According to the most recent data from the National Association of Insurance Commissioners, the top 10 property/casualty insurance companies in the US own over two-thirds of the market and issued more than $725 billion in premiums in 2020, up from $708 billion in 2019. (NAIC).
State Farm Group, with 9.12 percent of the market share and $66.1 billion in direct premiums written, has surpassed Berkshire Hathaway ($46.1 billion), the corporation that owns GEICO, to once again hold the title of largest property/casualty insurance provider in the US.
Progressive, with a market share of 5.75 percent, is in the lead among the trio, followed by Liberty Mutual, Allstate, and.
Insurance Companies In The US.
Chubb maintained position eight in the bottom ten rankings, with direct premiums issued rising from $23.3 billion in 2019 to $24 billion in 2018. By increasing its direct premiums written from $23.4 billion in 2019 to $24.6 billion in 2019, USAA Insurance Group, meanwhile, earned the seventh position.
According to direct premiums written and market share, the top 25 property/casualty insurance groups are:
1. State Farm
Direct Premiums Written: $66.1 billion
Market Share: 9.12%
2. Berkshire Hathaway
Direct Premiums Written: $46.1 billion
Market Share: 6.37%
3. Progressive Group
Direct Premiums Written: $41.7 billion
Market Share: 5.75%
4. Liberty Mutual
Direct Premiums Written: $36.1 billion
Market Share: 4.99%
Direct Premiums Written: $34.3 billion
Market Share: 4.73%
6. Travelers Group
Direct Written Premiums: $28.7 billion
Market Share: 3.97%
Direct Written Premiums: $24.6 billion
Market Share: 3.39%
Direct Written Premiums: $24 billion
Market Share: 3.32%
9. Farmers Insurance
Direct Written Premiums: $20 billion
Market Share: 2.77%
Direct Written Premiums: $18.5 billion
Market Share: 2.55%