Property/casualty insurers have started to broadcast the fact that they earned spots on Ward’s list of 50 top-performing insurance companies for 2026, but only one was named for 36 straight years—RLI Corp.

In addition, there were four newcomers to the elite list: Chesapeake Employers Insurance Company, a Maryland-based workers compensation specialist; Crum & Forster Insurance, a more than 200-year-old diversified P/C, A&H and specialty commercial writer; Indemnity National Insurance Company, a specialty company providing customized surety and casualty insurance to underserved markets; and NCMIC Insurance Company, a provider of medical malpractice insurance for chiropractors.

Ward, which provides benchmarking and best practices studies for the insurance industry, annually analyzes the financial performance for P/C and life insurers by reviewing five-year average measures of growth and profit, compiling lists of the top 50 carriers in each segment since 1991.

According to Ward, a unit of Aon, the 50 P/C top performers for 2026 produced a 13.1 % statutory return on average equity from 2021 to 2025, compared to 8.6% for the P/C industry overall.

In addition, the Top 50 had a five-year average combined ratio that was 5.6 points better than the industry average.

The longest standing honoree, RLI, reported its 30th straight year of underwriting profit in 2025, translating to a combined ratio of 83.6.

RLI Corp. President and CEO Craig Kliethermes, commenting on the 36th Ward’s 50 recognition this week said it “reflects the consistency of our performance, the disciplined execution of our long-term strategy and the confidence our distribution partners and policyholders place in our company.”

In February, AM Best upgraded the specialty insurer’s financial strength rating to Best’s highest level—A++.

Related articles: RLI Inks 30th Straight Full-Year Underwriting Profit; RLI Now Has ‘A++’ Rating from AM Best

Also announcing a long-term position on Ward’s list, ICW Group Insurance Companies noted its 12th consecutive year on the list—and 20th appearance overall—in a media statement.

“This recognition reflects the disciplined execution of our long-term sustainable growth strategy and the strength of our organization,” said Kevin Prior, CEO of ICW Group, in the statement. “As we continue to expand our capabilities and invest in the future of our business, we remain focused on delivering consistent value for our trading partners and clients while maintaining the financial strength they depend on.”

While other insurers have yet to publish statements announcing their appearance on the 2026 list, by Carrier Management’s count, roughly 60%, or 30 of the 50, have been on the Ward’s 50 list in each of the last seven years (2020-2026).

ACUITY, appearing at the top of the list presented in alphabetical order, is also one of the insurers with a long history of appearances on the list. ACUITY has been on the list for 27 straight years.

Comparing this year’s list available on the Ward’s website, with two prior lists that are also still available for viewing, also reveals that 88% of the 2026 Ward’s 50 P/C carriers (44 out of 50) have been on the list for at least three consecutive years.

Making room for four new honorees, these insurers dropped off the list: Builders Mutual Insurance company, Hanover Insurance Company (new to the list in 2025), Pinnacol Assurance and Safety Insurance Group.

The complete 50-member list, published alphabetically on Ward’s website, is derived by analyzing the financial results of nearly 2,900 P/C carriers using metrics such as:

• Five-Year Average Return on Average Equity
• Five-Year Average Return on Average Assets
• Five-Year Average Return on Total Revenue
• Five-Year Growth in Revenue
• Five-Year Growth in Surplus
• Five-Year Average Combined Ratio

In addition to their stellar combined ratios and ROE results, Ward reported that in comparing the Top 50 cohort to the industry, the benchmarking firm found:

• The Top 50 grew policyholder surplus by 19.9% compared to 17.6% percent for the industry for the five-year period since 2021.
• Net premiums written for the Ward’s 50 P/C group grew 43.8% compared to the industry’s 35.5% growth.

In order to be eligible for the list, before companies are even evaluated on the various financial metrics, carriers must pass minimum safety and consistency thresholds, including:

• Surplus and premiums of at least $50 million for each of the five years analyzed
• Net income in at least four of the last five years
• Compound annual growth in premiums between -10% and 40%.