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AXIS Capital leads with low loss ratio as fire insurers diverge
AXIS Capital posted 47.3% year-on-year fire premium growth in 2024 and a 24.5% loss ratio, while Starr Group’s loss ratio rose to 59.1% as its fire premiums totaled $2.25 billion.
Insurance Business America reports that fire insurance carrier performance in 2024 is being separated by underwriting discipline as loss ratios shift across the industry.
AXIS Capital Group stood out, with fire premiums up 47.3% year-on-year in 2024 and the best loss ratio in the table at 24.5%. Liberty Mutual also highlighted a turnaround, cutting its loss ratio from 63.1% to 34.3% in one year while still growing premium 15%.
In contrast, Berkshire Hathaway pulled back selectively, with DPW down 14.3% while its loss ratio held at 32.7%. Starr Group remained the largest carrier by premium at $2.25 billion, but its loss ratio climbed from 39.1% to 59.1% heading into 2025.