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FIO Annual Report 2 — The 10-Largest P&C & Personal Lines Insurers

Posted By PIA Western Alliance, Tuesday, September 30, 2014

The Federal Insurance Offices FIO 2013 Annual Report is out. The report is part of the requirements of the Dodd-Frank Act. Each year the FIO is charged with giving a summary of the state of the insurance industry.

 

Part of the report measures insurers in the categories of property and casualty and personal lines, and from the biggest to the smallest. The data comes from SNL Financial and is incorporated into the FIO report.

State Farm is again the nations biggest insurer and it holds 10.29% of the nations insureds. Thats up from 2012s share of 10.24%.

Liberty Mutual is second but its a distant second with 5.31%. Allstate is third at 5.07%. Both firms sit where they sat in the 2013 survey.

Making the most improvement is Berkshire Hathaway. It leaped two spots to rank fourth with a 4.26% market share. The Warren Buffet led company also became the largest non-captive insurer as well.

Here’s the top-10 overall:

1. State Farm Mutual Automobile Insurance Company

  Market Share: 10.29%

  DPW ($000): $55,994,246

2. Liberty Mutual Insurance

  Market Share: 5.31%

  DPW: $28,906,283

3. Allstate Corp

  Market Share: 5.07%

  DPW: $27,583,581

4. Berkshire Hathaway Inc.

  Market Share: 4.26%

  DPW: $23,169,106

5. Travelers Companies Inc.

  Market Share: 4.20%

  DPW: $22,842,941

6. Farmers Insurance Group of Companies

  Market Share: 3.36%

  DPW: $18,284,148

7. Nationwide Mutual Group

  Market Share: 3.32%

  DPW: $18,079,537

8. American International Group

  Market Share: 3.27%

  DPW: $17,802,678

9. Progressive Corp.

  Market Share: 3.23%

  DPW: $17,562,610

10. USAA Insurance Group

  Market Share: 2.67%

  DPW: $14,562,012

 

Overall, the top-10 insurers lost market share as a group in 2013. It fell slightly to 44.97% from 45.88%. Direct written premiums however increased by a whopping $4 billion.

The report also separates lines of business and breaks down the top P&C and personal lines insurers. When that is done the list alters radically.

2013’s top commercial insurers:

1. American International Group

2. Travelers Companies Inc.

3. Liberty Mutual Insurance

4. Zurich Insurance group

5. ACE Ltd.

6. CNA Financial Corp.

7. Hartford Financial Services

8. Chubb Corp.

9. Nationwide Mutual Group

10. American Financial Group Inc.

2013s top personal lines insurers:

1. State Farm Automobile Insurance Company

2. Allstate Corp.

3. Berkshire Hathaway Inc.

4. Progressive Corp.

5. Farmers Insurance Group of Companies

6. Liberty Mutual Insurance

7. USAA Insurance Group

8. Nationwide Mutual Group

9. Travelers Companies Inc.

10. American Family Mutual


 

Source: Insurance Business America

Tags:  10-Largest P&C & Personal Lines Insurers  FIO Annual Report  Weekly Industry News 

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