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 $645.5 billion (3.1 percent) to the nation’s gross domestic product (GDP) in 2020. The charts below identify some of the leading players in this vital sector.

Top 10 Writers Of Property/Casualty Insurance By Direct Premiums Written, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm  $70,311,695 8.9%
2 Berkshire Hathaway Inc. 51,603,818 6.5
3 Progressive Corp. 48,373,113 6.1
4 Liberty Mutual 41,473,558 5.3
5 Allstate Corp. 41,387,729 5.3
6 Travelers Companies Inc. 30,920,023 3.9
7 Chubb Ltd. 26,983,034 3.4
8 USAA Insurance Group 25,257,974 3.2
9 Farmers Insurance Group of Companies 25,009,069 3.2
10 Nationwide Mutual Group 19,435,641 2.5

(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, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 MetLife Inc.  $97,860,893 11.3%
2 Equitable Holdings 83,179,735 9.6 
3 Prudential Financial Inc.  59,387,003 6.9 
4 Massachusetts Mutual Life Insurance Co.  41,683,012 4.8 
5 New York Life Insurance Group  38,855,736 4.5 
6 Athene Holding Ltd. 34,742,313 4.0 
7 Principal Financial Group Inc.  26,535,819 3.1 
8 Western & Southern Financial  26,469,977 3.1 
9 Nationwide 25,745,724 3.0 
10 American International Group (AIG) 25,205,415 2.9 

(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, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $22,046,155 18.4%
2 Allstate Corp. 10,500,630 8.8
3 Liberty Mutual 8,382,682 7.0
4 USAA Insurance Group 7,988,445 6.7
5 Farmers Insurance Group of Companies 7,608,035 6.4
6 Travelers Companies Inc. 5,557,121 4.6
7 American Family Insurance Group 5,003,013 4.2
8 Nationwide Mutual Group 3,522,394 2.9
9 Chubb Ltd. 3,210,874 2.7
10 Progressive Corp. 2,217,188 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 Private Passenger Auto Insurance By Direct Premiums Written, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $41,665,754 16.0%
2 Berkshire Hathaway Inc. 37,422,558 14.4
3 Progressive Corp. 35,852,921 13.8
4 Allstate Corp. 27,221,928 10.4
5 USAA Insurance Group 15,738,749 6.0
6 Liberty Mutual 13,257,306 5.1
7 Farmers Insurance Group of Companies 12,441,182 4.8
8 Nationwide Mutual  Group 5,565,737 2.1
9 American Family Insurance Group 5,488,677 2.1
10 Travelers Companies Inc. 5,328,115 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 Auto Insurance By Direct Premiums Written, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 Progressive Corp. $8,674,980 16.2%
2 Travelers Companies Inc. 2,973,806 5.6
3 Liberty Mutual 2,055,875 3.8
4 Old Republic International Corp. 2,019,243 3.8
5 Nationwide Mutual Group 1,683,255 3.1
6 Berkshire Hathaway Inc. 1,681,737 3.1
7 Zurich Insurance Group 1,612,363 3.0
8 Auto-Owners Insurance Co. 1,412,449 2.6
9 Allstate Corp. 1,146,522 2.1
10 W.R. Berkley Corp. 1,098,849 2.1

(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, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 Chubb Ltd. $22,323,908 5.6%
2 Travelers Companies Inc. 19,816,342 4.9
3 Liberty Mutual 19,473,757 4.9
4 Zurich Insurance Group 14,676,588 3.7
5 Berkshire Hathaway Inc. 13,198,188 3.3
6 American International Group (AIG) 13,119,540 3.3
7 CNA Financial Corp. 12,161,672 3.0
8 Hartford Financial Services 10,761,401 2.7
9 Progressive 10,282,191 2.6
10 Nationwide Mutual Group 9,763,153 2.4

(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, 2020

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 Travelers Companies Inc. $3,737,454 7.3%
2 Hartford Financial Services 2,992,054 5.9
3 Zurich Insurance Group 2,495,405 4.9
4 Chubb Ltd. 2,294,598 4.5
5 Liberty Mutual 2,140,149 4.2
6 Berkshire Hathaway Inc. 1,998,778 3.9
7 AmTrust Financial 1,956,224 3.8
8 Accident Fund Group 1,668,319 3.3
9 New York State Insurance Fund Workers' Compensation Fund 1,610,727 3.2
10 Old Republic International Corp. 1,301,262 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, 2020

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 California Earthquake Authority $843,756 19.8%
2 FM Global  341,855 8.0
3 Zurich Insurance Group 284,421 6.7
4 State Farm 284,085 6.7
5 Chubb Ltd. 187,598 4.4
6 Palomar Specialty Insurance Co. 183,302 4.3
7 Travelers Companies Inc. 156,662 3.7
8 American International Group (AIG) 141,374 3.3
9 Sompo Holdings Inc. 122,128 2.9
10 AXA SA  119,627 2.8

(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, 2021 (1)

($000)

Rank Group/company Direct premiums written Market share
1 UnitedHealth Group Inc. $137,895,947 15.3%
2 Anthem Inc. 92,253,208 10.3
3 Centene Corp. 81,429,580 9.1
4 Humana Inc. 79,042,258 8.8
5 HealthCare Service Corp.  46,267,933 5.1
6 CVS Health Corp. 31,937,687 3.6
7 GuideWell Mutual Holding Corp. 24,606,232 2.7
8 Molina Healthcare Inc. 24,098,384 2.7
9 Independence Health Group Inc. 22,969,351 2.6
10 Kaiser Permanente 20,821,188 2.3

(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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