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, 2021

($000)

Rank	Group/company	Direct premiums written (1)	Market share (2)
1	Travelers Companies Inc.	$3,547,060	6.8%
2	Hartford Financial Services	3,293,689	6.3
3	AmTrust Financial	2,449,896	4.7
4	Zurich Insurance Group	2,354,376	4.5
5	Chubb Ltd.	2,203,827	4.2
6	Liberty Mutual	2,086,375	4.0
7	Berkshire Hathaway Inc.	1,927,849	3.7
8	New York State Insurance Fund Workers' Compensation Fund	1,733,104	3.3
9	Accident Fund Group	1,667,442	3.2
10	Old Republic International Corp.	1,291,135	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 Earthquake Insurance By Direct Premiums Written, 2021

($000)

Rank	Group/company	Direct premiums written (1)	Market share (2)
1	California Earthquake Authority (3)	$917,219	19.5%
2	FM Global	505,904	10.8
3	State Farm	305,289	6.5
4	Zurich Insurance Group	296,818	6.3
5	Palomar Specialty Insurance Co.	244,104	5.2
6	Chubb Ltd.	182,593	3.9
7	Travelers Companies Inc.	166,716	3.6
8	Sompo Holdings Inc.	138,969	3.0
9	American International Group (AIG)	128,598	2.7
10	Liberty Mutual	119,260	2.5

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.
(3) California Earthquake DWP obtained from its financial statements reported on its website.

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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