The Top 10 P&C Insurers Have a Combined Market Share of 47.90%
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 compiled into a report listing the 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).
With approximately 97.92% of P&C insurers reporting, the industry recorded approximately $1.06 trillion in Direct Premiums Written in 2024. The top 10 P&C insurers account for 51.40% of the total market share, reflecting a continued concentration of market share among the largest carriers.
Private passenger auto insurance remains the dominant line of business, with $344.11 billion in direct premiums written, representing approximately 35% of all reported P&C premiums.
5 Key takeaways from this year’s Property & Casualty report
In analyzing this year’s data with last year’s, Chat GPT highlights five key data points worth noting:
1. State Farm’s Dominance Strengthens
State Farm maintained its position as the top insurer, increasing its direct premiums written by $15.19 billion (16.2%), from $93.79 billion in 2023 to $108.98 billion in 2024.
2. Progressive Sees the Largest Percentage Increase Among Top Insurers
Progressive experienced a significant 21% growth in direct premiums written, rising from $62.71 billion in 2023 to $75.88 billion in 2024, marking the highest percentage increase among the leading insurers.
3. Allstate Also Shows Strong Growth
Allstate increased its direct premiums written by $5.82 billion (11.6%), growing from $50.04 billion in 2023 to $55.86 billion in 2024.
4. USAA Expands Significantly
United Services Automobile Association (USAA) saw its direct premiums written rise by $4.13 billion (12.9%), from $32.00 billion in 2023 to $36.13 billion in 2024.
5. Berkshire Hathaway Has Single Digit Growth
Berkshire Hathaway’s direct premiums written grew by $3.61 billion (6.1%), increasing from $59.67 billion in 2023 to $63.28 billion in 2024, reinforcing its strong presence in the insurance market.
The Top 25 P&C Insurers by Countrywide Premium – All Lines
| RANK | GROUP/COMPANY NAME | DIRECT PREMIUMS WRITTEN | DIRECT PREMIUMS EARNED | DIRECT LOSS TO EP RATIO¹ | MARKET SHARE % | CUMULATIVE MARKET SHARE %³ | |
|---|---|---|---|---|---|---|---|
 | 1 | STATE FARM GRP | $108,982,080,437 | $104,207,362,749 | 75.24% | 10.31% | 10.31% |
 | 2 | PROGRESSIVE GRP | $75,884,809,416 | $72,159,533,561 | 60.63% | 7.18% | 17.50% |
 | 3 | BERKSHIRE HATHAWAY GRP | $63,279,826,760 | $62,597,109,078 | 62.07% | 5.99% | 23.49% |
 | 4 | ALLSTATE INS GRP | $55,859,006,450 | $53,787,917,843 | 64.52% | 5.29% | 28.77% |
 | 5 | LIBERTY MUT GRP | $44,138,829,399 | $44,986,697,372 | 60.84% | 4.18% | 32.95% |
 | 6 | TRAVELERS GRP | $41,921,555,049 | $40,529,337,004 | 54.06% | 3.97% | 36.92% |
 | 7 | UNITED SERV AUTOMOBILE ASSN GRP | $36,134,505,514 | $34,866,623,107 | 69.23% | 3.42% | 40.34% |
 | 8 | CHUBB LTD GRP | $33,114,493,397 | $32,293,373,770 | 58.39% | 3.13% | 43.47% |
 | 9 | FARMERS INS GRP | $28,288,708,813 | $27,915,125,163 | 55.43% | 2.68% | 46.15% |
 | 10 | ZURICH INS GRP | $18,565,276,991 | $18,212,721,720 | 65.11% | 1.76% | 47.90% |
 | 11 | NATIONWIDE CORP GRP | $17,693,030,666 | $18,467,969,533 | 59.20% | 1.67% | 49.58% |
 | 12 | AMERICAN FAMILY INS GRP | $17,618,189,874 | $16,757,353,609 | 62.30% | 1.67% | 51.25% |
 | 13 | HARTFORD FIRE & CAS GRP | $17,421,661,903 | $16,723,338,752 | 54.39% | 1.65% | 52.90% |
 | 14 | AMERICAN INTL GRP | $16,115,151,961 | $15,851,267,968 | 53.12% | 1.53% | 54.42% |
 | 15 | AUTO OWNERS GRP | $15,891,440,266 | $14,580,491,589 | 66.83% | 1.50% | 55.92% |
 | 16 | CNA INS GRP | $14,392,563,725 | $13,909,679,014 | 63.28% | 1.36% | 57.29% |
 | 17 | TOKIO MARINE HOLDINGS INC GRP | $12,660,220,589 | $12,288,113,199 | 53.40% | 1.20% | 58.49% |
 | 18 | ERIE INS GRP | $11,950,796,642 | $11,014,624,651 | 73.82% | 1.13% | 59.62% |
 | 19 | FAIRFAX FIN GRP | $11,596,650,477 | $11,566,290,523 | 58.48% | 1.10% | 60.71% |
 | 20 | WR BERKLEY CORP GRP | $10,995,656,633 | $10,549,382,326 | 53.13% | 1.04% | 61.75% |
 | 21 | AMERICAN FINANCIAL GRP | $9,763,603,347 | $9,596,573,671 | 61.91% | 0.92% | 62.68% |
 | 22 | MARKEL GRP | $9,669,062,205 | $9,340,668,576 | 61.54% | 0.92% | 63.59% |
 | 23 | CINCINNATI FIN GRP | $8,641,911,908 | $8,019,473,315 | 51.67% | 0.82% | 64.41% |
 | 24 | AUTO CLUB ENTERPRISES INS GRP | $8,146,853,255 | $7,563,042,929 | 73.76% | 0.77% | 65.18% |
 | 25 | AXA INS GRP | $7,697,206,391 | $7,559,831,645 | 57.25% | 0.73% | 65.91% |
| INDUSTRY TOTAL | $1.06 Trillion | $1.02 Trillion | 61.85% | 100.00% | 100.00% |
Past NAIC Market Share Reports
For those interested in revisiting or comparing this year’s data with the NAIC Market Share Reports from past years, links to each of those reports are below:
Links to our 2025 NAIC Market Share Reports
- NAIC 2025 Market Share | Top 25 Private Passenger Auto Insurers
- NAIC 2025 Market Share Report | Top 25 Homeowners’ Insurers
Links to our 2024 NAIC Market Share Reports
- 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 Commercial 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
- The Top 25 Life Insurance Companies in the U.S.
