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).
The following is a chart using data from the NAIC which shows the Market Share by Line of Business of the top seven lines of insurance in the U.S.
Market Share by Line of Business
A chart ranking the seven major lines of insurance by market share from data collected by the NAIC. The following is the total Direct Written Premium for each of these lines as of March 14, 2021.
The current make-up of the P&C insurance marketplace
With approximately 97.77% of all property and casualty insurance companies having fulfilled their reporting requirements to the NAIC, the Association announced that so far, direct premiums written for the all lines of business within the U.S. totalled approximately $792,457,778,307 in 2021. Of that amount, the top 10 P&C insurers who have reported thus far represent a cumulative market share of 66.90%.
With respect to the top 25 Property & Casualty Insurers All Lines, these insurers have a total of Direct Premiums Written of approximately $792,457,778,307, while the top 10 have a combined Direct Premiums Written total of $530,159,470,893 representing a cumulative market share of 47.66%.
The Top 25 P&C Insurers by Countrywide Premium – All Lines
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 14, 2022 and may differ from the original publishing of this report.
|RANK||COMPANY NAME||DIRECT PREMIUMS WRITTEN||DIRECT PREMIUMS EARNED||DIRECT LOSS TO EP RATIO||MARKET SHARE||CUMULATIVE MARKET SHARE|
|1.||State Farm Group||$70,311,694,695||$67,864,085,366||70.72||8.87%||8.87%|
|2.||Berkshire Hathaway Group||$51,603,817,860||$50,073,595,442||70.57||6.51%||15.38%|
|5.||Liberty Mutual Group||$39,022,756,847||$37,540,844,760||63.60||4.92%||31.56%|
|7.||Chubb Ltd. Group||$26,983,034,399||$26,118,498,856||58.92||3.40%||38.86%|
|9.||Farmers Insurance Group||$25,009,069,025||$24,492,747,411||64.21||3.16%||45.21%|
|10.||Nationwide Corp Group||$19,435,640,789||$18,906,814,579||63.87||2.45%||47.66%|
|11.||Zurich Insurance Group||$15,015,664,395||$14,520,381,333||60.70||1.89%||49.55%|
|13.||Hartford Fire & Cas Group||$13,557,707,379||$13,082,994,694||54.81||1.71%||53.12%|
|14.||CNA Insurance Group||$12,599,389,828||$12,020,600,724||59.24||1.59%||54.71%|
|15.||American Family Insurance Group||$12,579,932,096||$12,041,755,814||62.34||1.59%||56.30%|
|16.||Tokio Marine Holdings Inc. Group||$10,141,841,503||$9,616,676,758||66.27||1.28%||57.58%|
|18.||Fairfax Insurance Group||$9,575,851,012||$8,687,111,888||56.55||1.21%||60.04%|
|19.||Assurant Inc. Group||$8,919,452,914||$8,617,052,090||51.78||1.13%||61.16%|
|20.||WR Berkley Corp. Group||$8,263,301,349||$7,644,732,744||50.17||1.04%||62.20%|
|21.||Erie Insurance Group||$7,868,311,337||$7,721,339,246||64.98||0.99%||63.20%|
|22.||AXA Insurance Group||$7,772,624,410||$7,387,119,081||60.02||0.98%||64.18%|
|23.||American Financial Group||$7,595,159,952||$7,360,066,717||48.49||0.96%||65.14%|
|24.||Markel Corp. group||$7,418,742,223||$6,817,824,344||55.51||0.94%||66.07%|