Largest P/C, health insurers revealed

According to NAIC estimates, these insurance carriers have the largest market shares in the P/C and health industries.

Professional Risks


The National Association of Insurance Commissioners (NAIC) released two sets of data this week that give an indication of which insurance carriers currently lead the nation in terms of market share.

The market data reflects direct written premium for 2013, and highlights the top 25 groups and companies in the life/fraternal and property/casualty markets. Both reports will be refreshed daily and then on each Monday through the end of March before data is finalized.

Currently, NAIC identifies the following companies as having the largest degree of market share in their respective industry sectors.

Life/Fraternal Insurance
Includes life, annuity and accident/health insurance.

1. MetLife—8.04% of market share
2. Northwestern Mutual—6.25%
3. Prudential of America—5.53%
4. New York Life—5.21%
5. Lincoln National—4.07%
6. Aflac—3.81%
7. Mass Mutual Life Insurance—3.81%
8. John Hancock—3.21%
9. Aegon US Holding—2.71%
10. State Farm—2.65%

Property/Casualty Insurance
Includes personal and commercial auto, workers’ compensation, medical professional liability, homeowners and other liability insurance.

1. State Farm—10.36% of market share
2. Liberty Mutual—5.45%
3. Allstate Insurance—5.11%
4. Berkshire Hathaway—4.29%
5. Travelers—4.23%
6. Farmers Insurance—3.38%
7. Nationwide Corp—3.35%
8. AIG—3.28%
9. Progressive—3.25%
10. United Service Automobile Association—2.7%

The release coincided with Satmetrix’s 2014 consumer Net Promoter Benchmark Study. The study ranks consumer satisfaction with large companies in various sectors, including insurance.

State Farm was the highest-ranked publicly available provider in both the auto insurance and home/contents insurance categories. However, USAA was ranked top dog in customer service for both the home/contents and the auto insurance sector.

Kaiser Permanente was dominant in the health insurance sector, with State Farm taking the lead in life insurance.

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