NAIC 2024 Market Share Report | Top 25 Commercial Auto Insurers

Progressive Tops The List As The Largest Commercial Auto Insurer In The Land

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 Commercial 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 $960,802,932,489 and for Direct Premiums Earned $920,418,549,112.

As for the Commercial Auto Insurance marketplace, the industry total of Direct Written Premiums for this line of insurance was $61,567,165,152. The top 25 insurers in this line of business had a combined total of Direct Premiums Earned of $42,846,858,220, representing a combined market share of 66.93%.

Sitting atop this year’s list is Progressive Insurance, claiming a 15.18% share of the market based on Direct Premiums Written totalling $9,716,926,679 and $9,554,317,571 in Direct Premiums Earned. Two New England insurers follow directly after Progressive, with Travelers ranked the second largest followed by Liberty Mutual in third place. Later down the list, Connecticut-based The Hartford comes in as the 12th largest Commercial Auto insurer.

The Top 25 P&C Insurers by Countrywide Premium – Commercial 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.

RANK
COMPANY NAMEDIRECT PREMIUMS WRITTENDIRECT PREMIUMS EARNEDMARKET SHARE %CUMULATIVE MARKET SHARE %1.PROGRESSIVE GRP9,716,926,6799,554,317,57115.1815.182.TRAVELERS GRP3,441,405,3423,305,589,4575.3820.553.LIBERTY MUT GRP2,716,060,0832,552,748,7104.2424.804.OLD REPUBLIC GRP2,502,163,2092,347,318,723.9128.715.ZURICH INS GRP2,099,052,9571,995,924,8783.2831.996.BERKSHIRE HATHAWAY GRP1,951,535,1361,804,053,3393.0535.037.AUTO OWNERS GRP1,843,846,5071,716,764,3662.8837.918.STATE FARM GRP1,674,411,2991,415,340,4242.6240.539.WR BERKLEY CORP GRP1,362,619,3051,292,128,6332.1342.6610.NATIONWIDE CORP GRP1,241,900,1911,490,307,5631.9444.6011.CHUBB LTD GRP1,240,452,0551,217,410,4011.9446.5412.HARTFORD FIRE & CAS GRP1,203,621,7631,131,536,6321.8848.4213.AMERICAN INTL GRP1,144,879,2281,068,764,8641.7950.2014.AMERICAN FINANCIAL GRP1,045,676,1411,029,336,1211.6351.8415.SELECTIVE INS GRP1,010,638,687947,400,3311.5853.4216.FAIRFAX FIN GRP1,009,721,645955,608,7881.5854.9917.TOKIO MARINE HOLDINGS INC GRP975,559,001935,654,7731.5256.5218.SENTRY INS GRP931,455,489900,939,3821.4657.9719.ERIE INS GRP891,287,991839,340,8351.3959.3720.CINCINNATI FIN GRP877,527,624860,425,1701.3760.7421.CNA INS GRP874,464,464794,928,7861.3762.1022.ALLSTATE INS GRP842,197,327909,239,0141.3263.4223.ACUITY A MUT INS CO810,563,816769,757,4011.2764.6824.FEDERATED MUT GRP733,644,000700,129,0791.1565.8325.ARCH INS GRP705,248,281651,287,2951.1066.93INDUSTRY TOTAL64,015,981,21761,567,165,152100.00100.00

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: