Building on record results.Building on record profits in 2006, the U.S. property/casualty industry continued favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. trends in the first quarter of 2007, posting net income after taxes of $16.7 billion. Despite an increasingly competitive marketplace and across-the-board softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. , A.M. Best Co. remains optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the industry's underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. results over the near term. Assuming catastrophe Catastrophe, from the Greek Καταστροφή (katastrephein), literally means "to turn" (strephein) "downwards" (kata-). losses are normal, A.M. Best still believes the U.S. property/casualty industry is well positioned for favorable underwriting results at year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. 2007. While the industry sustained solid operating results, competition continues to intensify in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: in virtually all personal and commercial lines.
2006 Direct Premiums Written by Line--U.S. Property/Casualty
($ Thousands)
Adjusted
Direct Loss Ratio
Premiums % of
Business Line Written Total %Chg 2006 2005
Private Passenger
Auto Liability $96,034,493 19.7 0.3 59.8 62.4
No-fault 11,063,227 2.3 -1.7 69.7 83.2
Other Liability 84,971,266 17.4 0.5 58.5 59.5
Private Passenger Auto
Physical Damage 66,023,454 13.5 0.4 55.9 57.3
Homeowners Multiple Peril 61,303,337 12.5 7.3 48.2 73.9
Workers' Compensation 53,790,144 11.0 -3.8 62.4 66.9
Other Liability 53,267,977 10.9 4.0 51.8 63.4
Commercial Mutiple Peril 35,617,214 7.3 5.5 42.8 61.2
Non-liability 21,213,968 4.3 6.2 42.2 71.5
Liability 14,403,245 2.9 4.4 43.6 46.5
Commercial Auto Liability 22,323,192 4.6 0.0 52.4 54.1
No-fault 580,259 0.1 0.7 55.7 60.5
Other Liability 21,742,933 4.5 0.0 52.3 54.0
Inland Marine 13,428,724 2.7 12.1 43.4 64.3
Medical Malpractice 11,520,332 2.4 -1.3 43.6 52.5
Fire 10,839,342 2.2 20.8 35.5 56.7
Allied 10,072,115 2.1 26.4 31.9 241.6
Commercial Auto
Physical Damage 7,510,608 1.5 -0.5 50.3 50.2
Mortgage Guaranty 5,342,126 1.1 3.6 41.3 35.9
Surety 4,951,425 1.0 12.2 16.7 41.6
Multiple Peril Crop 4,886,591 1.0 25.3 64.2 55.0
Product Liability 4,320,393 0.9 2.1 33.5 60.7
Group Accident & Health 3,188,910 0.7 -34.0 54.8 67.6
Ocean Marine 3,120,579 0.6 9.8 64.6 92.6
Financial Guaranty 2,823,285 0.6 -6.8 7.9 14.1
Farmowners Mutiple Peril 2,482,526 0.5 3.6 59.4 52.8
Earthquake 2,417,769 0.5 18.6 1.6 12.1
Federal Flood 2,299,549 0.5 19.9 90.4 891.2
Aircraft 2,184,955 0.4 5.6 40.2 55.5
Other Accident & Health 1,926,947 0.4 -19.9 73.9 68.4
Credit 1,276,340 0.3 15.4 41.1 44.1
Fidelity 1,162,431 0.2 -5.8 35.3 42.3
Boiler and Machinery 1,125,084 0.2 4.0 33.9 17.3
Burglary and Theft 208,354 0.0 61.1 15.6 19.0
Federal Employees Health -- -- -- -- 94.1
Miscellaneous 3,073,221 0.6 -11.5 61.4 63.6
Total P/C Industry $488,521,416 100.0 2.4 52.2 68.0
% % of
Mar- Writer's
ket Total
Business Line Leading Writer AMB # Share DPW
Private Passenger
Auto Liability State Farm Group 00088 17.5 34.9
No-fault State Farm Group 00088 16.6 3.8
Other Liability State Farm Group 00088 17.6 31.0
Private Passenger Auto
Physical Damage State Farm Group 00088 17.9 24.5
Homeowners Multiple Peril State Farm Group 00088 21.7 27.6
Workers' Compensation Amer Intl Group, 18540 12.6 21.4
Inc
Other Liability Amer Intl Group, 18540 18.8 31.7
Inc
Commercial Mutiple Peril Travelers Ins 18674 9.0 14.9
Cos
Non-liability Travelers Ins 18674 8.5 8.3
Cos
Liability Travelers Ins 18674 9.9 6.6
Cos
Commercial Auto Liability Travelers Ins s 18674 7.2 7.4
Cos
No-fault Progressive Ins 00780 11.2 0.5
Group
Other Liability Travelers Ins 18674 7.2 7.3
Cos
Inland Marine Amer Intl Group, 18540 7.8 3.3
Inc
Medical Malpractice MLMIC Group 18439 8.2 97.7
Fire Amer Intl Group, 18540 18.4 6.3
Inc
Allied Citizens 11712 18.7 55.3
Property Ins
Corp
Commercial Auto
Physical Damage State Farm Group 00088 7.8 1.2
Mortgage Guaranty Mortgage Guar 03014 24.9 100.0
Group
Surety Travelers Ins 18674 18.8 4.3
Cos
Multiple Peril Crop Ace INA Group 18498 17.7 11.4
Product Liability Amer Intl Group, 18540 13.2 1.8
Inc
Group Accident & Health Amer Intl Group, 18540 21.2 2.1
Inc
Ocean Marine Amer Intl Group, 18540 11.8 1.2
Inc
Financial Guaranty Ambac Finl Group 18449 27.2 99.9
Farmowners Mutiple Peril Nationwide Group 05987 8.6 1.3
Earthquake CA Earthquake 12534 20.7 100.0
Authority
Federal Flood Fidelity Natl 18606 17.3 68.8
Group
Aircraft Amer Intl Group, 18540 28.6 2.0
Inc
Other Accident & Health State Farm Group 00088 40.3 1.6
Credit Allianz of 18429 12.8 3.0
America, Inc
Fidelity Chubb Group of 00012 20.7 2.5
Ins Cos
Boiler and Machinery FM Global Group 18502 26.0 11.0
Burglary and Theft Liberty Mutual 00060 31.5 0.4
Ins Cos
Federal Employees Health -- -- --
Miscellaneous
Total P/C Industry State Farm Group 00088 9.9 100.0
% % of
Mar- Writer's
Second ket Total
Business Line Leading Writer AMB # Share DPW
Private Passenger
Auto Liability Allstate Ins 00008 10.8 37.2
Group
No-fault Allstate Ins 00008 11.1 4.4
Group
Other Liability Allstate Ins 00008 10.8 32.8
Group
Private Passenger Auto
Physical Damage Allstate Ins 00008 12.0 28.4
Group
Homeowners Multiple Peril Allstate Ins 00008 11.9 26.2
Group
Workers' Compensation Liberty Mutual 00060 10.4 31.3
Ins Cos
Other Liability Zurich Finl Svcs 18549 7.1 29.0
NA Group
Commercial Mutiple Peril Hartford Ins 00048 6.0 18.3
Group
Non-liability Hartford Ins 00048 6.5 11.8
Group
Liability Nationwide Group 05987 5.4 4.8
Commercial Auto Liability Progressive Ins 00780 6.7 10.4
Group
No-fault Amer Transit Ins 04660 7.6 24.1
Co
Other Liability Progressive Ins 00780 6.6 10.0
Group
Inland Marine CNA Ins Cos 18313 7.6 11.2
Medical Malpractice Amer Intl Group, 18540 7.1 2.6
Inc
Fire Travelers Ins 18674 6.5 3.2
Cos
Allied FM Global Group 18502 10.8 40.8
Commercial Auto
Physical Damage Progressive Ins 00780 6.4 3.3
Group
Mortgage Guaranty Radian Group 18150 17.2 82.3
Surety Zurich Finl Svcs 18549 8.6 3.3
NA Group
Multiple Peril Crop Centurion Ins 18188 16.7 99.9
Group
Product Liability Zurich Finl Svcs 18549 9.9 3.3
NA Group
Group Accident & Health Federated Mutual 04284 10.1 27.0
Group
Ocean Marine Travelers Ins 18674 9.7 1.4
Cos
Financial Guaranty MBIA Group 03166 19.5 100.0
Farmowners Mutiple Peril State Farm Group 00088 6.7 0.3
Earthquake State Farm Group 00088 8.7 0.4
Federal Flood State Farm Group 00088 14.6 0.7
Aircraft Berkshire 00811 12.9 1.9
Hathaway Ins
Other Accident & Health CNA Ins Cos 18313 23.9 5.1
Credit Allstate Ins 00008 11.1 0.5
Group
Fidelity Amer Intl Group, 18540 18.1 0.7
Inc
Boiler and Machinery Amer Intl Group, 18540 13.8 0.5
Inc
Burglary and Theft Travelers Ins 18674 15.7 0.2
Cos
Federal Employees Health -- -- --
Miscellaneous
Total P/C Industry Amer Intl Group, 18540 6.5 100.0
Inc
Source: A.M. Best Statement Products: State/Line. For more information
about custom data, call (908) 439-2200, Ext. 5383.
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