Top 25 U.S. Property/Casualty Insurers

The top 10 insurers generate over half of total premiums paid

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There are many things to consider when choosing an insurer for your small business. These include the insurer’s pricing, its licensing status in your state, and its financial condition. Another factor is size. Because they have more financial wherewithal, large insurers may offer more innovative products, more accurate pricing, and more convenient service than small insurers.

See how insurers stack up size-wise by reviewing the table below. It shows the 25 largest property and casualty insurers in the United States.

Key Takeaways

  • The insurers in this top 25 list are ranked in descending order based on direct premiums written in 2021 for all lines of property/casualty insurance.
  • The 10 largest insurers on the NAIC’s ranking have a cumulative market share of 51.84%.
  • The top 25 insurer list is based on data published by the National Association of Insurance Commissioners. The NAIC revises the data every year.
  • A large insurance company may be a good choice due to its broad financial product offerings, customer service, and financial health.

How the Top 25 Insurers Are Ranked

The list is derived from a market share report published by the National Association of Insurance Commissioners (NAIC) in March 2022.

Insurers are ranked in descending order based on direct premiums written in 2021 for all lines of property/casualty insurance. The termdirect written premiums” means all policy premiums collected by an insurer during the calendar year without any adjustments for premiums ceded (transferred) to reinsurance companies. The lines of insurance included in the ranking are personal auto, commercial auto,workers' compensation, medical professional liability, homeowners, and other liability (excluding auto liability). The ranking does not include premiums generated from life insurance policies. The NAIC publishes a separate list of the 25 largest life insurers.


The 10 largest insurers on the NAIC’s ranking have a cumulative market share of 51.84%. Private passenger auto accounts for about 31% of all reported written premiums, more than any other line of property/casualty insurance.

25 Largest Property/Casualty Insurers
Rank Insurer Name Direct Premiums Written ($Bn) Comments
1 State Farm Grp. $70.3 Offers policies for individuals and small businesses. Sells products through captive agents. State Farm's financial services unit provides loans and banking services; its investments group offers mutual funds and other types of investments.
2 Berkshire Hathaway Grp. $51.6 A conglomerate that owns numerous insurance companies, including  GEICO, MedPro Group, National Indemnity, General Re, and Boat U.S.
3 Progressive Grp. $47.7 Sells personal and commercial coverages via its website and independent agents. Products include homeowners, auto, boat, and commercial auto insurance.
4 Allstate Ins. Grp. $41.4 Sells personal and commercial coverages. Allstate distributes its products through captive and independent agents. Owns Esurance, an online seller of personal insurance.
5 Liberty Mutual Grp. $39.0 A global mutual insurer that sells a wide variety of personal and business coverages directly to buyers or through independent agents. Owns  numerous insurers, including Safeco, Ironshore, and Golden Eagle.
6 Travelers Grp. $30.9 A global company that offers insurance for both businesses and individuals. Owns numerous insurers, including St. Paul Fire & Marine, and USF&G.
7 Chubb Ltd. Grp. $27.1 A global firm purchased by ACE in 2016. The combined firm is called Chubb. Offers a wide range of personal and commercial coverages, including many types of specialty insurance.
8 United Serv. Automobile Grp. (USAA) $25.3 Sells personal insurance coverages as well as banking, investment, and retirement products to current and former members of the U.S. military.
9 Farmers Ins. Grp. $25.0 Is a wholly-owned subsidiary of Zurich Financial Group. The Farmers organization includes Farmers Insurance Exchange, Fire Insurance Exchange, and Truck Insurance Exchange, inter-insurance exchanges owned by policyholders. They offer homeowners, auto, and commercial insurance throughout the U.S.
10 Nationwide Corp. Grp. $19.4 Sells banking and insurance products, including farm coverages, to individuals and small businesses through independent agents.
11 Zurich Ins. Grp. $15.0 Global company based in Switzerland. Offers property, casualty, and life insurance products and services in more than 210 countries and territories. Owns Farmers Insurance Group.
12 American Intl. Grp. $14.7 Global company that owns dozens of subsidiaries worldwide. Operates in more than 70 countries. Sells personal and commercial lines, including many specialty coverages.
13 Hartford Fire & Cas. Grp. $13.6 U.S. company founded in 1810. Offers personal and commercial insurance coverages and employee benefits.
14 CCNA Ins. Grp. $12.6 Global company founded in 1897. Offers standard and specialty coverages for large and small businesses, including multinationals.
15 American Family Ins. Grp. $12.6 A mutual insurance company that offers personal, business, and farm coverages. Sells products through captive agents.
16 Tokio Marine Holdings Inc. Grp. $10.3 A global company based in Tokyo. Operates in 46 countries as well as Japan. Sells a variety of coverages, including inland marine and cargo insurance. Owns the Philadelphia Insurance Companies, which offers professional liability and other commercial coverages.
17 Auto Owners Grp. $9.9 A mutual insurer established in 1916. Offers personal and commercial insurance coverages (not just auto) through independent agents in 26 states.
18 Fairfax Fin. Grp. $9.6 A holding company based in Toronto. Owns several insurers that operate in the U.S., including Zenith National (which sells workers’ comp only), Allied World, and Crum & Forster (which sells property and casualty coverages).
19 Assurant Inc. Grp. $8.9 Specialized insurer that offers both voluntary and lender-placed homeowners and manufactured housing, lender-placed flood insurance, and protection plans for electronics, jewelry, and appliances.
20 WR Berkley Corp. Grp. $8.3 A holding company based in Connecticut. Owns over 50 operating insurance units, each of which specializes in a niche market. Companies include Acadia Insurance, Admiral Insurance, and numerous subsidiaries that use the Berkley name.
21 Erie Ins. Grp. $7.9 Created in 1925. Offers personal and commercial coverages through independent agents in 12 states plus Washington, D.C.
22 Axa Ins. Grp. $7.7 A French multinational insurer that operates in 50 countries. Owns AXA XL, a global specialty insurer.
23 American Fin. Grp. $7.6 A holding company based in Ohio. Owns Great American Insurance, a property and casualty insurer that offers specialized commercial products.
24 Markel Corp Grp. $7.4 A global company based in the U.S. Offers many types of specialty coverages. Examples are equine insurance, farm and ranch insurance, and special event insurance.
25 Sompo Grp. $6.5 A Japanese holding company. Owns Sompo International, which offers commercial insurance products to U.S. businesses through retail and wholesale brokers.
Source: NAIC's Market Share Report

About the NAIC

The NAIC is governed by chief insurance regulators of the 50 states. It provides expertise, data, and analysis to state insurance commissioners to assist them in regulating the insurance industry and protecting consumers.


Many of the insurers included in the 2021 Top 25 list have appeared in previous years’ lists. Insurers may move up or down the list, but overall, the list doesn’t change much from year to year.

Frequently Asked Questions (FAQs)

What is property and casualty insurance?

Property and casualty insurance is one of two broad categories of insurance. The other is life and health insurance. Property and casualty insurance includes property insurance, which covers damage to physical assets such as buildings and machinery, and liability insurance, which covers third-party claims for bodily injury and property damage. Most insurance coverages purchased by small businesses are types of property and casualty insurance.

Who owns Geico?

GEICO is owned by Berkshire Hathaway, a multinational organization that owns a wide variety of businesses. Examples are Benjamin Moore (a paint company), Business Wire (a news organization), Fruit of the Loom (a clothing company), and General Re (a reinsurance company). Berkshire Hathaway is headed by Warren Buffet, who serves as its CEO and Chairman of the Board.

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The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
  1. National Association of Insurance Commissioners. "2021 Property and Casualty Market Share Report."

  2. National Association of Insurance Commissioners. "NAIC Releases 2021 Market Share Data."

  3. National Association of Insurance Commissioners. "2021 Life and Fraternal Market Share."

  4. AXA. "The Property-Casualty Insurance Business."

  5. Berkshire Hathaway. "Links to Berkshire Hathaway Companies."

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