insurance in usa

These are the highest 25 property/casualty insurance companies within the US
The nation’s high 25 property/casualty insurance companies declare nearly two-thirds of the full market and wrote greater than $708 billion in premium in 2019 – up from $552 billion in 2017, in line with new information from the Nationwide Affiliation of insurance companies Commissioners (NAIC).

State Farm Group is as soon as once more the biggest property/casualty insurance companies within the US, representing 9.27% of the market and writing $65.6 billion in direct premiums – almost $20 billion greater than its nearest competitor, Berkshire Hathaway ($46.1 billion), the title behind GEICO.

Liberty Mutual, Allstate, and Progressive moved their market share in comparison with 2017, with Progressive main the trio with a share of 5.54%.

Additional down the highest 10 rankings, Chubb dropped from seven to eight, regardless of its direct premiums written growing from $21.2 billion in 2017 to $23.Three billion in 2019. It switched locations with USAA insurance companies Group, which boosted its direct premiums written from $20.1 billion in 2017 to $23.Four billion in 2019, growing its market share by 0.22%.

The 25 greatest property/casualty insurance coverage teams, by direct premiums written and market share, are:

1. State Farm
Direct Premiums Written: $65.6 billion
Market Share: 9.27%

2. Berkshire Hathaway
Direct Premiums Written: $46.1 billion
Market Share: 6.51%

3. Progressive Group
Direct Premiums Written: $39.2 billion
Market Share: 5.54%

4. Liberty Mutual
Direct Premiums Written: $35.6 billion
Market Share: 5.03%

5. Allstate
Direct Premiums Written: $35 billion
Market Share: 4.95%

6. Vacationers Group
Direct Written Premiums: $28 billion
Market Share: 3.96%

7. USAA
Direct Written Premiums: $23.Four billion
Market Share: 3.32%

8. Chubb
Direct Written Premiums: $23.Three billion
Market Share: 3.30%

9. Farmers Insurance coverage
Direct Written Premiums: $20.6 billion
Market Share: 2.92%

10. Nationwide
Direct Written Premiums: $18.Four billion
Market Share: 2.60%

11. AIG
Direct Written Premiums: $14 billion
Market Share: 1.98%

12. Zurich
Direct Written Premiums: $12.Eight billion
Market Share: 1.82%

13. The Hartford
Direct Written Premiums: $12.6 billion
Market Share: 1.79%

14. American Household Insurance coverage
Direct Written Premiums: $11.5 billion
Market Share: 1.63%

15. CNA
Direct Written Premiums: $11 billion
Market Share: 1.56%

16. Auto-Homeowners Group
Direct Written Premiums: $8.5 billion
Market Share: 1.21%

17. Assurant
Direct Written Premiums: $8.2 billion
Market Share: 1.16%

18. Erie Insurance coverage
Direct Written Premiums: $7.Four billion
Market Share: 1.06%

19. Tokio Marine
Direct Written Premiums: $7.Four billion
Market Share: 1.05%

20. Fairfax Monetary
Direct Written Premiums: $6.9 billion
Market Share: 0.99%

21. American Monetary Group/Nice American Insurance coverage Group
Direct Written Premiums: $6.Three billion
Market Share: 0.90%

22. WR Berkley
Direct Written Premiums: $6.Three billion
Market Share: 0.89%

23. AXA
Direct Written Premiums: $6.1 billion
Market Share: 0.86%

24. Markel Company

Direct Written Premiums: $5.Eight billion
Market Share: 0.83%

25. Allianz

Direct Written Premiums: $5.Three billion
Market Share: 0.76%

In response to the Insurance coverage Data Institute (III), US insurance coverage business web premiums written totaled $1.32 trillion in 2019, with premiums recorded by life/well being insurers accounting for 52%, and premiums by property/casualty insurers accounting for 48%, in line with S&P International Market Intelligence.

P/C insurance coverage contains auto, owners and business insurance coverage. Web premiums written for the sector totaled $637.7 billion in 2019. In the meantime, the life/annuity insurance coverage sector contains annuities, accident and well being, and life insurance coverage with web premiums for the sector totaling $678.7 billion in 2019. Each figures are taken from the Insurance coverage Data Institute.

The US insurance coverage business employed 2.Eight million individuals in 2019, in line with the US Division of Labor. Of these, 1.6 million labored for insurance coverage corporations, together with life and well being insurers (923,000 employees), P/C insurers (647,000 employees), and reinsurers (28,500 employees). The remaining 1.2 million individuals labored for insurance coverage companies, brokers, and different insurance-related enterprises.