1. Lloyd's of London(1)

2. Aviva

3. Royal & SunAlliance Group

4. Zurich Financial Services(2)(9)

5. AXA(3)

6. Direct Line / UK Insurance (Royal Bank of Scotland)(4)

7. Allianz(5)

8. Churchill/ NIG (Credit Suisse)(6)

9. AIG(9)

10. National Farmers Union

11. Groupama

12. Co-operative Wholesale Society

13. XL Capital(7)

14. Fortis NV

15. Lloyds TSB Group

16. QBE Insurance Group

17. The St Paul Companies(8)

18. Munich Re

19. GE Insurance

20. Legal & General

21. Swiss Re

22. Liverpool Victoria Friendly Society

23. Provident Financial Group

24. Ansvar/Ecclesiastical/URC (Allchurches)

25. Aon Corporation(9)

26. HBOS(10)(11)

27. FM Global

28. BNP Paribas

29. La Mutuelle Du Mans

30. Loews Corporation(12)

31. Hiscox

32. HSBC Holdings

33. Trenwick Group

34. Aioi Insurance(13)

35. Domestic & General Insurance

36. The Underwriter Holdings Company

37. HFC Bank

38. Liberty Mutual Insurance Company

39. Ockham Holdings

40. Nordea Group

41. Markel Corporation

42. Folgate Insurance(14)

43. Sompo Japan Insurance Company of Europe(15)

44. Sterling Insurance Group(16)

45. Tokio Marine & Fire Insurance Company

46. Centrica

47. Berkshire Hathaway

48. AFC

49. ICI

50. Granada Group

Main notes:
The list is ranked according to gross premiums written less treaty business and is based on companies that were writing business as at 31 December 2001. We have excluded companies from our list that are considered to write 100% reinsurance.

1) All figures provided by Lloyd's that have been marked with * are based on the pro forma annual accounting result, all figures marked with ** are market aggregate figures as per 'Security underlying policies issued at Lloyd's' - Global Results 2001.

2) Eagle Star Insurance was placed into run-off with effect from 1 January 2002.

3) AXA Art Insurance changed its name from AXA Nordstern Art Insurance in October 2001.

4) From 1 January 2001, all new and renewal business of Privilege Insurance Company was underwritten by other companies within the Royal Bank of Scotland Group.

5) Euler & Hermes International changed its name from Euler International in April 2001.

6) With effect from August 2001, Churchill took over the administration and underwriting of Pearl Assurance plc's existing general insurance policies. In November 2001 Prudential Assurance Co sold its general insurance arm to Churchill. For this reason, Pearl Assurance and Prudential Assurance Company are no longer included in our list.

7) In July 2001, Xl Winterthur International was purchased by XL Capital from Credit Suisse Group and its name was subsequently changed from Winterthur International.

8) During 2001 St Paul International changed its year-end from September to December, therefore the figures presented in our report relate to the 15-month period from 30 September 2000 to 31 December 2001.

9) Due to the branch status of the company the rating indicated is that of the parent company.

10) During 2001 St. Andrews changed its year-end from February to December, therefore the figures presented in our report relate to the ten-month period from 28 February 2001 to 31 December 2001.

11) Growth in GPW, NPW and ASF along with the pre-tax profit to average ASF ratio, have been shown as not meaningful for the HBOS Group due to its new company esure only having one year of figures. Esure commenced trading on 3 January 2001.

12) CNA Insurance changed its name from Maritime Insurance Co in February 2002.

13) Aioi Insurance Co changed its name from Chiyoda Fire & Marine Insurance Co (Europe) in April 2001.

14) In November 2001 an agreement was made for the sale of the company to Folgate Partnership. Following the acquisition the company was put into run-off in July 2002.

15) Sompo Insurance Company of Europe changed its name from Yasuda Kasai Fire & Marine Co in June 2002, following the merger of its parent company with Nissan Fire & Marine Co.

16) Sterling Insurance Co changed its name from Albion Insurance in June 2001.