NAIC 2024 Market Share Report | Top 25 U.S. P&C 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 Property & Casualty report

With 95.75% of property and casualty insurance companies reporting so far, the NAIC reports that direct premiums written for all lines of business is approximately $954,849,866,158. Turning to the top 10 property and casualty companies, their reporting thus far has shown that this group represents a cumulative market share of 48.07%.

The private passenger auto insurance marketplace continues to boast the largest amount of direct premiums, with a total amount reported as of March 4th, 2024, of about $314,788,570,644. In percentage terms, this represents approximately 33% of all written premiums.

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, 2023, reflecting an estimated 95.75% of Property/Casualty filings.

RANKCOMPANY NAMEDIRECT PREMIUMS WRITTENDIRECT PREMIUMS EARNEDMARKET SHARE %CUMULATIVE MARKET SHARE %1.STATE FARM GRP93,788,130,94788,679,559,8809.829.822.PROGRESSIVE GRP62,711,707,06059,870,842,4976.5716.393.BERKSHIRE HATHAWAY GRP59,668,420,25058,144,353,8606.2522.644.ALLSTATE INS GRP50,041,693,44848,197,229,6645.2427.885.LIBERTY MUT GRP43,532,520,97542,743,496,5864.5632.446.TRAVELERS GRP38,596,540,13236,532,033,3454.0436.487.UNITED SERV AUTOMOBILE ASSN GRP32,002,399,67730,046,228,8143.3539.838.CHUBB LTD GRP31,691,802,53830,871,545,0063.3243.159.FARMERS INS GRP27,220,677,00226,575,265,9342.8546.0010.NATIONWIDE CORP GRP19,766,498,88520,322,814,3692.0748.0711.ZURICH INS GRP18,563,082,52618,049,970,0181.9450.0212.AMERICAN FAMILY INS GRP16,664,386,48315,516,407,8201.7551.7613.HARTFORD FIRE & CAS GRP15,953,591,28615,336,033,3611.6753.4314.AMERICAN INTL GRP15,931,144,12715,807,479,6371.6755.1015.CNA INS GRP13,741,404,75213,245,106,9251.4456.5416.AUTO OWNERS GRP13,108,452,21211,981,803,3651.3757.9117.TOKIO MARINE HOLDINGS INC GRP11,917,448,19911,632,909,3411.2559.1618.FAIRFAX FIN GRP11,346,543,55011,199,075,8631.1960.3519.ERIE INS GRP10,056,483,5429,276,793,0761.0561.4020.WR BERKLEY CORP GRP10,049,013,9839,554,864,3921.0562.4621.AMERICAN FINANCIAL GRP9,174,480,8858,992,694,1130.9663.4222.MARKEL CORP GRP8,789,377,7868,404,641,6160.9264.3423.AXA INS GRP7,721,688,7727,643,863,0120.8165.1524.QBE INS GRP7,559,558,1877,515,818,0950.7965.9425.CINCINNATI FIN GRP7,455,996,0347,093,752,6560.7866.72INDUSTRY TOTAL954,849,866,158914,478,241,265100.00100.00

Links to our 2023 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: