According to Insuramore, a provider of marketing services focusing on the insurance sector, despite the auto (motor) insurance sector remaining a tough market, some challengers are growing profitably.
The firm’s recently published ranking for the market shows that its gross direct premiums written (GDPW ) rose to around $822.5 billion in 2021.
Progressive overtook State Farm becoming the world’s largest underwriting group in this sector, followed by China-based PICC in 3rd position, Berkshire Hathaway Insurance in 4th and Ping An in 5th.
