CINCINNATI (July 17, 2018) – The list of Ward's 50® top performing insurance companies was released by Aon plc, a leading global professional services firm providing a broad range of risk, retirement, and health solutions. Ward benchmarking is the leading operational and compensation benchmarking and best practices service for insurance companies.
The Ward’s 50 property-casualty group of insurance companies produced an 11.4 percent statutory return on average equity from 2013 to 2017, compared to 8.1 percent for the property-casualty industry overall. The Ward’s 50 life-health group of insurance companies produced a 17.2 percent statutory return on average equity from 2013 to 2017, compared to 9.5 percent for the life-health industry overall.
“In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results,” said Jeff Rieder, partner and head of Ward benchmarking at Aon.
In addition to achieving greater levels of income returns, the Ward’s 50 benchmarks also outperformed in other key performance benchmarks:
The Ward’s 50 benchmark group also continues to achieve lower expense ratios. “The expense ratio decreased slightly in 2017 for the property-casualty but increased for the life-health benchmark. We still find the Ward’s 50 benchmarks comparing better than the industry average,” said Rieder.
In 2017, expenses relative to revenue were 9.0 percent lower for the Ward’s 50 property-casualty group of companies and 13.9 percent lower for the Ward’s 50 life-health group.
For a complete list of the 2018 Ward’s 50 companies, or to order a Ward’s 50 comparison report comparing an individual company’s results to the Ward's 50 benchmarks for select metrics, go to ward.aon.com/ward-benchmarking/wards50.
About the Ward’s Top 50
To develop its annual list of the top 50 performing insurance companies, we analyze the financial performance of nearly 3,000 property-casualty insurance companies and more than 700 life-health insurance companies domiciled in the United States, identifying the top performers in each segment based on objective data and subjective quality measures. Each company has passed all safety and consistency screens and achieved superior performance over the five years analyzed. This is the 28th consecutive year we have conducted the analysis.
Safety and Consistency Tests
Each company must pass primary safety and consistency tests, including:
We'll review the financial stability of all companies to ensure that they have the potential to grow while maintaining strong financial figures. Companies that pass the safety and consistency tests are measured and scored on the following elements:
* Applicable only to property-casualty insurance companies.
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
About Ward Benchmarking
We are the leading provider of benchmarking and best practices studies for the insurance industry. We analyzes staff levels, compensation, business practices, and expenses for all areas of company operations and helps insurers to measure results compared to peer groups, optimize performance, and improve profitability. For more information, please visit ward.aon.com.
Betty Cornelius, 513.746.2404, firstname.lastname@example.org