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U.S. Banking Companies with Highest Multiples of Net to Salary, Benefits

Published January 02, 2003, 10:08 a.m. EST
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Updated January 02, 1970, 9:08 a.m. EST
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U.S. Banking Companies with Highest Multiples of Net to Salary, Benefits

Top 150 Individual Property/Casualty Insurers by Policyholder Surplus*
On Sept. 30, 2002. Dollars in thousands
Published December 27, 2002
  Surplus  
Sept. 30 Year earlier Change
1 State Farm Mutual Auto Insurance Co. Bloomington, Ill. $29,525,525 $38,177,787 -22.70%
2 National Indemnity Co. Omaha 15,072,471 12,043,300 25.2
3 Allstate Insurance Co. Northbrook, Ill. 13,587,155 12,816,574 6
4 Travelers Insurance Co. Accident Department Hartford, Conn. 6,798,676 4,972,648 36.7
5 United Services Auto Association San Antonio 6,665,304 6,463,967 3.1
6 National Union Fire Insurance Co. of Pittsburgh New York 6,371,481 6,360,311 0.2
7 Hartford Fire Insurance Co. Conn. 5,685,614 4,959,828 14.6
8 Nationwide Mutual Insurance Co. Columbus, Ohio 5,435,010 5,683,957 -4.4
9 St. Paul Fire and Marine Insurance Co. 4,671,523 4,432,957 5.4
10 Continental Casualty Co. Chicago 4,637,397 4,397,030 5.5
11 Employers Reinsurance Corp. Overland Park, Kan. 4,320,618 4,917,735 -12.1
12 General Reinsurance Corp. Stamford, Conn. 4,094,747 3,612,976 13.3
13 Liberty Mutual Insurance Co. Boston 3,988,047 4,702,961 -15.2
14 Government Employees Insurance Co. Washington 3,939,903 3,655,477 7.8
15 Columbia Insurance Co. Omaha 3,685,461 3,619,399 1.8
16 Travelers Indemnity Co. Hartford, Conn. 3,673,255 3,206,022 14.6
17 Federal Insurance Co. Warren, N.J. 3,265,461 3,064,970 6.5
18 MBIA Insurance Corp. Armonk, N.Y. 3,113,900 2,414,399 29
19 American Home Assurance Co. New York 3,041,943 3,374,251 -9.8
20 Travelers Casualty and Surety Co. Hartford, Conn. 2,836,724 3,275,913 -13.4
21 State Farm Fire and Casualty Co. Bloomington, Ill. 2,826,967 4,569,562 -38.1
22 Auto-Owners Insurance Co. Lansing, Mich. 2,771,789 2,717,678 2
23 Zurich American Insurance Co. Schaumburg, Ill. 2,330,898 2,161,625 7.8
24 Cincinnati Insurance Co. 2,278,715 2,554,990 -10.8
25 Swiss Reinsurance America Corp. Armonk, N.Y. 2,206,287 1,605,286 37.4
26 Anthem Insurance Companies Inc. Indianapolis 2,156,616 2,208,578 -2.4
27 American Reinsurance Co. Princeton, N.J. 2,153,532 1,619,571 33
28 Ambac Assurance Corp. New York 2,153,428 1,771,305 21.6
29 Erie Insurance Exchange Pa. 2,147,617 2,899,360 -25.9
30 Allianz Insurance Co. Burbank, Calif. 2,089,782 2,446,179 -14.6
31 American Family Mutual Insurance Co. Madison, Wis. 1,957,540 2,386,464 -18
32 OneBeacon Insurance Co. Boston 1,929,473 1,943,375 -0.7
33 Sentry Insurance Stevens Point, Wis. 1,908,446 1,900,663 0.4
34 Metropolitan Property and Casualty Insurance Co. Warwick, R.I. 1,869,935 1,735,611 7.7
35 Farmers Insurance Exchange Los Angeles 1,847,015 1,830,119 0.9
36 Firemans Fund Insurance Co. Novato, Calif. 1,846,565 2,160,596 -14.5
37 Wesco-Financial Insurance Co. Omaha 1,830,323 1,764,466 3.7
38 Lexington Insurance Co. Boston 1,799,739 1,659,992 8.4
39 Interins Exchange of the Automobile Club Santa Ana, Calif. 1,799,731 1,839,136 -2.1
40 Factory Mutual Insurance Co. Johnston, R.I. 1,780,197 1,683,717 5.7
41 National Fire and Marine Insurance Co. Omaha 1,742,973 1,952,605 -10.7
42 U.S. Fidelity and Guaranty Co. St. Paul 1,737,661 1,966,024 -11.6
43 California State Auto Assn. Inter-Insurance San Francisco 1,672,212 1,775,345 -5.8
44 New Jersey Manufacturers Insurance Co. West Trenton 1,550,948 1,527,044 1.6
45 Mortgage Guaranty Insurance Corp. Milwaukee 1,487,169 1,258,730 18.1
46 Transatlantic Reinsurance Co. New York 1,467,881 1,413,702 3.8
47 Indiana Old National Insurance Co. Burlington, Vt. 1,435,326 1,083,087 32.5
48 Hartford Accident and Indemnity Co. Conn. 1,396,344 1,074,279 30
49 USAA Casualty Insurance Co. San Antonio 1,337,729 1,146,819 16.6
50 Progressive Casualty Insurance Co. Mayfield Village, Ohio 1,329,936 1,292,588 2.9
51 Everest Reinsurance Co. Liberty Corner, N.J. 1,263,451 1,203,864 4.9
52 Amica Mutual Insurance Co. Providence, R.I. 1,220,518 1,337,733 -8.8
53 Southern Farm Bureau Casualty Insurance Co. Ridgeland, Miss. 1,200,657 1,211,706 -0.9
54 Lumbermens Mutual Casualty Co. Long Grove, Ill. 1,162,398 1,753,676 -33.7
55 Financial Guaranty Insurance Co. New York 1,103,616 1,032,668 6.9
56 Medical Liability Mutual Insurance Co. Latham, N.Y. 1,082,009 1,458,341 -25.8
57 Nationwide Mutual Fire Insurance Co. Columbus, Ohio 1,061,168 1,104,066 -3.9
58 Financial Security Assurance Inc. New York 1,048,311 766,306 36.8
59 Commerce and Industry Insurance Co. New York 1,036,188 944,187 9.7
60 General Electric Mortgage Insurance Corp. Raleigh, N.C. 1,026,952 1,014,775 1.2
61 Federated Mutual Insurance Co. Owatonna, Minn. 1,024,929 1,070,617 -4.3
62 Tennessee Farmers Mutual Insurance Co. Columbia, Tenn. 1,015,428 980,618 3.5
63 Xl Reinsurance America Inc. Stamford, Conn. 1,000,270 560,796 78.4
64 Auto Club Insurance Association Dearborn, Mich. 989,826 1,005,491 -1.5
65 TIG Insurance Co. Irving, Tex. 960,690 884,116 8.7
66 Odyssey America Reinsurance Co. Stamford, Conn. 944,854 818,965 15.4
67 Country Mutual Insurance Co. Bloomington, Ill. 931,049 967,824 -3.8
68 Phoenix Insurance Co. Hartford, Conn. 918,233 898,209 2.2
69 Geico Indemnity Co. Washington 904,250 722,672 25.1
70 Great American Insurance Co. Cincinnati 894,112 949,562 -5.8
71 Hanover Insurance Co. Worcester, Mass. 892,621 1,004,423 -11.1
72 Mercury Casualty Co. Los Angeles 871,002 911,130 -4.4
73 Standard Fire Insurance Co. Hartford, Conn. 868,291 973,687 -10.8
74 Motors Insurance Corp. Southfield, Mich. 834,736 1,181,571 -29.4
75 National Fire Insurance Co. of Hartford Chicago 821,557 736,714 11.5
76 Folksamerica Reinsurance Co. New York 821,392 424,299 93.60
77 Farmers Reinsurance Co. Los Angeles 766,040 756,060 1.3
78 State Automobile Mutual Insurance Co. Columbus, Ohio 749,605 730,594 2.6
79 Insurance Co. of the State of Pennsylvania New York 738,236 849,380 -13.1
80 GE Reinsurance Corp. Barrington, Ill. 727,065 786,319 -7.5
81 Berkley Insurance Co. Greenwich, Conn. 726,448 624,794 16.3
82 Travelers Casualty and Surety Co. of America Hartford, Conn. 717,543 691,370 3.8
83 Alfa Mutual Insurance Co. Montgomery, Ala. 717,224 710,226 1
84 Shelter Mutual Insurance Co. Columbia, Mo. 688,050 749,415 -8.2
85 Ohio Casualty Insurance Co. Fairfield 679,516 766,845 -11.4
86 Kemper Commercial Insurance Co. Long Grove, Ill. 676,273 10,928 6088.4
87 Employers Insurance of Wausau Wis. 674,284 674,739 -0.1
88 Liberty Mutual Fire Insurance Boston 671,541 803,909 -16.5
89 National Reinsurance Corp. Stamford, Conn. 665,887 594,534 12
90 Safeco Insurance Co. of America Seattle 664,519 729,200 -8.9
91 Converium Reinsurance North America Inc. Stamford, Conn. 659,219 928,838 -29
92 Continental Insurance Co. Chicago 646,619 621,588 4
93 Hartford Casualty Insurance Co. Conn. 638,859 563,341 13.4
94 New Hampshire Insurance Co. New York 628,231 567,523 10.7
95 GE Property and Casualty Insurance Co. Fort Washington, Pa. 618,184 589,756 4.8
96 Hartford Insurance Co. of Illinois Hartford, Conn. 597,757 475,498 25.7
97 Allstate Floridian Insurance Co. Northbrook, Ill. 594,188 597,252 -0.5
98 State Farm General Insurance Co. Bloomington, Ill. 577,083 482,119 19.7
99 Prudential Property and Casualty Insurance Co. Holmdel, N.J. 575,512 1,052,304 -45.3
100 Birmingham Fire Insurance Co. of Pennsylvania New York 572,922 524,203 9.3
101 Alfa Mutual Fire Insurance Co. Montgomery, Ala. 571,143 558,006 2.4
102 State Farm Lloyds Inc. Dallas 571,017 65,528 771.4
103 Nationwide Indemnity Co. Columbus, Ohio 568,084 611,521 -7.1
104 United States Fire Insurance Co. Morristown, N.J. 562,885 499,893 12.6
105 Allstate New Jersey Insurance Co. Northbrook, Ill. 560,393 595,992 -6
106 Commerce Insurance Co. Webster, Mass. 556,064 583,364 -4.7
107 Ohio Farmers Insurance Co. Westfield Center 543,618 587,013 -7.4
108 New Jersey Re-Insurance Co. West Trenton 536,008 474,054 13.1
109 Old Republic Insurance Co. Greensburg, Pa. 524,601 534,704 -1.9
110 Mercury Insurance Co. Los Angeles 521,786 546,277 -4.5
111 PMA Capital Insurance Co. Philadelphia 518,604 472,101 9.9
112 Harleysville Mutual Insurance Co. Pa. 510,102 531,476 -4
113 Kentucky Farm Bureau Mutual Insurance Co. Louisville 505,827 590,155 -14.3
114 Trinity Universal Insurance Co. Dallas 505,082 758,956 -33.5
115 Gulf Insurance Co. Dallas 500,381 300,272 66.6
116 Blue Cross and Blue Shield of South Carolina Inc. Columbia 487,477 404,392 20.5
117 Citizens Insurance Co. of America Howell, Mich. 483,853 487,124 -0.7
118 Pacific Indemnity Co. Warren, N.J. 479,179 476,089 0.6
119 Odyssey Reinsurance Corp. Stamford, Conn. 477,301 366,960 30.1
120 North Carolina Farm Bureau Mutual Insurance Co. Raleigh 469,099 450,835 4.1
121 Mid-Century Insurance Co. Los Angeles 466,933 559,724 -16.6
122 Royal Indemnity Co. Charlotte 464,348 230,363 101.6
123 General Insurance Co. of America Seattle 460,705 494,913 -6.9
124 PXRE Reinsurance Co. Edison, N.J. 456,438 325,260 40.3
125 Hartford Steam Boiler Inspection Insurance Co. Hartford, Conn. 454,028 401,102 13.2
126 American Casualty Co. of Reading Pennsylvania Chicago 451,227 435,893 3.5
127 American Motorists Insurance Co. Long Grove, Ill. 447,747 469,940 -4.7
128 MGIC Reinsurance Corp. of Wisconsin Milwaukee 444,014 398,569 11.4
129 Starr Excess Liability Insurance Co. New York 439,542 436,347 0.7
130 Health Care Indemnity Inc. Nashville 437,947 532,160 -17.7
131 Medical Protective Co. Fort Wayne, Ind. 437,808 434,951 0.7
132 AIU Insurance Co. New York 435,292 421,480 3.3
133 State Farm Florida Insurance Co. Winter Haven 435,115 455,742 -4.5
134 Hartford Underwriters Insurance Co. Conn. 433,476 390,989 10.9
135 OneBeacon America Insurance Co. Boston 426,258 392,287 8.7
136 Cornhusker Casualty Co. Omaha 422,200 385,507 9.5
137 American States Insurance Co. Seattle 421,582 366,875 14.9
138 FSA Insurance Co. New York 407,742 359,026 13.6
139 General Star Indemnity Co. Stamford, Conn. 406,701 396,361 2.6
140 Clarendon National Insurance Co. New York 403,502 297,930 35.4
141 Atlas Assurance Co. of America Keene, N.H. 403,298 397,840 1.4
142 Employers Mutual Casualty Co. Des Moines 396,291 437,195 -9.4
143 Atlantic Mutual Insurance Co. New York 390,990 405,490 -3.6
144 Travelers Casualty and Surety Co. of Illinois Naperville 386,838 411,832 -6.1
145 Economy Fire and Casualty Co. Warwick, R.I. 380,484 364,332 4.4
146 West American Insurance Co. Fairfield, Ohio 379,571 515,959 -26.4
147 Metropolitan Group Property and Casualty Insurance Co. Warwick, R.I. 377,987 371,940 1.6
148 Berkley Regional Insurance Co. Urbandale, Iowa 376,799 306,357 23
149 AMCO Insurance Co. Des Moines 374,750 358,879 4.4
150 Utica Mutual Insurance Co. New York 373,606 425,080 -12.1


*Assets in excess of liabilities to policyholders.
Source: Thomson Financial Insurance Solutions
© 2002 American Banker


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