Even though growth seems hard to come by for property/casualty insurers, five made the top 25 of Fortune’s 100 fastest growing companies published late last month.

One of the five—Federated National Holdings–is in fact ranked No. 3 on Fortune’s list, right behind a generic drug maker pharmaceutical company (Lannett) and a marketer of beauty and nutritional supplements (Natural Health Trends).

Like Federated National Holdings (formerly known as 21st Century Holding Company), four of five P/C insurers among Fortune’s top growers are primarily Florida homeowners insurers.The other is AmTrust Financial Services, a specialty commercial insurer.

While Federated National Holdings beat out managed care, pharmaceutical and technology companies—including Facebook—which came in at No. 10, the other P/C insurance companies that Carrier Management spotted on the Fortune list ranked between 26th and 45th place.

• Universal Insurance Holdings, No. 26.
• AmTrust Financial Services, No. 27.
• HCI Group, No. 31 (ranked No. 2 last year).
• UPC Insurance, No. 45.

How did they make the list?

According to Fortune, companies that meet certain criteria are ranked by three measures of growth: revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 30, 2015.

Federated National, for example, had a three-year EPS growth rate of 112 percent, the 11th highest EPS growth rate among the top 100, according to Fortune’s calculations. Universal Insurance had a three-year annualized total return of 103 percent—the fourth best figure, the Fortune ranking says. And AmTrust’s three-year revenue growth rate of 46 percent—the 15th best revenue spurt among the Top 100 according to Fortune’s calcuations.

To qualify, a domestic or foreign company must be trading on a major U.S. stock exchange—and have been trading continuously since June 30, 2012. The company also must report data in U.S. dollars, file quarterly reports with the Securities and Exchange Commission; and have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2015.

The companies also must have posted an annualized growth in revenue and earnings per share of at least 15 percent annually over the three years ended on or before April 30, 2015.

Other criteria specify that time periods over which the companies must have revenue and net income, as well as minimum amounts.

Source: Fortune 100 Fastest Growing Companies