Top insurance companies in the US : Top 20 property and casualty insurance companies in the US.

Today i written about Top insurance companies in the US. The nation’s top property and casualty insurance companies claim almost two-thirds of the total market and wrote more than $830 billion in premium in 2021– up from $725 billion in 2020. There i show Top insurance companies in the US

There according to the latest data from the National Association of Insurance Commissioners (NAIC)

And Liberty Mutual, Allstate, and Progressive moved their market share compared to 2021, with Progressive leading the trio with a share of 4.09%.

Berkshire Hathaway Group is once again the largest property/casualty insurance company in the US, representing 8.21% of the market and writing $59.7 billion in direct premiums – nearly $23 billion more than its nearest competitor, State Farm ($53.8 billion).

Further down the top 10 rankings, Chubb retained the eight spot, with its direct premiums written increasing from $31.13 billion in 2020 to $27 billion last year. USAA Insurance Group, meanwhile, secured seventh place, boosting its direct premiums written from $33.2 billion in 2019 to $23.1 billion in last year.

Top insurance companies in the US.

Below I have highlighted Top insurance companies in the US. information of top 5 such property casualty insurance groups companies:

1.Berkshire Hathaway

Direct Premiums Written: $46.1 billion
Market Share: 7.01% is a 1st Top insurance companies in the US.
Berkshire Hathaway Inc. is a multinational conglomerate holding company, run by the “Oracle of Omaha,” Warren Buffett. The Omaha-domiciled holding company owns more than 60 subsidiaries, including leading insurer GEICO, battery maker Duracell and food giant Kraft Heinz. Insurance subsidiaries make up a significant part of the Buffett empire.

2. State Farm

Direct Premiums Written: $66.1 billion
Market Share: 8.23% is a 2nd Top insurance companies in the US. Founded in 1922, State Farm is a large group of insurance and financial services firms based in the US. The group’s parent company is State Farm Mutual Automobile Insurance Company, which is a mutual insurance company based in Bloomington, Illinois. State Farm is best known for offering property and casualty (P&C) insurance products, especially in personal lines. According to SNL Financial Data, State Farm insures more cars and homes than any other insurer in the US. 

3. Progressive Group

Direct Premiums Written: $41.7 billion
Market Share: 5.75% is a 3rd Top insurance companies in the US. The Progressive Group of Insurance Companies (Progressive) is one of the most popular insurance brands in the US. The insurance juggernaut claims to be the third largest auto insurer and the number one motorcycle/specialty RV insurer in the country. Progressive rubs shoulders with firms like State Farm, Allstate, GEICO, and Farmers Insurance Group, and writes more than 13 million auto policies per year.

4. Liberty Mutual

Direct Premiums Written: $36.1 billion
Market Share: 4.99% is a 4th Top insurance companies in the US. In business since 1912, and headquartered in Boston, today we are the sixth-largest global property and casualty insurer based on 2020 gross written premium. We also rank 77th on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue. As of December 31, 2020, we had $43.8 billion in annual consolidated revenue.

5. Allstate

Direct Premiums Written: $34.3 billion
Market Share: 4.73% is a 5th Top insurance companies in the US. In business since 1912, and headquartered in Boston, today we are the sixth-largest global property and casualty insurer based on 2020 gross written premium. We also rank 77th on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue. As of December 31, 2020, we had $43.8 billion in annual consolidated revenue.

Read more:

Ways to make income online with mobile.

Bangla Blog Site: Popular blog site in Bangladesh

Robi Minute Offer: Rules for buying minutes on Robi

According to the Insurance Information Institute (III), US insurance industry net premiums written totaled $1.28 trillion in 2020, with premiums recorded by property/casualty insurers accounting for 51% and premiums by health/life insurers accounting for 49%.

How to make income from blog sites!

The US insurance industry employed 2.9 million people in 2020, according to the US Department of Labor. Of those, 1.7 million worked for insurance companies, including life and health insurers (962,500 workers), P/C insurers (665,900 workers), and reinsurers (27,300 workers). The remaining 1.2 million people worked for insurance agencies, brokers, and other insurance-related enterprises.

P/C insurance includes auto, homeowners and commercial insurance. Net premiums written for the sector totaled $652.8 billion last year. Meanwhile, the life/annuity insurance sector includes annuities, accident and health, and life insurance with net premiums for the sector totaling $240 billion in 2020. Both figures are taken from the Insurance Information Institute.

Here highlighted some Top insurance companies in the US. another top 15 such property and casualty insurance groups companies: 

1. Travelers Group

Direct Written Premiums: $28.7 billion
Market Share: 3.97%

2. USAA

Direct Written Premiums: $24.6 billion
Market Share: 3.39%

3. Chubb

Direct Written Premiums: $24 billion
Market Share: 3.32%

4. Farmers Insurance

Direct Written Premiums: $20 billion
Market Share: 2.77%

5. Nationwide

Direct Written Premiums: $18.5 billion
Market Share: 2.55%

6. Zurich

Direct Written Premiums: $13.6 billion
Market Share: 1.88%

7. AIG

Direct Written Premiums: $13.4 billion
Market Share: 1.85%

8. The Hartford

Direct Written Premiums: $12.4 billion
Market Share: 1.71%

9. CNA

Direct Written Premiums: $11.7 billion
Market Share: 1.62%

10. American Family Insurance

Direct Written Premiums: $11.3 billion
Market Share: 1.56%

11. Auto-Owners Group

Direct Written Premiums: $9.3 billion
Market Share: 1.28%

12. Assurant

Direct Written Premiums: $8.3 billion
Market Share: 1.14%

13. Tokio Marine

Direct Written Premiums: $7.7 billion
Market Share: 1.06%

14.Fairfax Financial

Direct Written Premiums: $7.6 billion
Market Share: 1.05%

15.Erie Insurance

Direct Written Premiums: $7.6 billion
Market Share: 1.05%

 

3 thoughts on “Top insurance companies in the US : Top 20 property and casualty insurance companies in the US.”

Leave a Comment