P/C Direct Premium Written Up 4.1 Percent through Third Quarter
By: Douglas Powell
Direct premium written (DPW) for Property/Casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of DPW was reported, an all time high for the industry. For 2012, total DPW for all P/C insurers aggregately increased 4.4 percent over 2011, an increase of nearly $22.3 billion. Through the third quarter of 2013, this growth trend has continued, as DPW for all P/C insurers aggregately increased 4.1 percent over third quarter 2012.
For the nine months ending September 30, 2013, P/C companies comprising the Top 25 insurers in terms of DPW growth leveraged their experience and increased DPW nearly 14 percent over 2012. This continues the Top 25 insurers’ impressive display of premium growth and financial stability. The Top 25 accounted for nearly 61 percent of the growth in the P/C insurance industry’s DPW. In contrast, the remainder of the industry reported an increase in DPW of only 2 percent year over year.
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