A look at the largest P&C Insurers in the nation
The National Association of Insurance Commissioners has released its annual market share report of the top 25 P&C insurers nationwide this month. 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.
As in past years, Agency Checklists thought it would be interesting to compare the top 20 P&C insurers in the U.S. vis-a-vis the top P&C insurers in Massachusetts.
The Top 25 P&C insurance companies in the U.S.
As of March 5, 2018, the industry total of Direct Premiums Written for the top 25 P&C insurers in the United States was $635,747,339,420 dollars. Direct Premiums Earned was $ 623,767,719,081 dollars.
The only Massachusetts-based insurer making the list, is the number three ranked, Liberty Mutual. In 2016, Liberty Mutual overtook Allstate to become the third largest insurer in the U.S., a spot that it continues to hold this year as well. GEICO continues to hold the second spot, while State Farm still dominates with just about double the Direct Written Premium of its nearest competitor.
And now a look at all of the top 25 P&C insurers this year…
|
Rank |
Company Name |
Direct Premium Written |
Direct Premium Earned |
Market Share |
1. |
 |
$64,897,105,218 |
$63,991,876,293 |
10.21% |
2. |
 |
$38,267,992,416 |
$36,686,541,318 |
6.02% |
3. |
 |
$33,831,725,985 |
$33,202,968,579 |
5.32% |
4. |
 |
$31,501,664,285 |
$31,300,855,577 |
4.96% |
5. |
 |
$27,862,882,459 |
$26,427,455,875 |
4.38% |
6. |
 |
$24,875,076,434 |
$24,468,180,884 |
3.91% |
7. |
 |
$21,208,575,780 |
$21,232,027,673 |
3.34% |
8. |
 |
$20,151,367,659 |
$19,494,955,483 |
3.17% |
9. |
 |
$19,862,472,177 |
$19,789,794,167 |
3.12% |
10. |
 |
$19,218,906,948 |
$19,417,804,723 |
3.02% |
11. |
 |
$14,033,051,782 |
$14,702,403,961 |
2.21% |
12. |
 |
$13,022,736,080 |
$12,842,381,818 |
2.05% |
13. |
 |
$11,134,409,164 |
$11,192,987,574 |
1.75% |
14. |
 |
$10,455,108,662 |
$10,021,584,504 |
1.64% |
15. |
 |
$10,210,057,731 |
$9,722,707,122 |
1.61% |
16. |
 |
$8,363,930,038 |
$8,136,215,509 |
1.32% |
17. |
 |
$7,152,202,097 |
$6,811,788,684 |
1.13% |
18. |
 |
$6,656,501,343 |
$6,467,327,727 |
1.05% |
19. |
 |
$6,652,993,303 |
$6,569,381,648 |
1.05% |
20. |
 |
$5,912,247,592 |
$5,791,937,547 |
0.93% |
21. |
 |
$5,740,267,699 |
$5,706,592,653 |
0.90% |
22. |
 |
$5,661,281,714 |
$5,548,370,344 |
0.89% |
23. |
 |
$5,471,597,517 |
$5,329,432,634 |
0.86% |
24. |
 |
$4,858,277,740 |
$4,755,484,491 |
0.76% |
25. |
 |
$4,626,165,721 |
$4,403,323,424 |
% |
A comparison of the Top 10 in the U.S. v. Massachusetts
Massachusetts, unlike other states, differs from other insurance markets in that the majority of companies operating here are based in either the Commonwealth or New England.
Of note, only two of the top 10 P&C Insurers in the U.S. also appear on the Massachusetts list. The following is a side by side comparison on the top 10 in the U.S. v. the top 10 in Massachusetts.
|
Rank |
Massachusetts Top 10 P&C Insurers |
U.S. Top 10 P&C Insurers |
|
1. |
MAPFRE/Commerce |
State Farm Group |
|
2. |
Safety Insurance |
Berkshire Hathaway Group |
|
3. |
Arbella |
Liberty Mutual |
|
4. |
Liberty Mutual |
Allstate |
|
5. |
GEICO |
Progressive |
|
6. |
Plymouth Rock |
Travelers |
|
7. |
Met. Prop. & Casualty Ins. |
Chubb |
|
8. |
LM Gen. Ins. Co. |
USAA |
|
9. |
Amica |
Farmers |
|
10. |
Federal Ins. Co. |
Nationwide |
