NAIC 2022 Market Share Report | Top 25 U.S. Homeowners Multiple Peril Insurers

The Homeowners marketplace is the third-largest line of insurance in the U.S.

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 the past, 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.

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).

Musings on this year’s Market Share Report

With approximately 98.54% of all filings having been submitted to the NAIC as of March 21, 2022, the total amount of Direct Written Premium for the U.S. insurance industry, All Lines, was $793,719,555,911. Turning to the Homeowners Multiple Peril segment of the marketplace, the total amount of Direct Written Premiums for this line of insurance was $119,221,141,625. This represents an increase of $8,873,165,702 from the 2020 year-end total of $110,347,975,923.

According to these figures, the U.S. Homeowners insurance marketplace continues as the third largest line of insurance in the U.S. after the Private Passenger Auto Insurance marketplace and the All Other Lines marketplace, respectively.

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Looking at market share numbers, the top ten Homeowners’ insurers continue to dominate the marketplace with a combined market share of 63.19%. This is a 2.67% increase from last year’s percentage. The top three Homeowners insurers also increased their combined market share to 34% versus the 32.70% they had last year. In total, the top 25 have a combined market share of 77.32%, another increase in market share from last year’s 74.92% percentage.

Market Share by Line of Business

A chart ranking the seven major lines of insurance by market share from data collected by the NAIC. The following is the total Direct Written Premium for each of these lines as of March 21, 2022.

The Top 25 Homeowners Multiple Peril Insurers in the U.S.

RANKCOMPANY NAMEDIRECT PREMIUMS WRITTEN ($)DIRECT PREMIUMS EARNED ($) DIRECT LOSS TO EP RATIO MARKET SHARE (%) CUMULATIVE MARKET SHARE (%) 1.State Farm Group22,046,155,08520,761,970,11268.6818.4918.49Insurance News Massachusetts and US Market Share2.Allstate Ins. Group10,500,629,92210,040,258,77573.368.8127.30Top P&C Insurers US3.USAA Group7,988,445,3827,642,958,07273.216.7034.00Top Insurer in the US, Insurance News Massachusetts and US Market Share4.Liberty Mutual7,678,693,9937,265,362,05066.026.4440.44Insurance News Massachusetts and US Market Share5.Farmers Insurance Group7,608,035,4017,340,272,06870.956.3846.82Agency Checklists, MA Insurance News, Mass. Insurance News, Travelers6.Travelers Group5,557,121,3505,176,973,71965.874.6651.48Insurance News Massachusetts and US Market Share7.American Family Ins. Group5,003,013,4744,696,408,68362.394.2055.68Agency Checklists, MA Insurance News, Mass. Insurance News8.Nationwide Corp. Group3,522,394,3663,414,500,89072.512.9558.63Agency Checklists, MA Insurance News, Mass. Insurance News, Chubb, Mass. insurance companies9.Chubb Ltd. Group3,210,874,3763,139,077,29261.242.6961.33Insurance News Massachusetts and US Market Share10.Progressive Group2,217,188,3582,053,865,59977.301.8663.19Insurance News Massachusetts and US Market Share11.Erie Ins. Group1,956,183,7601,871,993,75163.881.6464.83Insurance News Massachusetts and US Market Share12.Auto-Owners Group1,915,941,3651,863,262,11661.101.6166.44Insurance News Massachusetts and US Market Share13.Universal Ins. Holdings Group1,582,352,4281,509,768,29766.631.3367.7614.Citizens Prop. Ins. Corp.1,260,866,225985,863,48044.381.0668.8215.American Intl. Group1,067,978,6641,085,801,174-13.520.9069.72Agency Checklists, MA Insurance Gorup, Mass. Insurance Group, Tokio Marine, Tokio Marine Massachusetts16.Tokio Marine Holdings Inc.1,055,974,604930,095,30976.100.8970.60Insurance News Massachusetts and US Market Share17.CSAA Ins. Group1,053,685,3781,011,792,72461.090.8871.49Insurance News Massachusetts and US Market Share18.Heritage Ins. Holdings Group969,878,681947,573,49054.450.8172.30Insurance News Massachusetts and US Market Share19.Amica Mutual Ins. Group964,273,608953,932,82767.860.8173.11Agency Checklists, MA Insurance News, Mass. Insurance News, The Hartford, Hartford Insurance News20.Hartford Fire & Cas Group909,828,847917,918,27846.610.7673.87Auto Club Group of MI Top 25 Private Passenger Auto Insurers in US 202021.Auto Club Enterprises Ins. Group890,839,643866,550,42964.220.7574.62United Property and Casualty Company Logo for decision by the Supreme Judicial Court of Massachusetts against the company on fire coverageInsurance News Massachusetts and US Market Share22.United Ins. Holdings Group814,525,073884,807,021108.960.6875.3023.Mercury Gen. Group810,342,704736,341,31761.350.6875.98Insurance News Massachusetts and US Market Share24.Assurant Inc. Group808,551,503785,571,05844.710.6876.66Insurance News Massachusetts and US Market Share25.Country Ins. & Financial Serv. Group792,211,853768,240,75659.710.6677.32INDUSTRY TOTAL119,221,141,625113,487,593,45668.40100.00100.00

Links to our 2022 NAIC Market Share Reports

Links to our 2021 NAIC Market Share Reports

Links to our 2020 NAIC Market Share Reports:

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