A.M. Best: Mutuals Shifting Into Small Commercial Market

Net premiums written among U.S. property and casualty mutual insurance companies grew at a moderate pace of 3.1% in 2015, and have grown each year since 2010 at a compound average rate of 3.4%, according to a new report from A.M. Best. The report attributed growth in net premiums written over the last five years to rate actions. The mutual insurance market is dominated by a group of major players, the report noted, as the 10 largest mutual insurers accounted for more than 70% of NPW in 2015. State Farm Group accounted for 41% of the market, and Nationwide Group followed a...