CHICAGO--(BUSINESS WIRE)--Link to Fitch Ratings' Report: U.S. Personal Auto Insurance Dashboard
Fitch Ratings has published a Dashboard Report for the U.S. Personal Auto Insurance sector.
Despite several years of rising premium rates the industry continues to underwrite at a loss in private passenger automobile insurance, with only a modest change in the segment's underwriting combined ratio over the last five years. The best performing auto writers over the five-year period 2009-2013 were GEICO and Progressive, measured by both segment premium growth and underwriting profits.
Highlights from the U.S. Personal Auto Insurance Dashboard include a review of personal auto market share. Notably, GEICO claimed the second largest market share position in 2013.
Advertising continues to be a key vehicle for competition among auto insurers. The report lists the individual insurers with the largest advertising expenditures.
Lastly, a review of private passenger auto underwriting performance by state reveals wide disparity in performance. Michigan is the worst performing state by a considerable margin with a nearly 140% direct combined ratio.
The 'U.S. Personal Auto Insurance Dashboard' is available on Fitch's website at 'www.fitchratings.com' or by clicking on the link.
Additional information is available at 'www.fitchratings.com'.