A Firm Foundation: How Insurance Supports the Economy

As employers, taxpayers and investors, insurance companies play a major role in the U.S. economy, contributing $564.5 billion, or 2.8 percent, to the nation’s gross domestic product (GDP) in 2018. The charts below identify some of the leading players in this vital sector.

Top 10 Writers Of Property/Casualty Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $65,615,190 9.3%
2 Berkshire Hathaway Inc. 46,106,971 6.6
3 Progressive Corp. 39,222,879 5.6
4 Liberty Mutual 35,600,051 5.1
5 Allstate Corp. 35,025,903 5.0
6 Travelers Companies Inc. 28,016,966 4.0
7 USAA Insurance Group 23,483,080 3.3
8 Chubb Ltd. 23,388,385 3.3
9 Farmers Insurance Group of Companies 20,643,559 2.9
10 Nationwide Mutual Group 18,442,145 2.6

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Life/Annuity Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 MetLife Inc. $95,079,321 13.0%
2 Prudential Financial Inc. 56,206,131 7.7
3 Equitable Holdings 44,721,302 6.1
4 New York Life Insurance Group 33,425,321 4.6
5 Massachusetts Mutual Life Insurance Co. 30,375,127 4.2
6 Lincoln National Corp. 28,471,688 3.9
7 Principal Financial Group Inc. 27,038,400 3.7
8 American International Group (AIG) 25,684,294 3.5
9 Jackson National Life Group 23,056,675 3.2
10 Transamerica 22,360,111 3.1

(1) Includes life insurance, annuity considerations, deposit-type contract funds and other considerations, and accident and health insurance. Before reinsurance transactions.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Homeowners Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $18,685,957 18.0%
2 Allstate Corp. 8,723,238 8.4
3 USAA Insurance Group 6,835,804 6.6
4 Liberty Mutual 6,745,864 6.5
5 Farmers Insurance Group of Companies 5,943,814 5.7
6 Travelers Companies Inc. 4,240,933 4.1
7 American Family Insurance Group 4,057,499 3.9
8 Nationwide Mutual Group 3,244,683 3.1
9 Chubb Ltd. 2,989,474 2.9
10 Erie Insurance Group 1,746,390 1.7

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Private Passenger Auto Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $40,878,781 16.1%
2 Berkshire Hathaway Inc. 34,892,004 13.8
3 Progressive Corp. 31,025,772 12.2
4 Allstate Corp. 23,626,743 9.3
5 USAA Insurance Group 15,231,169 6.0
6 Liberty Mutual 11,701,811 4.6
7 Farmers Insurance Group of Companies 10,533,343 4.2
8 Nationwide Mutual Group 6,245,588 2.5
9 American Family Insurance Group 5,776,711 2.3
10 Travelers Companies Inc. 4,903,033 1.9

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Commercial Auto Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 Progressive Corp. $5,578,099 12.3%
2 Travelers Companies Inc. 2,798,420 6.2
3 Liberty Mutual 1,888,126 4.2
4 Nationwide Mutual Group 1,673,431 3.7
5 Old Republic International Corp. 1,613,671 3.6
6 Berkshire Hathaway Inc. 1,568,586 3.5
7 Zurich Insurance Group 1,426,525 3.2
8 Auto-Owners Insurance Co. 1,116,121 2.5
9 Chubb Ltd. 966,797 2.1
10 Allstate Corp. 917,778 2.0

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Commercial Lines Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 Travelers Companies Inc. $18,666,277 5.5%
2 Chubb Ltd. 18,567,051 5.5
3 Liberty Mutual 16,794,384 5.0
4 Zurich Insurance Group 12,612,294 3.7
5 American International Group (AIG) 12,220,209 3.6
6 CNA Financial Corp. 10,602,312 3.1
7 Berkshire Hathaway Inc. 10,514,633 3.1
8 Hartford Financial Services 9,686,418 2.9
9 Nationwide Mutual Group 8,381,732 2.5
10 Tokio Marine Group 7,413,819 2.2

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Workers' Compensation Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 Travelers Companies Inc. $4,211,529 7.8%
2 Hartford Financial Services 3,365,298 6.2
3 Zurich Insurance Group 2,640,320 4.9
4 Liberty Mutual 2,447,306 4.5
5 Chubb Ltd. 2,430,118 4.5
6 Berkshire Hathaway Inc. 2,311,261 4.3
7 AmTrust Financial 2,172,219 4.0
8 Accident Fund Group 1,744,640 3.2
9 American International Group (AIG) 1,453,477 2.7
10 Old Republic International Corp. 1,408,124 2.6

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Writers Of Earthquake Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 California Earthquake Authority $820,924 22.8%
2 State Farm Mutual Automobile Insurance 275,793 7.7
3 Zurich Insurance Group 235,140 6.5
4 Chubb Ltd. 173,210 4.8
5 Travelers Companies Inc. 139,969 3.9
6 Palomar Specialty Insurance Co. 139,639 3.9
7 American International Group (AIG) 128,798 3.6
8 AXA 104,071 2.9
9 GeoVera Insurance Group 103,954 2.9
10 Sompo Holdings Inc. 97,635 2.7

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Top 10 Health Insurance Groups By Direct Premiums Written, 2019 (1)

($000)

Rank Group/company Direct premiums written Market share
1 UnitedHealth Group Inc. $107,481,328 14.1%
2 Anthem Inc. 73,336,651 9.6
3 Humana Inc. 64,000,392 8.4
4 Centene Corp. 63,557,977 8.3
5 HealthCare Service Corp.  39,629,317 5.2
6 CVS Health Corp. 26,079,700 3.4
7 Kaiser Permanente 20,035,052 2.6
8 GuideWell Mutual Holding Corp. 18,661,884 2.5
9 Independence Health Group Inc. 17,863,377 2.3
10 Blue Cross Blue Shield of Michigan 14,465,141 1.9

(1) Based on health insurer annual statement data. Excludes health insurance data from the property/casualty and life/annuity annual statements. Excludes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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