Three of the Top 25 Private Passenger Auto Insurers Are Based in Massachusetts
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 Private Passenger 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.
With respect to the Private Passenger Auto Insurance marketplace, the industry total in terms of Direct Written Premiums was $316,655,004,802 with Direct Premiums Earned totalling $303,504,595,689. As for the Top 25 insurers, Direct Written Premiums totalled $280,385,491,129 translating into a cumulative market share representing of 88.55%.
Breaking down this cohort even further, the Top 10 insurers with the largest amounts of Direct Premiums Written wrote a total of $280,385,491,129 claiming a cumulative share of the market of 76.81%. The Top Five had a total of $197,891,991,369 in Direct Premiums Written representing approximately 62.49% of the total market.
Six of the Top 25 Private Passenger Auto insurers call New England their home with three of the top 25 basing their operations out of Massachusetts. They are as follows: Liberty Mutual; Travelers; The Hartford; The Hanover; MAPFRE; and Amica.
The Top 25 P&C Insurers by Countrywide Premium – Private Passenger 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. | STATE FARM GRP | 57,974,270,313 | 54,812,500,326 | 18.31 | 18.31 |
 | 2. | PROGRESSIVE GR | 48,255,874,744 | 45,888,459,482 | 15.24 | 33.55 |
 | 3. | BERKSHIRE HATHAWAY GRP | 38,965,761,608 | 38,383,695,986 | 12.31 | 45.85 |
 | 4. | ALLSTATE INS GRP | 32,848,168,906 | 31,863,541,999 | 10.37 | 56.23 |
 | 5. | UNITED SERV AUTOMOBILE ASSN GRP | 19,847,915,798 | 18,829,720,871 | 6.27 | 62.49 |
 | 6. | LIBERTY MUT GRP | 13,312,836,211 | 13,397,699,748 | 4.20 | 66.70 |
 | 7. | FARMERS INS GRP | 13,221,687,478 | 13,012,949,538 | 4.18 | 70.87 |
 | 8. | AMERICAN FAMILY INS GRP | 6,790,422,620 | 6,472,156,323 | 2.14 | 73.02 |
 | 9. | TRAVELERS GRP | 6,578,946,202 | 6,224,210,574 | 2.08 | 75.10 |
 | 10. | NATIONWIDE CORP GRP | 5,413,758,272 | 5,476,444,556 | 1.71 | 76.81 |
 | 11. | AUTO CLUB ENTERPRISES INS GRP | 4,829,407,595 | 4,418,149,556 | 1.53 | 78.33 |
 | 12. | AUTO OWNERS GRP | 4,250,282,927 | 3,844,453,237 | 1.34 | 79.67 |
 | 13. | ERIE INS GRP | 4,240,246,199 | 3,894,226,424 | 1.34 | 81.01 |
 | 14. | CSAA INS GRP | 3,817,542,892 | 3,394,492,591 | 1.21 | 82.22 |
 | 15. | KEMPER CORP GRP | 2,950,213,392 | 3,179,247,842 | 0.93 | 83.15 |
 | 16. | MERCURY GEN GRP | 2,819,068,632 | 2,777,229,682 | 0.89 | 84.04 |
 | 17. | AUTOMOBILE CLUB MI GRP | 2,256,739,042 | 2,150,770,877 | 0.71 | 84.75 |
 | 18. | HARTFORD FIRE & CAS GRP | 2,126,384,701 | 2,060,826,798 | 0.67 | 85.42 |
 | 19. | SENTRY INS GRP | 1,561,955,415 | 1,493,411,128 | 0.49 | 85.92 |
 | 20. | THE HANOVER INS GRP | 1,443,149,144 | 1,403,302,826 | 0.46 | 86.37 |
 | 21. | MAPFRE INS GRP | 1,402,535,796 | 1,340,757,662 | 0.44 | 86.82 |
 | 22. | ALFA INS GRP | 1,387,691,210 | 1,304,874,345 | 0.44 | 87.25 |
 | 23. | AMICA MUT GRP | 1,383,042,128 | 1,325,196,113 | 0.44 | 87.69 |
 | 24. | COUNTRY INS & FIN SERV GRP | 1,369,040,202 | 1,319,947,246 | 0.43 | 88.12 |
 | 25. | SOUTHERN FARM BUREAU CAS GRP | 1,338,549,702 | 1,279,119,571 | 0.42 | 88.55 |
| INDUSTRY TOTAL | 316,655,004,802 | 303,504,595,689 | 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
- 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
