Top 25 U.S. Private Passenger Auto Insurers | NAIC 2022 Market Share Report
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). The following is a chart using data from the NAIC which shows the Market Share by Line of Business of the top seven lines of insurance in the U.S..
Key Points From This Year’s Report
As of March 20, 2023, direct premiums written for all lines of business are $869,982,560,322.
The Top 10 property and casualty companies reporting so far have a cumulative market share of 47.89%.
Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 1, 2023, at $178,365,401,539, which is about 29% of all written premiums.
Progressive Insurance Overtakes Berkshire Hathaway As Second-Largest Auto Insurer
With approximately 97.92% of all filings having been submitted to the NAIC as of March 20, 2023, the total amount of Direct Written Premium for the U.S. insurance industry, All Lines, was $869,982,560,322.
Sitting atop the seven major lines of insurance featured in the NAIC Market Share Report is the Private Passenger Auto insurance marketplace, with a total amount of Direct Written Premiums last year of $277,035,816,966 as of March 20, 2023.
Total Direct Premiums Earned was $270,260,624,049.
Both totals saw an increase from the previous year numbers which were $260,779,893,088 and $2257,660,063,509, respectively.
Based on these figures, the U.S. Private Passenger insurance marketplace ranks as the largest line of insurance in the U.S.
Of note this year, Progressive has overtaken Berkshire Hathaway to rank as the second-largest private passenger auto insurer in the nation with a 14.05% market share versus Berkshire Hathaway’s 13.77%.
There are currently three Massachusetts-based insurers on the top 25 U.S. auto insurers list: Liberty Mutual (6), The Hanover (20), and MAPFRE (21).
The Hanover has increased its market share over the past year to move from the 19th to the 20th spot. Both Liberty Mutual and MAPFRE’s rankings remain unchanged.
In terms of market share, the top 25 insurers dominate the private passenger auto insurance marketplace with a cumulative market share of 88.74%.
The Top 10 insurers dominate this marketplace with a 76.97% cumulative market share.
The top three largest auto insurers, State Farm, Berkshire Hathaway, and Progressive, have just under half of the total market with a combined market share of 44.06%, while the top five auto insurers dominate with a combined 61.27% market share.
Market Share by Line of Business
The Top 25 Private Passenger Auto Insurers in the U.S.
RANKCOMPANY NAMEDIRECT PREMIUMS WRITTEN ($)DIRECT PREMIUMS EARNED ($)DIRECT LOSS TO EP RATIOMARKET SHARE (%)CUMULATIVE MARKET SHARE (%)1. 
Links to our 2023 NAIC Market Share Reports
Links to our 2022 NAIC Market Share Reports
