NAIC Lists the Nation’s Largest P&C Insurers — Part 1
This story covers the largest property and casualty insurers in the United States as listed by the National Association of Insurance Commissioners (NAIC). Weekly Industry News will do part two of this story next week.
Part two has the NAIC listing the top property and casualty insurers in each state. We’ll explore the top-five P&C insurers in each of the nine PIA Western Alliance states.
According to the NAIC, last year the property and casualty insurers in the U.S. wrote over $797 billion in premiums. That’s a jump of 9.5% over the 2020 figures. Earned premiums hit $767 billion and increased 7.5% over 2020.
Close to half of those premiums — 47% — were written by the 10 largest insurers.
The top 25 insurers have two-thirds of the business written in the United States. Their direct written premiums (DWP) hit close to $517 billion at the end of 2020. Earnings were just over $488 billion.
These are the top lines ranked by the DWP of the insurers listed by the NAIC:
No surprise, State Farm — as has been for many years — sits on top of the heap. Here is the list:
1. State Farm Direct written premiums: $70.3 billion Market share: 8.89%
2. Berkshire Hathaway Direct written premiums: $50.7 billion Market share: 6.42%
3. Progressive Direct written premiums: $47.7 billion Market share: 6.04%
4.Allstate Direct written premiums: $41.4 billion Market share: 5.23%
5. Liberty Mutual Direct written premiums: $37.8 billion Market share: 4.78%
6. Travelers Direct written premiums: $30.8 billion Market share: 3.9%
7. Chubb Direct written premiums: $26.3 billion Market share: 3.33%
8. USAA Direct written premiums: $25.3 billion Market share: 3.19%
9. Farmers Insurance Direct written premiums: $25.0 billion Market share: 3.16%
10. Nationwide Direct written premiums: $19.4 billion Market share: 2.46%
11. Zurich 12. AIG 13. The Hartford 14. American Family Insurance 15. CNA 16. Tokio Marine 17. Auto Owners 18. Assurant 19. Fairfax Financial 20. Erie Insurance 21. W.R. Berkley 22. American Financial 23. Markel 24. AXA 25. Sompo
Source link: Insurance Business America — https://bit.ly/3g1DCal |
