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 Other Liability Marketplace
- The Direct Premiums for the Other Liability insurance marketplace totalled $119,125,341,425, while Total Premiums Earned was $114,276,251,454, making it the fourth-largest insurance marketplace in the U.S.
- Chubb is the largest insurer in this marketplace with $8,966,084,672 in Direct Premiums Written representing an 7.53% market share.
- The top three Other Liability insurers in the U.S are : Chubb; Berkshire Hathaway; and Liberty Mutual. Together they have a cumulative market share of 17.20%.
- The top five P&C insurers which includes Travelers and Fairfax, in addition to the above top three, have a cumulative market share of 25.85%, while the top ten claim just under half of the marketplace with a cumulative market share of 43.72%.
- With respect to the top 25 Property & Casualty Insurers All Lines, the total market share of this group is 72.29%
- Liberty Mutual is the only Massachusetts-based insurer listed in this group.
The Top 25 Other Liability Insurers
| RANK | GROUP/COMPANY NAME | DIRECT PREMIUMS WRITTEN ($) | DIRECT PREMIUMS EARNED ($) | DIRECT LOSS TO EP RATIO¹ | MARKET SHARE % | CUMULATIVE MARKET SHARE % | |
|---|---|---|---|---|---|---|---|
 | 1. | CHUBB LTD GRP | 8,966,084,672 | 8,764,766,803 | 57.67 | 7.53 | 7.53 |
 | 2. | BERKSHIRE HATHAWAY GRP | 6,039,027,423 | 5,849,246,774 | 59.53 | 5.07 | 12.60 |
 | 3. | LIBERTY MUT GRP | 5,484,513,747 | 5,346,247,130 | 75.15 | 4.60 | 17.20 |
 | 4. | TRAVELERS GRP | 5,197,486,022 | 4,989,146,571 | 59.81 | 4.36 | 21.56 |
 | 5. | FAIRFAX FIN GRP | 5,106,195,454 | 4,844,101,532 | 52.44 | 4.29 | 25.85 |
 | 6. | AXA INS GRP | 4,516,115,738 | 4,754,607,449 | 68.38 | 3.79 | 29.64 |
 | 7. | WR BERKLEY CORP GRP | 4,495,415,742 | 4,302,870,383 | 50.21 | 3.77 | 33.41 |
 | 8. | ASSURANT INC GRP | 4,170,144,371 | 3,959,036,648 | 64.40 | 3.50 | 36.91 |
 | 9. | AMERICAN INTL GRP | 4,146,501,629 | 4,262,286,540 | 72.82 | 3.48 | 40.40 |
 | 10. | CNA INS GRP | 3,961,693,289 | 3,751,902,810 | 53.88 | 3.33 | 43.72 |
 | 11. | MARKEL CORP GRP | 3,820,196,585 | 3,571,788,701 | 53.74 | 3.21 | 46.93 |
 | 12. | ZURICH INS GRP | 3,222,271,189 | 3,140,644,960 | 110.08 | 2.70 | 49.63 |
 | 13. | HARTFORD FIRE & CAS GRP | 3,162,700,012 | 3,013,833,810 | 63.67 | 2.65 | 52.29 |
 | 14. | NATIONWIDE CORP GRP | 3,155,437,675 | 3,071,232,427 | 50.00 | 2.65 | 54.94 |
 | 15. | AMERICAN FINANCIAL GRP | 2,501,260,385 | 2,448,563,923 | 52.29 | 2.10 | 57.04 |
 | 16. | TOKIO MARINE HOLDINGS INC GRP | 2,469,795,386 | 2,492,442,327 | 69.55 | 2.07 | 59.11 |
 | 17. | SOMPO GRP | 2,177,525,970 | 2,113,786,224 | 54.56 | 1.83 | 60.94 |
 | 18. | EVEREST REINS HOLDINGS GRP | 2,007,063,731 | 1,899,630,007 | 62.78 | 1.68 | 62.62 |
 | 19. | ARCH INS GRP | 1,943,982,058 | 1,829,206,046 | 49.27 | 1.63 | 64.25 |
 | 20. | STARR GRP | 1,933,055,023 | 1,797,362,803 | 76.66 | 1.62 | 65.88 |
 | 21. | AXIS CAPITAL GRP | 1,911,562,625 | 1,861,995,281 | 61.34 | 1.60 | 67.48 |
 | 22. | CINCINNATI FIN GRP | 1,680,515,633 | 1,623,748,668 | 55.82 | 1.41 | 68.89 |
 | 23. | ALLIANZ INS GRP | 1,581,201,756 | 1,549,415,393 | 61.66 | 1.33 | 70.22 |
 | 24. | STATE FARM GRP | 1,240,610,800 | 1,192,693,079 | 97.01 | 1.04 | 71.26 |
 | 25. | SELECTIVE INS GRP | 1,220,493,909 | 1,153,337,953 | 47.69 | 1.02 | 72.29 |
| INDUSTRY TOTAL | 119,125,341,425 | 114,276,251,454 | 60.54 | 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. 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. 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
