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The Top 10 Private Passenger Auto Insurers in the U.S

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A look at the largest Private Passenger Auto Insurers in the nation

Last week, Agency Checklists completed its look at the size and composition of various lines of insurance in the Commonwealth for the year 2014, the last year for which the Division of Insurance has complete information. We now turn to the national marketplace.

For a third year in a row, GEICO is the number two private passenger auto insurer in the U.S.

As it does every March, the National Association of Insurance Commissioners has released its annual market share report of the top 25 P&C insurers nationwide.  The list is based on filings to the N.A.I.C. and represents the top 25 groups and companies based upon data reported on the State Page of the NAIC’s annual statement for insurers.

We thought it would be interest to Massachusetts professionals to see what are the top 25 private passenger automobile insurers and then compare those vis-a-vis to the top insurers in Massachusetts.

Of note, in 2014 the Berkshire Hathaway Group, or GEICO, overtook Allstate as the second largest private passenger auto insurer in the U.S. State Farm has continued to claim the number one spot.

The Top 25 private passenger automobile insurance companies

The total amount of Direct Premiums Written for the top 25 Property & Casualty insurers last year, was $198,814,178,717 dollars. The total Direct Premiums Earned for this group was $195,270,071,658 dollars. In comparison, the total

The following is a list of the top 25 companies in the nation. As a note of interest, Agency Checklists thought it might be interesting for Massachusetts insurance professionals to compare this list with the top 20 private passenger automobile insurers in Massachusetts. It follows at the end of this chart.

Rank

Company Name

Direct Premium Written

Direct Premium Earned

Market Share

Cumulative Market Share
1. State Farm Grp. 36,545,895,958 36,271,810,146 18.38 18.38
2. Berkshire Hathaway Grp. 22,808,382,011 22,159,887,329 11.47 29.85
3. Allstate Insurance Grp. 20,036,973,320 19,823,851,911 10.08 39.93
4. Progressive Grp. 17,518,721,243 17,117,055,670 8.81 48.74
5. USAA Grp. 10,562,099,665 10,356,483,380 5.31 54.06
6. Farmers Ins. Grp. 9,985,968,559 9,920,517,845 5.02 59.08
7. Liberty Mutual Grp. 9,942,667,097 9,629,834,976 5.00 64.08
8. Nationwide Corp. Grp. 7,468,707,881 7,392,565,775 3.76 67.84
9. American Family Ins. Grp. 3,694,270,706 3,605,102,297 1.86 69.70
10. Travelers Grp. 3,377,404,445 3,229,374,977 1.70 71.39
11. Auto Club Enterprises Ins. Group 2,541,211,808 2,472,919,532 1.28 72.67
12. Erie Ins. Grp. 2,515,591,452 2,435,209,898 1.27 73.94
13. Hartford Fire & Cas. Grp. 2,492,504,843 2,441,921,787 1.25 75.19
14. Mercury Gen Grp. 2,316,630,975 2,281,192,196 1.17 76.36
15. CSAA Ins. Grp. 2,308,156,538 2,231,747,455 1.16 77.52
16. Metropolitan Grp. 2,298,551,571 2,248,205,829 1.16 78.67
17. Auto Owners Grp. 1,902,038,523 1,881,166,318 0.96 79.63
18. Automobile Club MI Grp. 1,583,753,850 1,582,768,095 0.80 80.43
19. MAPFRE INS GR 1,581,366,154 1,535,537,132 0.80 81.22
20. Amtrust NGH Grp. 1,338,665,989 1,300,495,481 0.67 81.90
21. Infinity Property & Casualty Ins Grp. 1,261,827,809 1,243,497,371 0.63 82.53
22. Amica Mutual Grp. 1,134,934,922 1,112,729,200 0.57 83.10
23. Country Ins. & Fin. Serv. Grp. 980,544,026 992,613,806 0.49 83.59
24. The Hanover Ins. Grp. 962,637,762 949,932,360 0.48 84.08
25. New Jersey Manufacturers Grp. 925,361,054 946,199,348 6 0.47 84.54

 

A comparison of the Top 10 U.S. auto insurers versus the Top 10 in Massachusetts

A couple of weeks ago Agency Checklists published a list of the Top 10 private passenger auto insurance companies in Massachusetts. We thought it might be interesting for Massachusetts insurance professionals to see a side by side comparison of the national list and the Bay State list. It is interesting to note at the outset, however, that Massachusetts’ largest auto insurer MAPFRE/Commerce is only number 19 on the list above.

 

Rank

Massachusetts Top 10

U.S. Top 10

1.

MAPFRE/Commerce

State Farm

2.

Safety 

Berkshire Hathway Grp. (GEICO)

3.

Liberty Mutual 

Allstate

4.

Arbella

Progressive

5.

Plymouth Rock

USAA

6.

GEICO

Farmers

7.

Metropolitan

Liberty Mutual

8.

Progressive

Nationwide

9.

Amica

American Family

10.

Citizens

Travelers