lists UPCLOSE: Property and casualty companies

All but one insurer on this year's top list of property and casualty companies increased their direct premiums written last year.

Farmer's Fire Insurance Co., York, was the only company that had a drop in direct premiums written in 2001 compared with 2000.

The Business Journal ranked the

Eastern Alliance Insurance Co., Lancaster, had the largest increase in direct premiums written. Eastern, listed as Educators Alliance Insurance Co. last year, had 75.6 percent more in 2001 than in 2000. The second-highest increase in direct premiums written was Lincoln General Insurance Co.'s. The York-based company had a 59.4 percent increase. Both companies increased the number of their employees, too.

A newcomer to the list, Peerless Insurance Co., based in New Hampshire but with local operations in Camp Hill, ranked first on the list, with $463.6 million in direct premiums written. Last year's number-one company, Penn National Insurance, Harrisburg, ranked second, with $436.3 million in direct premiums written.

In terms of net income, six of the 12 companies appearing on the list showed losses in 2001. PMSLIC, Lower Paxton Township, which provides professional liability insurance to physicians, had the biggest loss, at $5 million.

Eight of the 12 companies, including PMSLIC, received an "A" or an "Aminus" financial rating from A.M. Best Co.

Some companies that appeared on the list last year are not on this year's list.

Merchants and Business Men's Mutual Insurance Co., Harrisburg, last year became part of Peerless Insurance Co. Peerless also assumed the Pennsylvania book of One Beacon Insurance, Camp Hill, effective Nov. 1.

PHICO Insurance Co., formerly in Silver Spring Township, is no longer in business. The former medical-malpractice insurer, which the state Insurance Department took over in August because of its financial troubles, became insolvent last year.