Search
 
Slideshow

Report: Top E&S carriers of 2023

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

10. AXA SA


Direct premiums written (2023): $1.96 billion

9. Liberty Mutual


Direct premiums written (2023): $2.31 billion

8. STARR Insurance Companies


Direct premiums written (2023): $2.71 billion

7. Nationwide


Direct premiums written (2023): $2.84 billion

6. Chubb


Direct premiums written (2023): $3.18 billion

Advertisement

5. W.R. Berkley Corporation


Direct premiums written (2023): $3.61 billion

4. Markel


Direct premiums written (2023): $3.68 billion

3. Fairfax Financial


Direct premiums written (2023): $4.04 billion

2. AIG


Direct premiums written (2023): $4.96 billion

1. Berkshire Hathaway


Direct premiums written (2023): $8.39 billion

Advertisement

For the fifth year in a row, excess and specialty (E&S) insurance lines premiums grew by at least double digits in 2023, reports S&P Global. However, the yearly rate of growth that peaked in 2021 at 32.3% slowed in both 2022 and 2023 to 20.1% and 14.5%, respectively.

S&P Global reports that E&S premiums made up 9.2% of total direct written premium in the U.S. in 2023 – an increase from 8.8% in 2022. They predict that softening market conditions in some significant E&S lines could lead market gains to slow even more in 2024.

Of the E&S premium written in 2023, 52.5% was within various casualty or liability coverages, including medical professional liability, product liability and other liability (claims-made and occurrence). Specialty property lines, including allied lines, commercial multi-peril (non-liability), fire and homeowners comprised 31.7% of 2023 E&S premium. About 5.4% of E&S premium fell under commercial auto coverages, including commercial auto no-fault, commercial auto physical damage and other commercial auto liability.

For the entirety of 2023, E&S premiums in the United States totaled $86.47 billion, up from $75.51 billion in 2022.

In the slideshow above, we’ll look at the ten insurers that dominated the excess and specialty lines space in the U.S. last year, according to data from S&P Global’s latest market report.

Related:

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Copyright © 2024 ALM Global, LLC. All Rights Reserved.