NAIC Lists the Nation’s Largest P&C Insurers — Part 2
Last week Weekly Industry News did a story on the National Association of Insurance Commissioner’s (NAIC) list of the largest property and casualty insurers in the United States.
The top-10 insurers from figures listed in 2021 are:
1. State Farm 2. Berkshire Hathaway 3. Progressive 4.Allstate 5. Liberty Mutual 6. Travelers 7. Chubb 8. USAA 9. Farmers Insurance 10. Nationwide
The NAIC broke down the figures on how the top-25 insurers did each state. It then listed the top-5 property-casualty insurers. Here are the figures for each of the nine PIA Western Alliance states:
Alaska 1. State Farm Direct written premiums: $254 million Market share: 14.8% 2. USAA Direct written premiums: $148 million Market share: 8.7% 3. Berkshire Hathaway Direct written premiums: $136 million Market share: 7.9% 4. Liberty Mutual Direct written premiums: $131 million Market share: 7.7% 5. Allstate Direct written premiums: $103 million Market share: 6.0%
Arizona 1. State Farm Direct written premiums: $1.3 billion Market share: 9.4% 2. Berkshire Hathaway Direct written premiums: $1.2 billion Market share: 8.4% 3. Progressive Direct written premiums: $1.0 billion Market share: 7.4% 4. Farmers Direct written premiums: $912 million Market share: 6.5% 5. Liberty Mutual Direct written premiums: $836 million Market share: 5.9%
California 1. State Farm Direct written premiums: $7.1 billion Market share: 7.3% 2. Farmers Direct written premiums: $6.7 billion Market share: 6.9% 3. Berkshire Hathaway Direct written premiums: $6.5 billion Market share: 6.8% 4. Allstate Direct written premiums: $4.6. billion Market share: 4.7% 5. Liberty Mutual Direct written premiums: $3.9 billion Market share: 4.1%
Idaho 1. Liberty Mutual Direct written premiums: $373 million Market share: 9.7% 2. State Farm Direct written premiums: $281 million Market share: 7.3% 3.Farm Bureau Direct written premiums: $270 million Market share: 7.0% 4. Idaho State Insurance Fund Direct written premiums: $261 million Market share: 6.8% 5. Progressive Direct written premiums: $192 million Market share: 5.0%
Montana 1. State Farm Direct written premiums: $337 million Market share: 11.0% 2. Liberty Mutual Direct written premiums: $291 million Market share: 9.5% 3. Progressive Direct written premiums: $186 million Market share: 6.1% 4. Travelers Direct written premiums: $170 million Market share: 5.5% 5. Montana State Fund Direct written premiums: $161 million Market share: 5.4%
Nevada 1. State Farm Direct written premiums: $641 million Market share: 9.1% 2. Berkshire Hathaway Direct written premiums: $630 million Market share: 8.9% 3. Progressive Direct written premiums: $587 million Market share: 8.3% 4. Farmers Direct written premiums: $458 million Market share: 6.5% 5. Allstate Direct written premiums: $431 million Market share: 6.1%
New Mexico 1. State Farm Direct written premiums: $470 million Market share: 11.6% 2. Progressive Direct written premiums: $338 million Market share: 8.4% 3. Farmers Direct written premiums: $318 million Market share: 7.9% 4. Berkshire Hathaway Direct written premiums: $260 million Market share: 6.4% 5. Liberty Mutual Direct written premiums: $244 million Market share: 6.0%
Oregon 1. State Farm Direct written premiums: $947 million Market share: 11.1% 2. Liberty Mutual Direct written premiums: $744 million Market share: 9.1% 3. Progressive Direct written premiums: $632 million Market share: 7.4% 4. Farmers Direct written premiums: $587 million Market share: 6.8% 5. State Accident Insurance Fund (SAIF) Direct written premiums: $521 million Market share: 6.1%
Washington 1. Washington State Fund Direct written premiums: $1.6 billion Market share: 9.6% 2. Liberty Mutual Direct written premiums: $1.5 billion Market share: 9.0% 3. Progressive Direct written premiums: $1.4 billion Market share: 8.5% 4. State Farm Direct written premiums: $1.0 billion Market share: 6.0% 5. Allstate Direct written premiums: $958 million Market share: 5.8%
The NAIC report said, nationally, P&C insurers wrote over $797 billion in premiums in 2021. That’s 9.5% higher than 2020. The figure released for earned premiums is $767 billion and that’s an increase of 7.5% over 2020.
At 47% close to half were written by the top-10 largest insurers. The top-25 wrote 2/3 of the business written in the United States. Direct written premiums (DWP) written by the top-25 totaled $517 billion.
Earnings were $488 billion.
These are the top-25 P&C insurers in the U.S.:
These are the top 25 property and casualty insurance providers in the country, according to NAIC’s 2022 market share report.
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
The NAIC said these figures are the DWP of the top-25 insurers:
Source link: Insurance Business America — https://bit.ly/3g1DCal |
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