The National Association of Insurance Commissioners has released its annual market share report for 2019 which includes a listing of the largest Workers’ Compensation insurers nationwide.
The annual report compiles the list based upon filings submitted to the NAIC as reported on the State Page of the NAIC’s annual statement for insurers. It reflects data for 2019, the latest date for which complete data is available.
Take-aways from this year’s data
The top 25 workers’ compensation companies had a total of $56,132,546,749 Direct Written Premiums for 2019, while the number of Direct Premiums Earned was $56,390,991,630. As for other facts worth noting:
- Connecticut-based insurers Travelers and The Hartford continue to rank as the top two largest workers’ compensation writers in the U.S. with a 13.50% cumulative market share.
- The only Massachusetts-based workers’ compensation company to make the list is Liberty Mutual, which actually was founded as a workers’ compensation company back in 1911. It moved down a spot this year from the number 3rd to the 4th largest workers’ compensation insurer in the U.S.
- Copperpoint is the only new workers’ compensation insurer to join the list this year, debuting as the 23rd largest insurer.
The Top 25 Worker’s Compensation Insurers in the U.S.
|Rank||Company Name||Direct Premiums Written||Direct Premiums Earned||Market Share %|
|2.||Hartford Fire & Casualty Group||3,365,297,798||3,388,991,602||6.00|
|3.||Zurich Ins. Group||2,640,320,129||2,700,245,475||4.70|
|4.||Liberty Mutual Group||2,447,305,755||2,450,287,489 4||4.36|
|5.||Chubb Ltd. Group||2,430,117,636||2,450,345,541||4.33|
|6.||Berkshire Hathaway Group||2,311,261,177||2,310,210,382||4.12|
|7.||Amtrust Financial Serv. Group||2,172,218,914||2,295,072,846||3.87|
|8.||State Ins. Fund||1,996,371,709||2,057,856,117||3.56|
|9.||BCBS of MI Group||1,744,639,523||1,685,247,857||3.11|
|10.||American International Group||1,453,476,911||1,525,476,489||2.59|
|11.||Old Republic Group||1,409,565,369||1,440,606,264||2.51|
|12.||American Financial Group||1,312,918,907||1,327,698,594||2.34|
|13.||WR Berkley Corp. Group||1,260,683,282||1,311,317,856||2.25|
|14.||State Compensation Ins. Fund||1,206,037,980||1,204,546,849||2.15|
|15.||Texas Mutual Ins. Co.||1,069,298,202||1,052,315,860||1.90|
|16.||ICW Group Assets Inc. Group||1,040,566,858||886,678,927||1.85|
|17.||Fairfax Fin. Group||852,110,739||858,146,458||1.52|
|18.||CNA Ins. Group||827,536,614||807,317,333 4||1.47|
|20.||Employers Holding Group||687,425,727||691,571,946||1.22|
|21.||Arch Ins. Group||636,146,917||608,536,788||1.13|
|24.||Markel Corp. Group||551,011,114||556,709,507||0.98|
|25.||Everest Reins Holding Group||550,408,373||529,328,384||0.98|