NAIC has published data revealing the largest insurers in North America, and once again,
State Farm Group reigns supreme.
Similar to last year’s findings, State Farm ranked first amongst property and casualty insurers across all lines, commanding 10.34% of the industry's market share – a slight increase from 10.33% in 2013.
The next four were identically ranked from the year prior, with
Liberty Mutual Group,
Allstate Insurance Group,
Berkshire Hathaway Group, and
Travelers Group rounding out the top five.
The most notable change in market share occurred with Liberty, which experienced a pretty notable decline from 2013 to 2014. In that timeframe, it dropped from 5.43% to 5.19%.
Berkshire Hathaway, on the other hand, received greater market concentration, increasing from 4.28% to 4.67%.
The property/casualty figures include data from such business lines as auto, workers’ compensation, homeowners, and liability insurance. Below is a representation of the shifts that occurred for the top five insurers between 2013 and 2014: