Prior year loss and LAE reserve development percentage is calculated in relation to reported total prior year loss and LAE reserves.
Negative denotes reserve releases, while positive denotes reserve strengthening.
Carrier | Prior year loss & LAE reserve development ($mn) as of 06/30 | Prior year loss & LAE reserve development (%) as of 06/30 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
2020 | 2021 | 2022 | 2023 | 2024 | 2020 | 2021 | 2022 | 2023 | 2024 | |
State Farm | −3,187 | −3,748 | −2,284 | −2,751 | −2,013 | −7.9% | −9% | −5.1% | −5.2% | −3.3% |
Progressive | 114 | 203 | 140 | 1,095 | −75 | 0.7% | 1.2% | 0.7% | 4.4% | −0.3% |
Berkshire Hathaway | −1,075 | −2,212 | −2,248 | −2,153 | −1,450 | −1.4% | −2.7% | −2.4% | −2.2% | −1.4% |
Allstate | −14 | −337 | 610 | 72 | −291 | −0.1% | −1.6% | 2.8% | 0.3% | −1% |
Liberty Mutual | 115 | −186 | −277 | −614 | −44 | 0.3% | −0.4% | −0.5% | −1.1% | −0.1% |
Travelers | −2 | −422 | −372 | −133 | −232 | −0.01% | −1% | −0.8% | −0.3% | −0.5% |
USAA | −132 | −177 | 589 | −162 | −783 | −1.2% | −1.7% | 5.2% | −1.1% | −5.1% |
Chubb | 113 | −173 | −198 | −62 | −211 | 0.4% | −0.5% | −0.5% | −0.2% | −0.5% |
Farmers Ins. | −11 | −142 | −283 | −175 | −336 | −0.1% | −1.3% | −2.5% | −1.5% | −2.8% |
Nationwide | 372 | −120 | 81 | 682 | −71 | 2.3% | −0.7% | 0.5% | 3.9% | −0.4% |
Zurich | −21 | −137 | 12 | 133 | 68 | −0.2% | −1.1% | 0.1% | 1.1% | 0.6% |
American Family | −99 | −164 | 53 | −180 | −680 | −1.3% | −2.1% | 0.6% | −2% | −6.9% |
AIG | 148 | 18 | −225 | 67 | 58 | 0.5% | 0.1% | −0.8% | 0.3% | 0.2% |
The Hartford | −289 | 84 | −102 | −7 | −100 | −1.3% | 0.3% | −0.4% | −0.03% | −0.4% |
CNA | 74 | −4 | −40 | 58 | 40 | 0.4% | −0.02% | −0.2% | 0.3% | 0.2% |
Auto-Owners Ins. | −32 | −247 | −60 | −250 | −771 | −0.5% | −3.9% | −0.9% | −3.2% | −8.1% |
Tokio Marine | 107 | 38 | −47 | 18 | 19 | 0.8% | 0.3% | −0.3% | 0.1% | 0.1% |
Fairfax Financial | −113 | −16 | −80 | 51 | −193 | −1% | −0.1% | −0.6% | 0.3% | −1.2% |
Erie Ins. | 1 | −58 | 137 | 128 | −134 | 0.02% | −1.2% | 2.5% | 2% | −1.9% |
WR Berkley | 9 | −4 | −36 | 49 | 8 | 0.1% | −0.04% | −0.3% | 0.4% | 0.1% |
Top 20 | −3,923 | −7,802 | −4,629 | −4,134 | −7,190 | −0.9% | −1.7% | −0.9% | −0.8% | −1.2% |
All others | −773 | −1,765 | −2,095 | −1,231 | −726 | −0.3% | −0.7% | −0.8% | −0.4% | −0.2% |
P&C industry (ex-Berks) | −3,621 | −7,356 | −4,476 | −3,212 | −6,466 | −0.6% | −1.2% | −0.6% | −0.4% | −0.8% |
P&C industry (ex-Berks and SF) | −434 | −3,608 | −2,193 | −461 | −4,453 | −0.1% | −0.6% | −0.3% | −0.1% | −0.6% |
P&C Industry | −4,696 | −9,568 | −6,724 | −5,365 | −7,916 | −0.7% | −1.3% | −0.9% | −0.6% | −0.9% |