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
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%.
- Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 20, 2023, at $277,035,816,966.
The Homeowners Multiple Peril Marketplace
- The Direct Premiums for the Homeowners Multiple Peril insurance marketplace totalled $133,123,540,706, while Total Premiums Earned was $125,014,979,700.
- In terms of market share, State Farm is the largest insurer in this marketplace with $24,426,708,567 in Direct Premiums Written representing an 18.35% market share.
- The top three homeowners’ insurers in the U.S are as follows: State Farm; Allstate; and Boston-based Liberty Mutual. Together they have a cumulative market share of 34.68%.
- The top five P&C insurers have a cumulative market share of 47.55%, while the top ten command more than half of the marketplace with a cumulative market share of 64.04%.
- With respect to the top 25 Property & Casualty Insurers All Lines, the total market share of this group is 78.42%.
The Top 25 Homeowners Multiple Peril Insurers
| RANK | GROUP/COMPANY NAME | DIRECT PREMIUMS WRITTEN ($) | DIRECT PREMIUMS EARNED ($) | DIRECT LOSS TO EP RATIO | MARKET SHARE % | CUMULATIVE MARKET SHARE % | |
|---|---|---|---|---|---|---|---|
 | 1. | STATE FARM GRP | 24,426,708,567 | 23,243,345,780 | 60.21 | 18.35 | 18.35 |
 | 2. | ALLSTATE INS GRP | 12,008,178,870 | 11,238,752,300 | 63.27 | 9.02 | 27.37 |
 | 3. | LIBERTY MUT GRP | 9,728,357,755 | 9,033,586,102 | 65.69 | 7.31 | 34.68 |
 | 4. | UNITED SERV AUTOMOBILE ASSN GR | 8,852,143,318 | 8,387,227,318 | 73.45 | 6.65 | 41.33 |
 | 5. | FARMERS INS GRP | 8,285,446,943 | 7,894,396,007 | 63.63 | 6.22 | 47.55 |
 | 6. | TRAVELERS GRP | 6,498,181,339 | 6,012,123,324 | 68.72 | 4.88 | 52.43 |
 | 7. | AMERICAN FAMILY INS GRP | 5,797,121,079 | 5,353,082,337 | 72.12 | 4.35 | 56.79 |
 | 8. | NATIONWIDE CORP GRP | 3,795,642,887 | 3,636,055,317 | 74.82 | 2.85 | 59.64 |
 | 9. | CHUBB LTD GRP | 3,419,791,918 | 3,315,068,903 | 53.09 | 2.57 | 62.21 |
 | 10. | PROGRESSIVE GRP | 2,444,270,450 | 2,316,783,492 | 83.22 | 1.84 | 64.04 |
 | 11. | CITIZENS PROP INS CORP | 2,257,368,054 | 1,731,563,607 | 144.37 | 1.70 | 65.74 |
 | 12. | ERIE INS GRP | 2,203,306,683 | 2,069,089,987 | 76.67 | 1.66 | 67.39 |
 | 13. | AUTO OWNERS GRP | 2,143,112,101 | 2,015,322,154 | 83.49 | 1.61 | 69.00 |
 | 14. | UNIVERSAL INS HOLDING GRP | 1,751,180,090 | 1,667,305,833 | 93.89 | 1.32 | 70.32 |
 | 15. | TOKIO MARINE HOLDINGS INC GRP | 1,193,321,536 | 1,124,447,817 | 57.71 | 0.90 | 71.22 |
 | 16. | CSAA INS GRP | 1,189,924,369 | 1,121,731,816 | 39.99 | 0.89 | 72.11 |
 | 17. | AUTO CLUB ENTERPRISES INS GRP | 1,012,772,711 | 947,272,915 | 61.85 | 0.76 | 72.87 |
 | 18. | AMICA MUT GRP | 1,005,966,861 | 983,888,472 | 65.75 | 0.76 | 73.63 |
 | 19. | HERITAGE INS HOLDINGS GRP | 981,439,150 | 940,303,744 | 87.13 | 0.74 | 74.36 |
 | 20. | MERCURY GEN GRP | 956,904,604 | 890,118,033 | 60.18 | 0.72 | 75.08 |
 | 21. | HARTFORD FIRE & CAS GRP | 934,620,026 | 917,778,809 | 49.43 | 0.70 | 75.78 |
 | 22. | CINCINNATI FIN GRP | 930,994,168 | 841,203,431 | 57.95 | 0.70 | 76.48 |
 | 23. | COUNTRY INS & FIN SERV GRP | 877,343,353 | 830,387,419 | 67.92 | 0.66 | 77.14 |
 | 24. | AUTOMOBILE CLUB MI GRP | 856,443,961 | 808,306,221 | 84.60 | 0.64 | 77.79 |
 | 25. | AMERICAN INTL GRP | 844,614,103 | 963,515,802 | 50.56 | 0.63 | 78.42 |
| **INDUSTRY TOTAL** | 133,123,540,706 | 125,014,979,700 | 70.81 | 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. Auto 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
