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 |
