S&P Global(SPGI) Prnewswire·2024-07-10 16:00Core Insights - The U.S. Property and Casualty (P&C) Insurance Performance Rankings indicate that commercial insurers outperformed personal line carriers in key performance metrics, including earnings and underwriting profitability [1][4] - Kinsale Capital Group Inc. was ranked as the top performing U.S. P&C insurer for the second consecutive year, with a direct premiums written growth of nearly 42.4% and a total volume of $1.57 billion in 2023, marking a 105.2% increase from two years prior [3] - Only two personal lines carriers, Progressive Corp. and Berkshire Hathaway Inc., made it to the top 50 performers, with both companies showing strong performance in their private auto businesses [4] Performance Metrics - The rankings are based on 13 financial metrics from 2023 statutory filings, categorized into six buckets: rates of return, underwriting profitability, balance sheet expansion, investment performance, prior-accident-year reserve development, and premium growth [2] - Specialty commercial lines underwriters benefited from favorable pricing and disciplined underwriting, which were common themes among top performers [4] Company Rankings - The U.S. subsidiary of Arch Capital Group Ltd. secured the second spot in the rankings, while FM Global Group's U.S. subsidiary ranked third [3] - Berkshire Hathaway's overall performance was bolstered by significant net realized capital gains, contributing to its ranking [4]