NAMIC Report Highlights Growing Commercial Demand for Mutual Insurance

The National Association of Mutual Insurance Companies (NAMIC) has released the eighth edition of its annual Mutual Factor report, in partnership with Aon, revealing an increased preference for mutual insurance companies among commercial insurance buyers. The 2025 report highlights the sustained financial strength of mutual insurers, with notable improvements in combined ratios and narrowing gaps between personal and commercial insurance lines. A recent survey indicates that 81% of commercial buyers hold a favorable view of mutual insurers, with 93% likely to consider them for future commercial insurance purchases, surpassing stock companies by nine percentage points. Financial metrics show a nine-point improvement in mutual insurers' combined ratios in 2024, reflecting enhanced operational performance amid market challenges. The Mutual Factor report underscores the appeal of mutual insurers' stability, a factor that resonates positively with consumers in uncertain economic conditions, supporting their continued market relevance. NAMIC represents over 1,300 mutual insurance companies, including several top property/casualty insurers in the U.S., collectively writing substantial premiums across homeowners, automobile, and business insurance sectors. The report and survey findings provide valuable insights for industry stakeholders about consumer perceptions, insurer performance, and market dynamics affecting mutual insurers within the broader property/casualty insurance landscape.