Top 10 U.S. Excess/Surplus Insurers

Top 10 U.S. Excess, Surplus Insurers of 2010 by Market Share

According to SNL Financial:

1. American International Group
2. Zurich Financial Services Ltd.
3. Nationwide Mutual Group
4. ACE Ltd.
5. W.R. Berkley Corp.
6. Markel Corp.
7. CNA Financial Corp.
8. QBE Insurance Group Ltd.
9. Alleghany Corp.
10. Fairfax Financial Holdings Ltd.

Based on direct premiums written for the 12 months ended Dec. 31, 2010

Of the top five, ACE Ltd. was the only company with an increase in direct premiums written year over year. While U.S. E&S premiums were down at ACE unit Westchester Surplus Lines Insurance Co., falling to $408.7 million from $454.9 million, that decline was more than offset by a climb in Illinois Union Insurance Co.’s premiums, which rose to $522.2 million from $437.3 million.

Domiciled in Illinois, as the name suggests, Illinois Union falls under the ACE American Insurance Co. umbrella, along with Rain and Hail Insurance Service Inc. (the holding company for crop insurer Agri General Insurance Co.) and Pacific Employers Insurance Co., the latter the parent of Illinois Union. Of the states in which it writes, Illinois Union reported a particularly large increase in Florida, where direct premiums written jumped to $74.7 million from $25.8 million.

Source: SNL Financial

Topics USA Carriers Excess Surplus Illinois