The 10 largest P/C commercial and personal lines insurers

The 10 largest P/C commercial and personal lines insurers | Insurance Business

The 10 largest P/C commercial and personal lines insurers
State Farm Mutual Insurance Company is once again the nation’s largest insurer of property/casualty risks, says the Federal Insurance Office.

According to data in the FIO’s 2014 Annual Report, State Farm claims 10.29% of total market share in the US. That’s an increase from last year’s 10.24% of market share for the insurance juggernaut.

Liberty Mutual made a distant second, also retaining its position from the previous year, with 5.31% of market share. Allstate rounded out the top three with 5.07% in market share.

Berkshire Hathaway was the real standout, jumping two spots to the fourth-largest P/C insurance group and the largest non-captive insurer.

Overall, the five largest P/C insurance groups in 2013 were:

1. State Farm Mutual Automobile Insurance Company
Market Share: 10.29%
DPW ($000): $55,994,246

2. Liberty Mutual Insurance
Market Share: 5.31%
DPW: $28,906,283

3. Allstate Corp.
Market Share: 5.07%
DPW: $27,583,581

4. Berkshire Hathaway Inc.
Market Share: 4.26%
DPW: $23,169,106

5. Travelers Companies Inc.
Market Share: 4.20%
DPW: $22,842,941

6. Farmers Insurance Group of Companies
Market Share: 3.36%
DPW: $18,284,148
7. Nationwide Mutual Group
Market Share: 3.32%
DPW: $18,079,537
8. American International Group
Market Share: 3.27%
DPW: $17,802,678

9. Progressive Corp.
Market Share: 3.23%
DPW: $17,562,610

10. USAA Insurance Group
Market Share: 2.67%
DPW: $14,562,012

The hold on market share among the top 10 decreased slightly in 2013, falling to 44.97% from 45.88%. However, direct premiums written increased by more than $4 billion among these carriers.

The rankings were taken from SNL Financial and included in the report as part of its overview of the financial condition of the market. The FIO also organized the rankings by commercial and personal lines insurers.

Top P/C commercial lines writers in 2013 were:

1. American International Group
2. Travelers Companies Inc.
3. Liberty Mutual Insurance
4. Zurich Insurance group
5. ACE Ltd.
6. CNA Financial Corp.
7. Hartford Financial Services
8. Chubb Corp.
9. Nationwide Mutual Group
10. American Financial Group Inc.

Top P/C personal lines writers in 2013 were:

1. State Farm Automobile Insurance Company
2. Allstate Corp.
3. Berkshire Hathaway Inc.
4. Progressive Corp.
5. Farmers Insurance Group of Companies
6. Liberty Mutual Insurance
7. USAA Insurance Group
8. Nationwide Mutual Group
9. Travelers Companies Inc.
10. American Family Mutual