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Top 25 insurance companies in USA

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%.

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Top 25 insurance companies in USA

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:

  1. State Farm

Direct Premiums Written: $66.1 billion

Piece of the pie: 9.12%

 

  1. Berkshire Hathaway

Direct Premiums Written: $46.1 billion

Piece of the pie: 6.37%

  1. Moderate Group

Direct Premiums Written: $41.7 billion

Piece of the pie: 5.75%

 

  1. Freedom Mutual

Direct Premiums Written: $36.1 billion

Piece of the pie: 4.99%

  1. Allstate

Direct Premiums Written: $34.3 billion

Piece of the pie: 4.73%

 

  1. Explorers Group

Direct Written Premiums: $28.7 billion

A portion of the overall industry: 3.97%

 

  1. USA

Direct Written Premiums: $24.6 billion

The portion of the overall industry: 3.39%

Top 10 Insurance Companies by the Metrics

  1. Chubb

Direct Written Premiums: $24 billion

The portion of the overall industry: 3.32%

 

  1. Ranchers Insurance

Direct Written Premiums: $20 billion

The portion of the overall industry: 2.77%

  1. Across the country

Direct Written Premiums: $18.5 billion

The portion of the overall industry: 2.55%

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  1. Zurich

Direct Written Premiums: $13.6 billion

Piece of the pie: 1.88%

 

  1. AIG

Direct Written Premiums: $13.4 billion

Piece of the pie: 1.85%

 

  1. The Hartford

Direct Written Premiums: $12.4 billion

The portion of the overall industry: 1.71%

  1. CNA

Direct Written Premiums: $11.7 billion

The portion of the overall industry: 1.62%

 

  1. American Family Insurance

Direct Written Premiums: $11.3 billion

The portion of the overall industry: 1.56%

 

  1. Auto-Owners Group

Direct Written Premiums: $9.3 billion

The portion of the overall industry: 1.28%

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  1. Assurant

Direct Written Premiums: $8.3 billion

The portion of the overall industry: 1.14%

 

  1. Tokio Marine

Direct Written Premiums: $7.7 billion

Piece of the pie: 1.06%

 

  1. Erie Insurance

Direct Written Premiums: $7.6 billion

Piece of the pie: 1.05%

  1. Fairfax Financial

Direct Written Premiums: $7.6 billion

The portion of the overall industry: 1.05%

 

  1. AXA

Direct Written Premiums: $7 billion

The portion of the overall industry: 0.97%

What is life insurance? How many types of insurance

  1. WR Berkley

Direct Written Premiums: $6.8 billion

The portion of the overall industry: 0.94%

 

  1. American Financial Group/Great American Insurance Group

Direct Written Premiums: $6.7 billion

The portion of the overall industry: 0.92%

 

  1. Markel Corporation

Direct Written Premiums: $6 billion

The portion of the overall industry: 0.83%

 

  1. Cincinnati Financial

Direct Written Premiums: $5.5 billion

Piece of the pie: 0.77%

more news

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.

What is life insurance? How many types of insurance

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)

 

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