PROPERTY/CASUALTY INSURERS.Ranked by 2000 direct statewide property/casualty premiums written EXECUTIVE SUMMARY AFTER years of a soft market that saw bargains across a broad spectrum of property/casualty insurance, underwriters are once again gaining an upper hand as premiums head upward. It's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have a trend seen in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , as the state's 25 top underwriters of property/casualty insurance -- which includes auto, homeowner and a variety of business insurance -- cumulatively wrote insurance with direct premiums valued at $29.2 billion last year. That's up from $25.7 billion in 1999. If there is a trouble spot, it is in workmen's compensation Workmen's Compensation n. a former name for Workers' Compensation before the unisex title of the acts was adopted. insurance. The California market was deregulated in 1995, prompting prompting a stimulus that gets an animal to perform a desired behavior. insurers to slash rates in a bid for market share. The result was a series of failures, including Superior National of Calabasas, and a decision by carriers to hike rates sharply. Brokers report that even companies with good worker safety programs are having to swallow swallow, common name for small perching birds of almost worldwide distribution. There are about 100 species of swallows, including the martins, which belong to the same family. Swallows have long, narrow wings, forked tails, and weak feet. a doubling of rates in risky sectors, such as high-rise construction. THE PACESETTER ZURICH NORTH AMERICA North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ZURICH North America is the new No. 1 company on the list of top property/casualty insurers in the county, displacing State Farm Group, which fell to second. Its perch on top reflects the 1998 merger of B.A.T. Industries -- which owned L.A.-based Farmers Insurance Group -- with the Zurich Group, and the resulting creation of Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance Group. Farmers is the single largest domestic revenue source for the Swiss-based financial conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. . Statewide that is even more pronounced, with Farmers easily accounting for most of Zurich's nearly $4 billion in premium revenue. (In our last list, Farmers reported $3.2 billion in California premium volume written vs. $517 million for Zurich U.S.) Farmers is under a mandate A judicial command, order, or precept, written or oral, from a court; a direction that a court has the authority to give and an individual is bound to obey. A mandate might be issued upon the decision of an appeal, which directs that a particular action be taken, or upon a from Zurich to grow and grow fast, doubling the number of products it sells to existing customers while tripling its customer base. Its bread and butter butter, dairy product obtained by churning the fat from milk until it solidifies. In most areas the milk of cows is the basis, but elsewhere that of goats, sheep, and mares has been used. Butter was known by 2000 B.C. is in the home and auto markets, where it ranks third nationally, doing business in 41 states. But it does its share of commercial 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. . It also writes workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. and commercial auto policies. Martin Feinstein Feinstein, Finestein (Yiddish:פֿײַנשטײַן, Hebrew:פינשטיין, פיינשטיין , the chairman and chief executive of Farmers, plays a big role in Zurich's management, sitting on its board. He is also responsible for all of Zurich's consumer business in Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of , and for all of its insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. in Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. and five other South American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of nations.
HIGH EARNINGS
2000 premiums earned by selected firms within Zurich Insurance Group.
(In millions)
Farmers Insurance Exchange $1,780.4
Fire Insurance Exchange 747.3
Mid-Century Ins. Co. 319.9
Truck Ins. Exchange 271.9
Zurich American Ins. Co. 175
Universal Underwriters Ins. Co. 80.1
Fidelity & Deposit Co. of MD. 68
ZC Insurance Co. 56.5
Northern Insurance Co. of NY 53.6
Assurance Co. of America 45.1
Source: Calif. Dept. of Insurance
Rank Company
* name
* address
1 Zurich North America 2 (22)
801 N. Brand Blvd., Penthouse
Glendale 91203
2 State Farm Group (1)
31303 Agoura Road
Westlake Village 91363
3 American International Group (3)
777 S. Figueroa St.
Los Angeles 90017
4 Allstate Insurance Group (4)
725 W. Town & Country Road, Suite 400
Orange 92868
5 State Comp Insurance Fund of Calif. (7)
900 Corporate Center Drive
Monterey Park 91754
6 California State Auto Group (5)
4909 Lakewood Blvd., Suite 402
Lakewood 90712
7 Interinsurance Exchange of Auto Club 4
2601 S. Figueroa St.
Los Angeles 90007
8 Allianz of America Inc. (8)
3400 Riverside Drive, Suite 300
Burbank 91505
9 Mercury General Group (9)
4484 Wilshire Blvd.
Los Angeles 90010
10 Liberty Mutual Insurance Cos. (10)
333 City Blvd. West, Suite 300
Orange 92868
11 Nationwide Group (12)
1601 Exposition Blvd.
Sacramento 95815
12 CNA Insurance Cos. (11)
21650 Oxnard St., Sixth Floor
Woodland Hills 91367
13 The Hartford Insurance Group (14)
1 Pointe Drive, Suite 200
Brea 92821
14 Travelers/Citigroup Companies (18)
21688 Gateway Center Drive
Diamond Bar 91765
15 SAFECO Insurance Cos. (13)
330 N. Brand Blvd., Tenth.Floor
Glendale 91203
Calif. Premium Calif. Premium
Rank Volume Written Volume Earned
(millions) (millions)
* 2000 * 2000
* 1999 * 1999
* percentage gain (loss) * percentage gain (loss)
1 $3,969.5 $3,871.0
$3,854.4 $3,833.3
3.0 1.0
2 3,054.5 3,221.6
3,237.5 3,240.7
-5.7 -0.6
3 2,559.2 2,276.6
2,053.2 2,087.0
24.6 9.1
4 2,169.6 2,113.1
1,951.7 1,895.9
11.2 11.5
5 1,799.0 1,737.6
1,244.2 1,249.5
44.6 39.1
6 1,583.6 1,555.4
1,539.5 1,544.0
2.9 0.7
7 1,312.6 1,286.3
1,249.3 1,199.9
5.1 7.2
8 1,160.6 1,162.2
1,167.2 1,237.2
-0.6 -6.1
9 1,138.8 1,124.9
1,102.9 1,087.3
3.3 3.5
10 943.5 909.3
913.9 934.9
3.2 -2.7
11 821.2 776.6
718.3 689.8
14.3 12.6
12 809.9 873.4
894.4 880.9
-9.4 -0.9
13 806.0 743.1
668.6 630.2
20.6 17.9
14 800.0 725.1
666.2 634.6
20.1 12.7
15 758.4 727.5
688.4 671.1
10.2 8.4
California
Rank Rating Grades 1 Market Share
* 2000
* 1999
1 no group rating 3 10.4%
no group rating 3 10.7%
2 A++ 8.0
A++ 9.0
3 no group rating 3 6.7
A++ 5.7
4 A+ 5.7
A+ 5.4
5 B+ 4.7
B++ 3.4
6 no group rating 3 4.2
no group rating 3 4.3
7 A+ 3.5
NA
3.4
8 no group rating 3 3.0
no group rating 3 3.2
9 no group rating 3 3.0
no group rating 3 3.1
10 A+ 2.5
A+ 2.5
11 A+ 2.2
A+ 2.0
12 no group rating 3 2.1
no group rating 3 2.5
13 no group rating 3 2.1
no group rating 3 1.9
14 no group rating 3 2.1
no group rating 3 1.9
15 A 2.0
A+ 1.9
Rank Writer Information Headquarters
* direct / agency
* major lines
* (partial list)
1 agency Schumburg, Ill.
commercial property, auto
workers 1 compensation, liability
2 direct Bloomington, Ill.
auto, home, life, health, fire
3 agency New York
property/casualty, marine, life,
financial services
4 direct Northbrook, Ill.
auto, property, commercial,
financial services
5 direct/agency San Francisco
worker's compensation
6 direct San Francisco
auto, home, life
7 direct Costa Mesa
auto, homeowner/condo, renters,
life, boat, personal excess
liability
8 agency Burbank
commercial, international
9 agency Los Angeles
auto, home owners
10 direct Boston
workers' compensation, property,
auto, liability
11 agency Columbus,
auto, homeowners, life Ohio
12 agency Chicago
life, commercial, risk management,
surety
13 agency Hartford, Conn.
commercial, property,
workers' compensation, marine,
auto
14 agency Hartford, Conn.
workers' compensation, life, home,
commercial, commercial auto
liability
15 agency Seattle
personal, commercial, life, surety
Rank Top Local Executive
* name
* title
* phone
1 Pam McSmith
regional vice president
(818) 500-4700
2 Greg Jones
vice president, California
(818) 673-2800
3 Vincent Masucci
senior vice president, West
(213) 689-3500
4 Robert H. Barge III
field vice president
(800) 473-4889
5 J. C. Tudor
vice president
(877) 405-4545
6 Manuel Maciel
regional manager
(562) 259-3950
7 Thomas McKeman Jr.
ceo, president
(877) 422-2100
8 Wolfgang Schlink
president
(818) 972-8000
9 George Joseph
chairman, ceo
(323) 937-1060
10 Christopher R. Mitchell
regional manager
(800) 303-0100
11 Maria Sherwood
district claims manager
(877) 422-2100
12 P. Chichester/S. Stonehouse
branch president/zone
president
(818) 226-5000
13 Patsy Baumgartner
regional v.p.
(800) 221-5473
14 Janey Nethery
claims manager
(800) 258-3710
15 Don Chambers
v.p., regional marketing mgr.
(818) 956-4200
16 Great American P&C Insurance Group (17) $726.3 $692.4
750 The City Drive South $634.5 $589.9
Orange 92868 14.5 17.4
17 Chubb Group of Insurance Cos. (16) 685.9 662.6
801 S. Figueroa St. 636.3 651.0
Los Angeles 90017 7.8 1.8
18 USAA Group (19) 639.7 623.9
2241 Harvard St. 588.0 581.9
Sacramento 95815 8.8 7.2
19 Royal & SunAlliance USA (20) 580.3 552.1
801 N. Brand Blvd., Suite 500 534.9 513.5
Glendale 91203 8.5 7.5
20 Kemper Insurance Cos. (23) 536.4 484.0
2390 E. Orangewood Ave., Suite 400 454.9 448.8
Anaheim 92803 17.9 7.8
21 St. Paul Companies 511.5 468.9
800 E. Colorado, Suite 870 412.0 415.2
Pasadena 91101 24.2 12.9
22 Berkshire Hathaway Insurance Group (25) 502.8 472.4
465 N. Halstead St., Suite 104 412.4 402.5
Pasadena 91107 21.9 17.4
23 Fremont General Corp. (21) 457.1 492.8
2020 Santa Monica Blvd., Suite 600 528.9 508.9
Santa Monica 90404 -13.6 -3.2
24 Legion Insurance Group 442.1 403.8
19900 Macarthur Blvd., Suite 150 303.6 235.3
Irvine 92612 45.6 71.6
25 ACE INA Group 390.4 351.3
21860 Burbank Blvd., Suite 200 331.8 329.5
Woodland Hills 91367 17.7 6.6
16 no group rating 3 1.9% agency
no group rating 3 1.8% auto, commercial, health, workers'
compensation, surety, fidelity, inland
marine, ocean marine
17 A++ 1.8 agency
A++ 1.8 commercial, marine, excess liability,
executive coverage, personal
18 A++ 1.7 direct
A++ 1.6 auto, homeowners, life
19 no group rating 3 1.5 agency
no group rating 3 1.5 commercial, corporate, personal, claims,
ocean marine, workers compensation
20 A 1.4 agency
A 1.3 workers' compensation, commercial,
general liability, auto
21 A+ 1.3 agency
NA 1.1 property, liability, auto, workers'
compensation, umbrella, ocean and
inland marine
22 no group rating 3 1.3 agency
1.1 workers' compensation
23 no group rating 3 1.2 agency
no group rating 3 1.5 workers' compensation
24 A- 1.2 agency/broker
NA 0.8 workers' compensation, medical
malpractice, professional liability,
accident and health
25 no group rating 3 1.0 agency
no group rating 3 0.9 accident and health, aerospace,
diversified products, marine,
professional risk, property
16 Cincinnati Clark W. Gilbert
vice president
(714) 740-2400
17 Warren, N.J. Walter P. Guzzo
senior v.p., managing director
(213) 612-0880
18 San Antonio, Peter Kofoed
Texas branch manager
(800) 531-8222
19 Charlotte, N.C. David Erickson
v.p., claims manager
(818) 241-5212
20 Long Grove, III. John R. Hagerott
resident vice president
(714) 935-5700
21 Minnesota David A. Kuhn
regional president
(626) 578-7123
22 S. San Francisco, Michael G. Beach
Calif. vice president, claims
(626) 351-1180
23 Santa Monica James A. McIntyre
chairman, ceo
(310) 315-5500
24 Philadelphia Aleck Roberts
vice president, Irvine
(949) 553-9378
25 New York Allen Sanderson
regional vice president
(818) 712-6240
NA Not Available
(1)Grades A++ and A+ are assigned to companies that have demonstrated
superior overall performance when compared to the standards established
by A.M. Best Co. These companies have a very strong ability to meet
their obligations to policyholders over a long period of time.
Grades A and A- are assigned to companies that have demonstrated
excellent overall performance when compared to the standards established
by A.M. Best Co. These companies have a strong ability to meet their
obligations to policyholders over a long period of time.
Grades B++ and B+ are assigned to companies that have demonstrated very
good overall performance when compared to the standards established by
A.M. Best Co. These companies have a very good ability to meet their
obligations to policyholders over a long period of time.
Grades B and B- are assigned to companies that have demonstrated
adequate overall performance when compared to the standards established
by A.M. Best Co. These companies have a good ability to meet their
obligations to policyholders but their financial strength may be
vulnerable to unfavorable changes in underwriting or economic
conditions.
(2)Figures include Farmers Insurance Group, acquired by Zurich North
America in September 1999.
(3)Group consists of individually rated subsidiaries.
(4)Member of Automobile Club of Southern California.
Note:Numerical and rating information was supplied by A.M. Best Co.
(Oldwick, N.J.). Other information was supplied by representatives of
the companies themselves. Insurance companies are ranked by 2000
statewide direct property/casualty premiums written.
To the best of our knowledge, this information is accurate as of press
time. While every effort is made to ensure the accuracy and thoroughness
of the list, omissions and typographical errors sometimes occur. Please
send corrections or additions on company letterhead to the Research
Department, Los Angeles Business Journal, 5700 Wilshire Blvd.,
Suite 170, Los Angeles 90036.
[Graph graph, figure that shows relationships between quantities. The graph of a function y=f (x) is the set of points with coordinates [x, f (x)] in the xy-plane, when x and y are numbers. omitted] |
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