they understand what they experienced in terms of cyber losses. They’re able to devise along with their captive managers and other partners to include cyber at a minimum retention or depending on what they end up providing to the parent company. Lori Chordas is a senior associate editor. She can be reached at lori.chordas@ambest.com.47 BEST’S REVIEW • OCTOBER 2022 How is that coverage being designed for captives? Are the limits being offered large, or are they limited? Silvia: You think about cyber in the sense of a marketplace that has limited capacity, generally. It’s a classic captive application. The problem is that the limit of insurances being offered from the traditional market is low because cyber is confusing and difficult to underwrite coverage. We’ve often recommended that our clients, rather than getting full force in with large limits that are offered autonomously by the captive, should seek out the assistance of a front company who understands from the perspective of underwriting coverage limitations, policy forms, etc. Then, get involved in some sharing with them either on taking a lower level loss so that they’re involved in things like notification to people who have had their information compromised, for instance, or some quota share arrangement. I just think that to step into those waters that are very deep and you don’t see the bottom, for a captive that’s not experienced in those things, is dangerous. We’ve taken a more conservative approach with our clients in recommending how they get involved in captives. To answer your question, lower limits typically, or some quota share with a partner that really understands the business. Cowbell announced a cyber insurance captive, Cowbell Re, earlier this year. Can you tell us about the impetus behind that? Kudale: As you know, Cowbell specialized in cyber insurance. We’re really known for our approach to underwriting, which is really based off of continuous underwriting and the proprietary ratings factor, the Cowbell factors that we base our underwriting precision on. It was really the underwriting results and the precision of our underwriting that really led us to get more confidence and participate in the quota share on our programs. We set up Cowbell Re at the beginning of January earlier this year. We now take just up to 10% of the quota share on pure pro programs. What is the most appealing aspect of creating a captive that’s dedicated to cyber? Kudale: As alluded to my panelists here, cyber is a hard market and it will likely remain that for the near future. In a supply-constrained environment, when you have a risk-sharing partner, it has really allowed us to get a reinsurance panel, about 15 A-rated reinsurance on our panel. That wasn’t the case prior to us participating in the risk, prior to Cowbell Re. It has been one of the most appealing parts, where we now have more participation on our programs than it was prior to Cowbell Re. Any thoughts to share about the appealing aspect of creating captives dedicated to cyber? Silvia: It certainly spreads the risk across this larger pool of reinsurance. It makes it a less risky proposition for the captive, who is probably the least funded of all the different entities that might be involved. It does allow them access to coverage, which, if that wasn’t the case from a supply-and- demand perspective, then essentially they’d be on that risk all their own. Again, a classic captive application. Eslami: The continuous underwriting mentioned is very important for cyber because you have to be there all the time, every time that policyholders are doing business. That’s the benefit that MGAs or captives like Cowbell Re provide to the market. “We have seen that single- parent captives and group captives are relatively the most dominant captives who include cyber within themselves.” Fred Eslami AM BestNext >