Top 25 insurance companies in USA
The country’s main 25 property/loss insurance agencies guarantee close to 66% of the complete market and composed more than $725 billion in premiums in 2020 – up from $708 billion in 2019, as per the most recent information from the National Association of Insurance Commissioners (NAIC).
Yet again state Farm Group is the biggest property/setback insurance agency in the US, addressing 9.12% of the market and composing $66.1 billion in direct expenses – almost $20 billion a greater number of than its closest rival, Berkshire Hathaway ($46.1 billion), the name behind GEICO.
Freedom Mutual, Allstate, and Progressive moved their piece of the pie contrasted with 2020, with Progressive driving the threesome with a portion of 5.75%.
Further down the main 10 rankings, Chubb held the eighth spot, with its immediate expenses composed expanding from $23.3 billion of 2019 to $24 billion last year. USAA Insurance Group, in the meantime, got the seventh spot, supporting its immediate expenses composed from $23.4 billion in 2019 to $24.6 billion of 2019.
The 25 greatest property/loss insurance gatherings, by direct payments composed and a portion of the overall industry, are:
- State Farm
Direct Premiums Written: $66.1 billion
Piece of the pie: 9.12%
- Berkshire Hathaway
Direct Premiums Written: $46.1 billion
Piece of the pie: 6.37%
- Moderate Group
Direct Premiums Written: $41.7 billion
Piece of the pie: 5.75%
- Freedom Mutual
Direct Premiums Written: $36.1 billion
Piece of the pie: 4.99%
- Allstate
Direct Premiums Written: $34.3 billion
Piece of the pie: 4.73%
- Explorers Group
Direct Written Premiums: $28.7 billion
A portion of the overall industry: 3.97%
- USA
Direct Written Premiums: $24.6 billion
The portion of the overall industry: 3.39%
- Chubb
Direct Written Premiums: $24 billion
The portion of the overall industry: 3.32%
- Ranchers Insurance
Direct Written Premiums: $20 billion
The portion of the overall industry: 2.77%
- Across the country
Direct Written Premiums: $18.5 billion
The portion of the overall industry: 2.55%
- Zurich
Direct Written Premiums: $13.6 billion
Piece of the pie: 1.88%
- AIG
Direct Written Premiums: $13.4 billion
Piece of the pie: 1.85%
- The Hartford
Direct Written Premiums: $12.4 billion
The portion of the overall industry: 1.71%
- CNA
Direct Written Premiums: $11.7 billion
The portion of the overall industry: 1.62%
- American Family Insurance
Direct Written Premiums: $11.3 billion
The portion of the overall industry: 1.56%
- Auto-Owners Group
Direct Written Premiums: $9.3 billion
The portion of the overall industry: 1.28%
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- Assurant
Direct Written Premiums: $8.3 billion
The portion of the overall industry: 1.14%
- Tokio Marine
Direct Written Premiums: $7.7 billion
Piece of the pie: 1.06%
- Erie Insurance
Direct Written Premiums: $7.6 billion
Piece of the pie: 1.05%
- Fairfax Financial
Direct Written Premiums: $7.6 billion
The portion of the overall industry: 1.05%
- AXA
Direct Written Premiums: $7 billion
The portion of the overall industry: 0.97%
- WR Berkley
Direct Written Premiums: $6.8 billion
The portion of the overall industry: 0.94%
- American Financial Group/Great American Insurance Group
Direct Written Premiums: $6.7 billion
The portion of the overall industry: 0.92%
- Markel Corporation
Direct Written Premiums: $6 billion
The portion of the overall industry: 0.83%
- Cincinnati Financial
Direct Written Premiums: $5.5 billion
Piece of the pie: 0.77%
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As per the Insurance Information Institute (III), US insurance industry net payments composed added up to $1.28 trillion of every 2020, with installments recorded by property/loss guarantors representing 51% and installments by wellbeing/life safety net providers representing 49%.
P/C protection incorporates auto, mortgage holders, and business protection. Net expenses composed for the area added up to $652.8 billion last year. In the meantime, the life/annuity insurance area incorporates annuities, mishap and wellbeing, and disaster protection with net payments for the area adding up to $240 billion every 2020. The two figures are taken from the Insurance Information Institute.
The US protection industry utilized 2.9 million individuals in 2020, as per the US Department of Labor. Of those, 1.7 million worked for an insurance agency, including life and wellbeing guarantors (962,500 specialists), P/C safety net providers (665,900 laborers), and reinsurers (27,300 laborers). The excess 1.2 million individuals worked for protection organizations, specialists, and other protection-related ventures.
(Refreshed September 20, 2021)
