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).
Key Points from This Year’s Report:
- With 97.92% of property and casualty insurance companies reporting so far, 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 67.07%.
The Private Passenger Auto Insurance Marketplace
- Sitting atop the seven major lines of insurance featured in the NAIC Market Share Report is the Private Passenger Auto insurance marketplace, with a total amount of Direct Written Premiums last year of $277,035,816,966 as of March 20, 2023.
- As for Direct Premiums Earned, the total was $270,260,624,049.
- Both totals saw an increase from the previous year numbers which were $260,779,893,088 and $257,660,063,509, respectively.
- Based on these figures, the U.S. Private Passenger insurance marketplace ranks as the largest line of insurance in the U.S.
- Of note this year, Progressive has overtaken Berkshire Hathaway to rank as the second-largest private passenger auto insurer in the nation with a 14.05% market share versus Berkshire Hathaway’s 13.77%.
- There are currently three Massachusetts-based insurers on the top 25 U.S. auto insurers list: Liberty Mutual (6), The Hanover (20), and MAPFRE (21).
- The Hanover has increased its market share over the past year while both Liberty Mutual and MAPFRE’s rankings remain unchanged.
- In terms of market share, the top 25 insurers dominate the private passenger auto insurance marketplace with a cumulative market share of 88.74%.
- The Top 10 insurers dominate this marketplace with a 76.97% cumulative market share.
- The top three largest auto insurers, State Farm; Progressive; and Berkshire Hathaway, have just under half of the total market with a combined market share of 44.06%, while the top five auto insurers dominate with a combined 61.27% market share.
Market Share by Line of Business
The Top 25 Private Passenger Auto Insurers in the U.S.
| RANK | COMPANY NAME | DIRECT PREMIUMS WRITTEN ($) | DIRECT PREMIUMS EARNED ($) | DIRECT LOSS TO EP RATIO | MARKET SHARE (%) | CUMULATIVE MARKET SHARE (%) | |
|---|---|---|---|---|---|---|---|
 | 1. | STATE FARM GRP | 46,660,515,469 | 44,834,962,015 | 94.69 | 16.84 | 16.84 |
 | 2. | PROGRESSIVE GRP | 38,927,286,246 | 37,549,713,462 | 69.16 | 14.05 | 30.89 |
 | 3. | BERKSHIRE HATHAWAY GRP | 38,135,712,698 | 38,002,275,691 | 86.05 | 13.77 | 44.66 |
 | 4. | ALLSTATE INS GRP | 29,610,810,472 | 28,744,785,355 | 79.02 | 10.69 | 55.35 |
 | 5. | UNITED SERV AUTOMOBILE ASSN GRP | 16,405,977,077 | 16,078,265,307 | 91.06 | 5.92 | 61.27 |
 | 6. | LIBERTY MUT GRP | 13,704,350,854 | 13,588,889,878 | 70.32 | 4.95 | 66.22 |
 | 7. | FARMERS INS GRP | 12,605,723,036 | 12,503,254,508 | 68.26 | 4.55 | 70.77 |
 | 8. | TRAVELERS GRP | 5,836,017,875 | 5,591,278,378 | 73.32 | 2.11 | 72.87 |
 | 9. | AMERICAN FAMILY INS GRP | 5,834,828,007 | 5,692,211,019 | 75.56 | 2.11 | 74.98 |
 | 10. | NATIONWIDE CORP GRP | 5,505,995,164 | 5,464,159,882 | 71.75 | 1.99 | 76.97 |
 | 11. | AUTO CLUB ENTERPRISES INS GRP | 4,011,979,040 | 3,837,329,178 | 79.14 | 1.45 | 78.42 |
 | 12. | KEMPER CORP GRP | 3,606,770,294 | 3,852,517,283 | 75.69 | 1.30 | 79.72 |
 | 13. | ERIE INS GRP | 3,593,761,558 | 3,469,714,026 | 90.20 | 1.30 | 81.01 |
 | 14. | AUTO OWNERS GRP | 3,516,291,951 | 3,382,164,461 | 76.78 | 1.27 | 82.28 |
 | 15. | CSAA INS GRP | 3,080,536,574 | 2,970,307,152 | 69.60 | 1.11 | 83.40 |
 | 16. | MERCURY GEN GRP | 2,572,282,551 | 2,632,680,513 | 75.36 | 0.93 | 84.32 |
 | 17. | HARTFORD FIRE & CAS GRP | 1,979,861,649 | 1,941,688,894 | 68.77 | 0.71 | 85.04 |
 | 18. | AUTOMOBILE CLUB MI GRP | 1,943,888,941 | 1,908,131,293 | 125.89 | 0.70 | 85.74 |
 | 19. | SENTRY INS GRP | 1,364,789,371 | 1,302,665,922 | 62.09 | 0.49 | 86.23 |
 | 20. | THE HANOVER INS GRP | 1,349,213,783 | 1,303,178,555 | 68.45 | 0.49 | 86.72 |
 | 21. | MAPFRE INS GRP | 1,314,025,891 | 1,285,411,409 | 71.60 | 0.47 | 87.19 |
 | 22. | AMICA MUT GRP | 1,219,119,929 | 1,216,101,123 | 80.18 | 0.44 | 87.63 |
 | 23. | COUNTRY INS & FIN SERV GRP | 1,215,643,818 | 1,205,480,688 | 67.25 | 0.44 | 88.07 |
 | 24. | SHELTER INS GRP | 1,158,598,800 | 1,122,995,293 | 79.84 | 0.42 | 88.49 |
 | 25. | ALFA INS GRP | 1,134,929,974 | 1,075,020,796 | 71.19 | 0.41 | 88.90 |
| **INDUSTRY TOTAL** | 277,035,816,966 | 270,260,624,049 | 80.16 | 100.00 | 100.00 |
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. Commercial 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
