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You are here: Home / Latest News / Top 25 U.S. Commercial Auto Insurers | NAIC 2023 Market Share Report

Top 25 U.S. Commercial Auto Insurers | NAIC 2023 Market Share Report

March 20, 2023 by AC Editor

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The National Association of Insurance Commissioners has issued its annual Market Share Data Reports for both the Property & Casualty Insurance Marketplace, as well as for the Life & Fraternal Insurance Marketplace. As in the past, the data offered here reflects a compiled list of market share data based upon filings of countrywide premium submitted to the NAIC from Property & Casualty insurers as reported on the State Page of the NAIC’s annual statement for insurers.

The data is then compiled and included in various reports on cumulative market share data for the seven major lines of insurance in the United States: All lines; Private Passenger Personal Auto; Commercial Auto; Workers’ Compensation; Medical Professional Liability; Homeowners’ Multi-Peril, and Other Liability (excluding auto liability).

Market Share by Line of Business

NAIC Data as of March 27 2023 Chart by Agency Checklists

Key Points from This Year’s Report

  • As of March 20, 2023, direct premiums written for all lines of business are $869,982,560,322.
  • The Top 10 property and casualty companies reporting so far have a cumulative market share of 47.89%.
  • Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 1, 2023, at $178,365,401,539, which is about 29% of all written premiums.

The Commercial Auto Marketplace

  • Turning to the Commercial Auto insurance marketplace, the total amount of Direct Written Premiums for this line of insurance last year was $59,653,810,424, while the total Direct Premiums Earned was $57,113,380,847. Both totals saw an increase from the previous year numbers which were $53,693,443,668 and $50,562,413,414, respectively.
  • Based on these figures, the U.S. Commercial Auto insurance marketplace ranks as the fifth-largest line of insurance in the U.S. after the Other Liability and before the Workers’ Compensation marketplaces.
  • Progressive is the largest commercial auto insurer in the nation with a 15.54% market share and $9,267,311,458 in Direct Premiums Written.
  • Boston-based Liberty Mutual is now the third-largest insurer in this category, edging out Old Republic, with $2,347,037,179 in Direct Written Premiums last year representing a 3.93% market share.
  • Overall, the top ten insurers claim a combined cumulative market share of 44.10% while the top five claim a 31.47%.
  • As for the top three largest Commercial Auto insurers they claim a cumulative market share of just under 25% (24.73%).
  • The top 25 Commercial Auto insurers as a whole have a combined market share of 67.47%.

The Top 25 Commercial Auto Insurers in the U.S.

RANK
COMPANY NAMEDIRECT PREMIUMS WRITTEN ($)DIRECT PREMIUMS EARNED ($)DIRECT LOSS TO EP RATIOMARKET SHARE (%)CUMULATIVE MARKET SHARE (%)
1. Insurance News Massachusetts and US Market Share1.PROGRESSIVE GRP9,267,311,4589,125,751,62568.1615.5415.54
2. Agency Checklists, MA Insurance News, Mass. Insurance News, Travelers2.TRAVELERS GRP3,138,587,0823,048,395,56061.405.2620.80
3. Top Insurer in the US, Insurance News Massachusetts and US Market Share3.LIBERTY MUT GRP2,347,037,1792,244,620,63173.733.9324.73
4. Top Insurers in the United State4.OLD REPUBLIC GRP2,249,262,7472,141,173,57374.153.7728.50
5. Zurich Insurance Group5.ZURICH INS GRP1,769,426,8711,732,929,05771.952.9731.47
6. Top Insurer in the US, Insurance News Massachusetts and US Market Share6.BERKSHIRE HATHAWAY GRP1,709,014,7461,699,411,82158.642.8634.33
7. Insurance News Massachusetts and US Market Share7.NATIONWIDE CORP GRP1,642,005,5211,660,101,25068.432.7537.09
8. Insurance News Massachusetts and US Market Share8.AUTO OWNERS GRP1,601,751,9111,521,253,24677.372.6939.77
9. Insurance News Massachusetts and US Market Share9.ALLSTATE INS GRP1,293,789,8211,263,234,690109.722.1741.94
10. Agency Checklists, MA Insurance News, Mass. Insurance News, Chubb, Mass. insurance companies10.CHUBB LTD GRP1,288,835,4761,283,510,85477.472.1644.10
11. Top Insurer in the US, Insurance News Massachusetts and US Market Share11.WR BERKLEY CORP GRP1,244,010,4661,190,681,16564.212.0946.18
12. STATE FARM GRP1,206,444,316959,981,588110.752.0248.21
13. Insurance News Massachusetts and US Market ShareFARMERS INS GRP1,160,371,0171,115,758,33471.791.9550.15
14. Agency Checklists, MA Insurance News, Mass. Insurance News, The Hartford, Hartford Insurance NewsHARTFORD FIRE & CAS GRP1,060,543,030994,920,14367.861.7851.93
15. Top Insurer in the US, Insurance News Massachusetts and US Market ShareAMERICAN FINANCIAL GRP1,005,603,672973,979,79857.011.6953.62
16. AMERICAN INTL GRP957,579,677936,063,34675.221.6155.22
17. Top Insurer in the US, Insurance News Massachusetts and US Market ShareFAIRFAX FIN GRP926,103,389787,517,68970.361.5556.77
18. Agency Checklists, MA Insurance Gorup, Mass. Insurance Group, Tokio Marine, Tokio Marine MassachusettsTOKIO MARINE HOLDINGS INC GRP887,954,794852,883,23762.261.4958.26
19. Top Insurers in the United StatesSELECTIVE INS GRP884,893,730837,622,65669.601.4859.75
20. Top Insurers in the United StatesSENTRY INS GRP882,154,377835,593,83466.121.4861.22
21. CINCINNATI FIN GRP854,193,773838,712,74164.491.4362.66
22. Insurance News Massachusetts and US Market ShareERIE INS GRP788,467,093756,121,43082.031.3263.98
23. Top 25 commercial auto insurers in US 2020ACUITY A MUT INS CO737,809,643715,732,05567.601.2465.21
24. Top Insurer in the US, Insurance News Massachusetts and US Market ShareCNA INS GRP701,528,864663,595,70676.351.1866.39
25. Top 25 P&C Insurers U.S. | Agency ChecklistsFEDERATED MUT GRP641,571,953623,406,69460.461.0867.47
**INDUSTRY TOTAL**59,653,810,42457,113,380,84770.33100.00100.00

Links to our 2023 NAIC Market Share Reports

  • NAIC 2023 Market Share Report | Top 25 U.S. P&C Insurers – All Lines
  • NAIC 2023 Market Share Report | Top 25 U.S. Auto Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Homeowners Multiple Peril Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Medical Professional Liability Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Other Liability Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Workers Compensation Insurers

Links to our 2022 NAIC Market Share Reports

  • NAIC 2022 Market Share Report | Top 25 U.S. P&C Insurers – All Lines
  • NAIC 2022 Market Share Report | Top 25 U.S. Homeowners’ Multiple Peril Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Auto Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Commercial Auto Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Workers Compensation Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Other Liability Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Medical Professional Liability Insurers

Filed Under: Latest News Tagged With: Agency Checklists, Mass. Insurance News, massachusetts insurance news, New England Insurance News, Top commercial auto insurers US

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