NAIC — 2023’s 10 Top Carriers All Lines

The National Association of Insurance Commissioners (NAIC) just released its report on the top insurance companies in the country. This is all lines and not just commercial, or personal lines, etc.

The report is cumulative data from filings for commercial auto, personal auto, homeowners, workers’ comp, medical professional liability, and other liability insurance companies. Only auto liability is left off.

The top 10 carriers have a total marketshare of 48.07%. In total, they wrote $960,802,932,489 in direct premiums in 2023. Passenger auto providers wrote 33% of all the written premiums. That total is $314,788,570,644.

Here are the top 10 insurers in the country and their statistics.

1. State Farm

Direct premiums written: $93,788,130,947

Direct premiums earned: $88,679,559,880

Direct loss to EP ratio: 82.85

Direct loss & DCC to EP ratio: 85.79

Market share: 9.76%

Cumulative market share: 9.76%

2. Progressive

Direct premiums written: $62,711,707,060

Direct premiums earned: $59,870,842,497

Direct loss to EP ratio: 68.41

Direct loss & DCC to EP ratio: 70.45

Market share: 6.53%

Cumulative market share: 16.29%

3. Berkshire Hathaway

Direct premiums written: $59,668,420,250

Direct premiums earned: $58,144,353,860

Direct loss to EP ratio: 66.50

Direct loss & DCC to EP ratio: 69.78

Market share: 6.21%

Cumulative market share: 22.50%

4. Allstate

Direct premiums written: $50,041,693,448

Direct premiums earned: $48,197,229,664

Direct loss to EP ratio: 73.12

Direct loss & DCC to EP ratio: 75.16

Market share: 5.21%

Cumulative market share: 27.71%

5. Liberty Mutual

Direct premiums written: $45,794,527,660

Direct premiums earned: $45,264,052,658

Direct loss to EP ratio: 64.89

Direct loss & DCC to EP ratio: 68.89

Market share: 4.77%

Cumulative market share: 32.47%

6. Travelers Insurance

Direct premiums written: $38,596,540,132

Direct premiums earned: $36,532,033,345

Direct loss to EP ratio: 58.95

Direct loss & DCC to EP ratio: 63.26

Market share: 4.02%

Cumulative market share: 36.49%

7. USAA

Direct premiums written: $32,002,399,677

Direct premiums earned: $30,046,228,814

Direct loss to EP ratio: 76.56

Direct loss & DCC to EP ratio: 77.64

Market share: 3.33%

Cumulative market share: 39.82%

8. Chubb

Direct premiums written: $31,691,802,538

Direct premiums earned: $30,871,545,006

Direct loss to EP ratio: 58.70

Direct loss & DCC to EP ratio: 63.29

Market share: 3.30%

Cumulative market share: 43.12%

9. Farmers

Direct premiums written: $27,220,677,002

Direct premiums earned: $26,575,265,934

Direct loss to EP ratio: 64.77

Direct loss & DCC to EP ratio: 66.02

Market share: 2.83%

Cumulative market share: 45.95%

10. Nationwide

Direct premiums written: $19,766,498,885

Direct premiums earned: $20,322,814,369

Direct loss to EP ratio: 69.92

Direct loss & DCC to EP ratio: 74.08

Market share: 2.06%

Cumulative market share: 48.01%

Source link: PropertyCasualty360.com — https://bit.ly/3xr9j5v