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 past iterations, 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.
Once collected, 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 takeaways from this year’s Other Liability Insurers List
With 98.01% of Property and Casualty insurance companies reporting so far, the NAIC reports that industry totals for Direct Premiums Written for all lines of business is approximately $960,802,932,489 and for Direct Premiums Earned $920,418,549,112.
Turning to the Other Liability insurance marketplace, the Industry Total amount of Direct Premium Written by the top 25 P&C insurers totalled $120,973,970,220. As for the top 25 Insurers’ market share, their total share represents approximately a 70.19% share of the total marketplace.
As for the top 10 insurers within this cohort, they had a combined total of Direct Written Premiums of $51,786,939,967 representing a Cumulative Market Share of 42.81%. As for New England insurer representation on this list, three of the top 25 insurers hail from our region: Travelers, Liberty Mutual and The Hartford.
The Top 25 P&C Insurers by Countrywide Premium – Other Liability
Please note the following data is updated on a weekly basis by the NAIC through the month of March. The updated data here reflects the latest data as of March 18, 2024, reflecting an estimated 98.01% of Property/Casualty filings.
| RANK | GROUP/COMPANY NAME | DIRECT WRITTEN PREMIUMS | DIRECT PREMIUMS EARNED | DIRECT LOSS TO EP RATIO | MARKET SHARE % | CUMULATIVE MARKET SHARE % | |
|---|---|---|---|---|---|---|---|
 | 1. | CHUBB LTD GRP | 9,244,772,096 | 9,099,724,813 | 63.57 | 7.64 | 7.64 |
 | 2. | TRAVELERS GRP | 5,579,146,903 | 5,419,756,095 | 69.31 | 4.61 | 12.25 |
 | 3. | BERKSHIRE HATHAWAY GRP | 5,511,906,880 | 5,732,521,537 | 54.14 | 4.56 | 16.81 |
 | 4. | LIBERTY MUT GRP | 5,032,213,422 | 5,146,328,624 | 69.50 | 4.16 | 20.97 |
 | 5. | FAIRFAX FIN GRP | 4,895,317,437 | 4,890,501,859 | 60.71 | 4.05 | 25.02 |
 | 6. | WR BERKLEY CORP GRP | 4,842,327,090 | 4,589,796,723 | 54.69 | 4.00 | 29.02 |
 | 7. | AXA INS GRP | 4,361,616,761 | 4,469,113,795 | 60.05 | 3.61 | 32.62 |
 | 8. | AMERICAN INTL GRP | 4,200,830,886 | 4,341,629,204 | 57.04 | 3.47 | 36.10 |
 | 9. | CNA INS GRP | 4,124,234,871 | 4,071,667,268 | 54.38 | 3.41 | 39.51 |
 | 10. | MARKEL CORP GRP | 3,994,573,621 | 3,890,061,543 | 67.92 | 3.30 | 42.81 |
 | 11. | HARTFORD FIRE & CAS GRP | 3,347,414,392 | 3,252,414,743 | 54.03 | 2.77 | 45.58 |
 | 12. | ZURICH INS GRP | 3,308,447,714 | 3,249,672,494 | 82.86 | 2.73 | 48.31 |
 | 13. | NATIONWIDE CORP GRP | 2,929,808,639 | 3,051,196,867 | 60.46 | 2.42 | 50.73 |
 | 14. | AMERICAN FINANCIAL GRP | 2,557,153,930 | 2,528,469,052 | 52.20 | 2.11 | 52.85 |
 | 15. | TOKIO MARINE HOLDINGS INC GRP | 2,504,451,977 | 2,540,701,243 | 64.57 | 2.07 | 54.92 |
 | 16. | SOMPO GRP | 2,241,849,890 | 2,231,015,418 | 75.18 | 1.85 | 56.77 |
 | 17. | STARR GRP | 2,057,729,807 | 1,985,924,723 | 102.67 | 1.70 | 58.47 |
 | 18. | ARCH INS GRP | 2,020,583,897 | 1,982,619,954 | 50.11 | 1.67 | 60.14 |
 | 19. | EVEREST REINS HOLDINGS GRP | 1,974,590,322 | 1,959,334,739 | 58.90 | 1.63 | 61.77 |
 | 20. | ASSURANT INC GRP | 1,967,545,562 | 1,975,382,747 | 64.87 | 1.63 | 63.40 |
 | 21. | AXIS CAPITAL GRP | 1,939,409,011 | 1,904,652,518 | 75.63 | 1.60 | 65.00 |
 | 22. | CINCINNATI FIN GRP | 1,753,380,531 | 1,726,693,354 | 52.44 | 1.45 | 66.45 |
 | 23. | ALLIANZ INS GRP | 1,742,115,213 | 1,668,113,539 | 88.39 | 1.44 | 67.89 |
 | 24. | SELECTIVE INS GRP | 1,397,904,992 | 1,314,186,258 | 50.22 | 1.16 | 69.05 |
 | 25. | STATE FARM GRP | 1,378,383,113 | 1,310,091,091 | 146.18 | 1.14 | 70.19 |
| INDUSTRY TOTALS | 120,973,970,220 | 118,634,023,318 | 62.84 | 100.00 | 100.00 |
Links to our 2024 NAIC Market Share Reports
For those interested in revisiting or comparing this year’s data with the NAIC Market Share Reports from last year, links to each of those reports are below:
- NAIC 2024 Market Share Report | Top 25 U.S. P&C Insurers
- NAIC 2024 Market Share Report | Top 25 Homeowners Multiple Peril Insurers
- NAIC Market Share Report 2024 | Top 25 Workers’ Compensation Insurers
Links to our 2023 NAIC Market Share Reports
- 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. 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
