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You are here: Home / Insurance News | Massachusetts / News | Miscellaneous / NAIC 2019 US Market Share Report: Top 25 Private Passenger Auto Insurers

NAIC 2019 US Market Share Report: Top 25 Private Passenger Auto Insurers

March 26, 2019 by AC Editor

Who are the largest auto insurers in AmericaProgressive is now the third largest Private Passenger Auto Insurer in the nation

As it does every March, the National Association of Insurance Commissioners has released its annual market share report of the top 25 Private Passenger Auto Insurers nationwide.  The list is based on filings to the N.A.I.C. and represents the largest auto insurers in the land based upon data reported for 2018 on the State Page of the NAIC’s annual statement for insurers.

An overall look at this market and the movements within over the past year

The total amount of Direct Premiums Written for the top 25 Private Passenger Auto Insurers in 2018 was $ 246,072,393,826  as compared to $214,160,570,743 dollars in 2017. The total Direct Premiums Earned for this group was $242,054,605,219 versus $209,350,928,165.

Of note, the following movements were noted in comparing this year’s list with last year’s:

  • Progressive has surpassed Allstate to become the third largest pp auto insurer in the U.S. behind GEICO and State Farm.
  • As happened on the list of the top 25 PC insurers, Allstate has dropped down to the fourth spot,
  • For a fifth year in a row, GEICO is the number two private passenger auto insurer in the U.S.
  • Together the top two auto insurers currently claim a 30.49% cumulative share of the market.
  • Three Massachusetts-based insurers made the list: Liberty Mutual (#6), MAPFRE (#21), and The Hanover (#23) .
  • The top four claim a 50.70% cumulative share of the market, while the top five have a 56.58% share, an increase of 2.01% over last year’s market share numbers.

In 2014, the Berkshire Hathaway Group’s GEICO, overtook Allstate as the second largest private passenger auto insurer in the U.S., and has not relinquished the spot since. State Farm has continued to dominate in the number one spot with a 17.05% share of the US marketplace.

The 2018 list of the top 25 Private Passenger Auto Insurance Companies in the US

Rank

Company Name

Direct Premium Written

Direct Premium Earned

Market Share

Cumulative Market Share

1. Insurance News Massachusetts and US Market ShareState Farm Grp. $41,951,637,349 $42,232,051,706 17.05% 17.05%
2. Top Insurer in the US Insurance News Massachusetts and US Market ShareBerkshire Hathaway Grp. $33,075,433,594 $32,351,452,231 13.44% 30.49%
3. Insurance News Massachusetts and US Market ShareProgressive Grp. $27,058,768,139 $25,934,644,851 11.00% 41.49%
4. Insurance News Massachusetts and US Market ShareAllstate Insurance Grp. $22,663,214,300 $22,335,251,944 9.21% 50.70%
5. Top Insurer in the US Insurance News Massachusetts and US Market ShareUSAA Grp. $14,467,935,701 $14,188,645,765 5.88% 56.58%
6. Top Insurer in the US Insurance News Massachusetts and US Market ShareLiberty Mutual Grp. $11,776,653,779 $11,718,784,133 4.79% 61.36%
7. Insurance News Massachusetts and US Market ShareFarmers Ins. Grp. $10,496,467,788 $10,442,977,091 4.27% 65.63%
8. Insurance News Massachusetts and US Market ShareNationwide Corp. Grp. $6,726,798,973 $6,877,149,371 2.73% 68.36%
9. Insurance News Massachusetts and US Market ShareTravelers Grp. $4,697,743,235 $4,557,007,615 1.91% 70.27%
10. Insurance News Massachusetts and US Market ShareAmerican Family Ins. Grp. $4,687,908,536 $4,563,151,478 1.91% 72.17%
11. Insurance News Massachusetts and US Market ShareAuto Club Enterprises Ins. Group $3,394,874,979 $3,234,196,981 1.38% 73.55%
12. Insurance News Massachusetts and US Market ShareErie Ins. Grp. $3,218,568,088 $3,104,638,712 1.31% 74.86%
13. Top Insurer in the US Insurance News Massachusetts and US Market ShareKemper Corp. Grp. 3,082,993,156 2,955,528,775 1.25 76.12
14. Insurance News Massachusetts and US Market ShareNational General Grp. $3,003,034,970 $2,864,814,860 1.22% 77.34%
15. Insurance News Massachusetts and US Market ShareCSAA Ins. Grp. $3,002,970,951 $2,901,188,852 1.22% 78.56%
16. Insurance News Massachusetts and US Market ShareAuto Owners Grp. $2,942,614,894 $2,750,470,792 1.20% 79.75%
17. Mercury Gen GrpMercury Gen. Grp. $2,676,701,886 $2,577,279,374  1.09% 80.84%
18. Agency Checklists MA Insurance News Mass Insurance News MetLife Who are the largest insurance companies in Massachusetts Mass insurance companiesMetropolitan Grp. $2,477,043,266 $2,434,557,167 1.01% 81.85%
19. Top Insurer in the US Insurance News Massachusetts and US Market ShareHartford Fires & Cas Grp. $2,110,796,098 $2,196,058,812 0.86% 82.70%
20. Insurance News Massachusetts and US Market ShareAutomobile Club MI Grp. $2,010,271,333 $1,982,025,714 0.82% 83.52%
21. Top Insurer in the US Insurance News Massachusetts and US Market ShareMAPFRE Ins. Grp. $1,631,467,226 $1,655,550,187 0.66% 84.18%
22. Insurance News Massachusetts and US Market ShareAmica Mutual Grp. $1,364,435,059 $1,350,114,130 0.55% 84.74%
23. Top Insurer in the US Insurance News Massachusetts and US Market ShareThe Hanover Ins. Grp. $1,204,039,770 $1,149,907,999 0.49% 85.23%
24. Insurance News Massachusetts and US Market ShareCountry Ins. & Fin. Serv. Grp. $1,160,214,029 $1,149,166,677 0.47% 85.70%
25. Top Insurer in the US Insurance News Massachusetts and US Market ShareNew Jersey Manufacturers Grp. $1,079,672,412 $1,048,940,110 0.44% 86.14%

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Filed Under: News | Miscellaneous Tagged With: auto insurance massachusetts, insurance news massachusetts, MA Insurer News, MAPFRE, massachusetts insurance news

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