NAIC 2024 Market Share Report | Top 25 Homeowners Multiple Peril Insurers

Additional Market Share Reports and Updates Will Be Made During Month of March

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).

The data presented here reflects data filed by insurers as of March 4 and will be refreshed daily by the NAIC through March 8 and then each Monday throughout March.

Key takeaways from this year’s Homeowner’s Report

With 96.94% of Property and Casualty insurance companies reporting so far, the NAIC reports that direct premiums written for all lines of business is approximately $959,108,778,588.

Turning to the homeowner’s marketplace, the total amount of Direct Premium written by the top 25 P&C insurers totalled $151,953,919,633. This amount translates into an approximately 77.94% share of the total marketplace. As for the top 10 insurers within this cohort, they had a combined cumulative market share of 63.30%.

New England-based insurers making the Top 25 Homeowner’s list this year include Liberty Mutual (3), Travelers Group (6), Amica (20), The Hartford (22), and The Hanover (24).

The Top 25 P&C Insurers by Countrywide Premium – All Lines

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 04, 2024, reflecting an estimated 96.94% of Property/Casualty filings.

RANKGROUP/COMPANY NAMEDIRECT WRITTEN PREMIUMSDIRECT
PREMIUMS
EARNEDDIRECT
LOSS TO
EP RATIO¹MARKET
SHARE %CUMULATIVE
MARKET
SHARE %³1.STATE FARM GRP27,037,940,17225,705,653,72977.0817.7917.792.ALLSTATE INS GRP13,551,256,39012,722,771,13570.428.9226.713.LIBERTY MUT GRP10,476,330,09110,140,531,56068.566.8933.614.UNITED SERV AUTOMOBILE ASSN GRP10,346,045,2339,515,308,61178.226.8140.415.FARMERS INS GRP8,981,109,5778,517,212,76967.585.9146.336.TRAVELERS GRP7,569,914,2437,014,931,00869.574.9851.317.AMERICAN FAMILY INS GRP7,046,226,7366,360,233,76375.004.6455.948.NATIONWIDE CORP GRP4,077,262,1204,003,909,53280.882.6858.639.CHUBB LTD GRP3,891,675,5673,649,700,03949.492.5661.1910.CITIZENS PROP INS CORP3,208,944,5682,770,286,73439.392.1163.3011.PROGRESSIVE GRP2,952,598,3172,685,978,25351.871.9465.2412.ERIE INS GRP2,659,423,4442,415,582,11188.731.7566.9913.AUTO OWNERS GRP2,564,100,0672,326,325,01588.271.6968.6814.UNIVERSAL INS HOLDING GRP1,819,043,1141,777,150,77453.801.2069.8815.TOKIO MARINE HOLDINGS INC GRP1,404,191,2261,306,364,23281.800.9270.8016.CSAA INS GRP1,323,340,5071,248,094,67868.800.8771.6717.AUTO CLUB ENTERPRISES INS GRP1,197,117,2981,095,514,14676.210.7972.4618.CINCINNATI FIN GRP1,196,665,5601,054,892,10862.560.7973.2519.MERCURY GEN GRP1,143,868,3311,039,221,72862.980.7574.0020.AMICA MUT GRP1,134,059,0701,064,671,40558.760.7574.7521.COUNTRY INS & FIN SERV GRP1,000,969,290934,603,74296.510.6675.4122.HARTFORD FIRE & CAS GRP990,862,103959,280,72055.960.6576.0623.AUTOMOBILE CLUB MI GRP964,554,275911,945,23476.300.6376.6924.THE HANOVER INS GRP944,623,290887,536,43195.110.6277.3125.HERITAGE INS HOLDINGS GRP943,982,644961,933,90964.730.6277.94INDUSTRY TOTAL151,953,919,633142,194,800,93470.66100.00100.00

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: