UnitedHealth Group took the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for the seventh straight year, the rating agency has reported. The insurer posted $201.5 billion in net premiums written (NPW) in 2020. Allianz SE and AXA S.A. took the first and second spots in AM Best’s ranking by 2020 non-banking assets.
AM Best released its rankings of the largest global insurance companies by NPW and non-banking assets in the Jan. 3 issue of BestWeek.
Citizens seeks approval for substantial homeowners insurance rate increases in 2022-23 With thousands of new policies a week pouring into Citizens Property Insurance Corp., the state-backed insurer’s board approved seeking 11% across-the-board rate increases next year. The Citizens Board of Governors tossed aside a staff recommendation that, in part, called for increasing homeowners’ rates by an average of 7.3% in 2022, with the hikes varying based on factors such as location