Progressive Tops The List As The Largest Commercial Auto Insurer In The Land
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 Facts From This Year’s Commercial Auto 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.
As for the Commercial Auto Insurance marketplace, the industry total of Direct Written Premiums for this line of insurance was $61,567,165,152. The top 25 insurers in this line of business had a combined total of Direct Premiums Earned of $42,846,858,220, representing a combined market share of 66.93%.
Sitting atop this year’s list is Progressive Insurance, claiming a 15.18% share of the market based on Direct Premiums Written totalling $9,716,926,679 and $9,554,317,571 in Direct Premiums Earned. Two New England insurers follow directly after Progressive, with Travelers ranked the second largest followed by Liberty Mutual in third place. Later down the list, Connecticut-based The Hartford comes in as the 12th largest Commercial Auto insurer.
The Top 25 P&C Insurers by Countrywide Premium – Commercial Auto
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 | COMPANY NAME | DIRECT PREMIUMS WRITTEN | DIRECT PREMIUMS EARNED | MARKET SHARE % | CUMULATIVE MARKET SHARE % | |
|---|---|---|---|---|---|---|
 | 1. | PROGRESSIVE GRP | 9,716,926,679 | 9,554,317,571 | 15.18 | 15.18 |
 | 2. | TRAVELERS GRP | 3,441,405,342 | 3,305,589,457 | 5.38 | 20.55 |
 | 3. | LIBERTY MUT GRP | 2,716,060,083 | 2,552,748,710 | 4.24 | 24.80 |
 | 4. | OLD REPUBLIC GRP | 2,502,163,209 | 2,347,318,72 | 3.91 | 28.71 |
 | 5. | ZURICH INS GRP | 2,099,052,957 | 1,995,924,878 | 3.28 | 31.99 |
 | 6. | BERKSHIRE HATHAWAY GRP | 1,951,535,136 | 1,804,053,339 | 3.05 | 35.03 |
 | 7. | AUTO OWNERS GRP | 1,843,846,507 | 1,716,764,366 | 2.88 | 37.91 |
 | 8. | STATE FARM GRP | 1,674,411,299 | 1,415,340,424 | 2.62 | 40.53 |
 | 9. | WR BERKLEY CORP GRP | 1,362,619,305 | 1,292,128,633 | 2.13 | 42.66 |
 | 10. | NATIONWIDE CORP GRP | 1,241,900,191 | 1,490,307,563 | 1.94 | 44.60 |
 | 11. | CHUBB LTD GRP | 1,240,452,055 | 1,217,410,401 | 1.94 | 46.54 |
 | 12. | HARTFORD FIRE & CAS GRP | 1,203,621,763 | 1,131,536,632 | 1.88 | 48.42 |
 | 13. | AMERICAN INTL GRP | 1,144,879,228 | 1,068,764,864 | 1.79 | 50.20 |
 | 14. | AMERICAN FINANCIAL GRP | 1,045,676,141 | 1,029,336,121 | 1.63 | 51.84 |
 | 15. | SELECTIVE INS GRP | 1,010,638,687 | 947,400,331 | 1.58 | 53.42 |
 | 16. | FAIRFAX FIN GRP | 1,009,721,645 | 955,608,788 | 1.58 | 54.99 |
 | 17. | TOKIO MARINE HOLDINGS INC GRP | 975,559,001 | 935,654,773 | 1.52 | 56.52 |
 | 18. | SENTRY INS GRP | 931,455,489 | 900,939,382 | 1.46 | 57.97 |
 | 19. | ERIE INS GRP | 891,287,991 | 839,340,835 | 1.39 | 59.37 |
 | 20. | CINCINNATI FIN GRP | 877,527,624 | 860,425,170 | 1.37 | 60.74 |
 | 21. | CNA INS GRP | 874,464,464 | 794,928,786 | 1.37 | 62.10 |
 | 22. | ALLSTATE INS GRP | 842,197,327 | 909,239,014 | 1.32 | 63.42 |
 | 23. | ACUITY A MUT INS CO | 810,563,816 | 769,757,401 | 1.27 | 64.68 |
 | 24. | FEDERATED MUT GRP | 733,644,000 | 700,129,079 | 1.15 | 65.83 |
 | 25. | ARCH INS GRP | 705,248,281 | 651,287,295 | 1.10 | 66.93 |
| INDUSTRY TOTAL | 64,015,981,217 | 61,567,165,152 | 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 Private Passenger Auto Insurers
- NAIC 2024 Market Share Report | Top 25 Homeowners Multiple Peril Insurers
- NAIC Market Share Report 2024 | Top 25 Workers’ Compensation Insurers
- NAIC 2024 Market Share Report | Top 25 Other Liability 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
