NAIC 2024 Market Share Report | Top 25 Private Passenger Auto Insurers

Three of the Top 25 Private Passenger Auto Insurers Are Based in Massachusetts

The National Association of Insurance Commissioners has issued its annual Market Share Data Reports for both the Property & Casualty Insurance Marketplace, as well as for the Life & Fraternal Insurance Marketplace. As in past iterations, the data offered here reflects a compiled list of market share data based upon filings of countrywide premium submitted to the NAIC from Property & Casualty insurers as reported on the State Page of the NAIC’s annual statement for insurers.

Once collected, the data is then compiled and included in various reports on cumulative market share data for the seven major lines of insurance in the United States: All lines; Private Passenger Personal Auto; Commercial Auto; Workers’ Compensation; Medical Professional Liability; Homeowners’ Multi-Peril; and Other Liability (excluding auto liability).

Key Facts From This Year’s Private Passenger Auto Insurers List:

With 98.01% of Property and Casualty insurance companies reporting so far, the NAIC reports that industry totals for Direct Premiums Written for all lines of business is approximately $960,802,932,48 and for Direct Premiums Earned $920,418,549,112.

With respect to the Private Passenger Auto Insurance marketplace, the industry total in terms of Direct Written Premiums was $316,655,004,802 with Direct Premiums Earned totalling $303,504,595,689. As for the Top 25 insurers, Direct Written Premiums totalled $280,385,491,129 translating into a cumulative market share representing of 88.55%.

Breaking down this cohort even further, the Top 10 insurers with the largest amounts of Direct Premiums Written wrote a total of $280,385,491,129 claiming a cumulative share of the market of 76.81%. The Top Five had a total of $197,891,991,369 in Direct Premiums Written representing approximately 62.49% of the total market.

The Top 25 P&C Insurers by Countrywide Premium – Private Passenger Auto

Please note the following data is updated on a weekly basis by the NAIC through the month of March. The updated data here reflects the latest data as of March 18, 2024, reflecting an estimated 98.01% of Property/Casualty filings.

RANKCOMPANY NAMEDIRECT PREMIUMS WRITTENDIRECT PREMIUMS EARNEDMARKET SHARE %CUMULATIVE MARKET SHARE %1.STATE FARM GRP57,974,270,31354,812,500,32618.3118.312.PROGRESSIVE GR48,255,874,74445,888,459,48215.2433.553.BERKSHIRE HATHAWAY GRP38,965,761,60838,383,695,98612.3145.854.ALLSTATE INS GRP32,848,168,90631,863,541,99910.3756.235.UNITED SERV AUTOMOBILE ASSN GRP19,847,915,79818,829,720,8716.2762.496.LIBERTY MUT GRP13,312,836,21113,397,699,7484.2066.707.FARMERS INS GRP13,221,687,47813,012,949,5384.1870.878.AMERICAN FAMILY INS GRP6,790,422,6206,472,156,3232.1473.029.TRAVELERS GRP6,578,946,2026,224,210,5742.0875.1010.NATIONWIDE CORP GRP5,413,758,2725,476,444,5561.7176.8111.AUTO CLUB ENTERPRISES INS GRP4,829,407,5954,418,149,5561.5378.3312.AUTO OWNERS GRP4,250,282,9273,844,453,2371.3479.6713.ERIE INS GRP4,240,246,1993,894,226,4241.3481.0114.CSAA INS GRP3,817,542,8923,394,492,5911.2182.2215.KEMPER CORP GRP2,950,213,3923,179,247,8420.9383.1516.MERCURY GEN GRP2,819,068,6322,777,229,6820.8984.0417.AUTOMOBILE CLUB MI GRP2,256,739,0422,150,770,8770.7184.7518.HARTFORD FIRE & CAS GRP2,126,384,7012,060,826,7980.6785.4219.SENTRY INS GRP1,561,955,4151,493,411,1280.4985.9220.THE HANOVER INS GRP1,443,149,1441,403,302,8260.4686.3721.MAPFRE INS GRP1,402,535,7961,340,757,6620.4486.8222.ALFA INS GRP1,387,691,2101,304,874,3450.4487.2523.AMICA MUT GRP1,383,042,1281,325,196,1130.4487.6924.COUNTRY INS & FIN SERV GRP1,369,040,2021,319,947,2460.4388.1225.SOUTHERN FARM BUREAU CAS GRP1,338,549,7021,279,119,5710.4288.55INDUSTRY TOTAL316,655,004,802303,504,595,689100.00100.00

Links to our 2024 NAIC Market Share Reports

For those interested in revisiting or comparing this year’s data with the NAIC Market Share Reports from last year, links to each of those reports are below: