National Underwriter's Top 100 and Heads of the Lines lists — the data for which is provided by S&P Global Market Intelligence — today offer a look at the best and worst combined ratios among P&C groups in 2016.
Genworth Financial Inc. improved its CR by 13.37 points to top the list of Best Combined Ratios with an impressive industry-leading 48.13. Likewise, FM Global improved its CR to 83.57, a decrease of nearly three points from 2015.
While AIG remains ensconced in the top 10 Groups, its combined ratio in 2016 was one of the highest in the industry, at 131.33. The carrier says that combined ratio figure “reflects prior year development, widely reported at this point, which we have addressed through our adverse development cover with Berkshire for accident year 2015 and prior, and by setting more conservative loss picks for AY 2016 and 2017, to further protect against future prior year development,” according to a spokesman. “It is important to note that improvements in business mix and the increased use of underwriting tools and analytics led to a 4.1 improvement in our adjusted AY loss ratio in financial year 2016 to 66.7 from 70.8 in financial year 2015, after adjusting the prior year for the increase in loss picks.”
The S&P Global Market Intelligence data throughout this feature is derived from all U.S. companies that file with the National Association of Insurance Commissioners (NAIC).
Combined RatiosCreate line charts
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
