America’s largest property and casualty insurers in 2022 – a state-by-state breakdown

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Industry behemoth State Farm stays the biggest property and casualty insurer within the US, controlling virtually 9% of the market and writing greater than $70.3 billion in premiums. The Bloomington, Illinois-headquartered insurance coverage big’s DWP is nearly $19 billion greater than that of Berkshire Hathaway, which sits on second place. Warren Buffett’s conglomerate owns a number of insurance coverage subsidiaries, together with GEICO.

Prominent insurance coverage manufacturers Progressive, Allstate, and Liberty Mutual, which account for six%, 5.2%, and 4.8% of the market, respectively, spherical up the highest 5 greatest P&C insurance coverage corporations within the US.

Read extra: These are the world’s 20 largest insurance coverage corporations in 2022

These are the highest 25 property and casualty insurance coverage suppliers within the nation, based on NAIC’s 2022 market share report.

Rank

Insurance firm

Direct written premiums

Market share

1

State Farm

$70.3 billion

8.89%

2

Berkshire Hathaway

$50.7 billion

6.42%

3

Progressive

$47.7 billion

6.04%

4

Allstate

$41.4 billion

5.23%

5

Liberty Mutual

$37.8 billion

4.78%

6

Travelers

$30.8 billion

3.90%

7

Chubb

$26.3 billion

3.33%

8

USAA

$25.2 billion

3.19%

9

Farmers Insurance

$25 billion

3.16%

10

Nationwide

$19.4 billion

2.46%

11

Zurich

$14.9 billion

1.89%

12

AIG

$14.4 billion

1.82%

13

Hartford

$13.5 billion

1.70%

14

American Family Insurance

$12.6 billion

1.59%

15

CNA

$12.1 billion

1.54%

16

Tokio Marine

$10.2 billion

1.29%

17

Auto-Owners

$9.9 billion

1.25%

18

Assurant

$8.5 billion

1.07%

19

Fairfax Financial

$8.3 billion

1.05%

20

Erie Insurance

$7.9 billion

0.99%

21

W.R. Berkley

$7.8 billion

0.99%

22

American Financial

$7.4 billion

0.94%

23

Markel

$7.4 billion

0.94%

24

AXA

$7.1 billion

0.90%

25

Sompo

$6.6 billion

0.83%

Source: National Association of Insurance Commissioners, 2022 Market share report

What is property and casualty insurance coverage?

P&C insurance coverage is an umbrella time period for a broad sort of protection that helps shield private property – together with residence and automobiles – and canopy in opposition to legal responsibility if somebody is discovered legally answerable for an accident that causes bodily damage or property harm to others.

Apart from auto and residential protection, P&C insurance policies embody accident and well being, business, farm, marine, aviation, credit score, flood, surety, skilled legal responsibility, non-public mortgage, and staff’ compensation insurance coverage.

Read extra: Revealed – 10 finest insurance coverage corporations to work for in 2022

Which enterprise strains account for the largest share of the P&C market within the US?

For its annual market share report, NAIC compiles knowledge from a number of strains of insurance coverage. These are grouped into seven main classes, particularly non-public auto, business automobile, householders, staff’ compensation, medical legal responsibility, different legal responsibility, and all different strains, which embody farm, marine, flood, earthquake, mortgage safety, monetary warranty, and hearth insurance coverage.

Here are the highest classes ranked by DWP based mostly on the report.

Insurance line

Direct written premiums

Private passenger auto

$260.7 billion

All different strains

$186.7 billion

Homeowners a number of peril

$118.9 billion

Other legal responsibility

$109.8 billion

Commercial auto

$53.4 billion

Workers’ compensation

$51.9 billion

Medical skilled legal responsibility

$10.9 billion

*Data updated as of March 2022

 

Read extra: Revealed – the world’s 50 largest reinsurance corporations

A state-by-state breakdown of the biggest P&C insurance coverage suppliers within the US

State Farm can be the main property and casualty insurer within the majority of the states, topping the record in 35 of the 50 states. Berkshire Hathaway and Liberty Mutual are tied for second, with each corporations main the pack in 5 states every. Progressive, in the meantime, is the largest P&C insurer in two states. Here is a state-by-state breakdown of the highest 5 P&C insurance coverage suppliers in every state based mostly on NAIC’s 2022 market share report.

State

Rank

Insurer

DWP

Market share

Alabama

1

State Farm

$1.6 billion

14.6%

2

Alfa Insurance

$914 million

8.4%

3

Allstate

$890 million

8.2%

4

Progressive

$661 million

6.1%

5

Berkshire Hathaway

$543 million

5.0%

Alaska

1

State Farm

$254 million

14.8%

2

USAA

$148 million

8.7%

3

Berkshire Hathaway

$136 million

7.9%

4

Liberty Mutual

$131 million

7.7%

5

Allstate

$103 million

6.0%

Arizona

1

State Farm

$1.3 billion

9.4%

2

Berkshire Hathaway

$1.2 billion

8.4%

3

Progressive

$1.0 billion

7.4%

4

Farmers

$912 million

6.5%

5

Liberty Mutual

$836 million

5.9%

Arkansas

1

State Farm

$882 million

13.7%

2

Progressive

$386 million

6.0%

3

Shelter Insurance

$339 million

5.3%

4

Allstate

$296 million

4.6%

5

Southern Farm

$290 million

4.5%

California

1

State Farm

$7.1 billion

7.3%

2

Farmers

$6.7 billion

6.9%

3

Berkshire Hathaway

$6.5 billion

6.8%

4

Allstate

$4.6 billion

4.7%

5

Liberty Mutual

$3.9 billion

4.1%

Colorado

1

State Farm

$1.9 billion

11.4%

2

Liberty Mutual

$1.3 billion

8.2%

3

USAA

$1.0 billion

6.5%

4

Allstate

$899 million

5.5%

5

Progressive

$883 million

5.4%

Connecticut

1

Berkshire Hathaway

$769 million

7.7%

2

Liberty Mutual

$692 million

6.9%

3

Travelers

$671 million

6.7%

4

Chubb

$604 million

6.0%

5

Progressive

$513 million

5.1%

Delaware

1

State Farm

$337 million

10.3%

2

Berkshire Hathaway

$217 million

6.7%

3

Liberty Mutual

$202 million

6.2%

4

Nuclear Electric Insurance

$184 million

5.6%

5

Nationwide

$173 million

5.3%

District of Columbia

1

Berkshire Hathaway

$216 million

9.3%

2

Travelers

$186 million

8.0%

3

Chubb

$174 million

7.5%

4

Liberty Mutual

$162 million

7.0%

5

State Farm

$107 million

4.6%

Florida

1

Progressive

$6.8 billion

10.2%

2

Berkshire Hathaway

$6.7 billion

10.1%

3

State Farm

$4.2 billion

6.4%

4

Assurant

$3.4 billion

5.1%

5

Allstate

$3.0 billion

4.6%

Georgia

1

State Farm

$3.5 billion

13.1%

2

Progressive

$2.2 billion

8.2%

3

Allstate

$1.8 billion

6.7%

4

Berkshire Hathaway

$1.7 billion

6.6%

5

USAA

$1.4 billion

5.5%

Hawaii

1

State Farm

$324 million

11.2%

2

Tokio Marine

$306 million

10.6%

3

Berkshire Hathaway

$257 million

8.9%

4

USAA

$136 million

4.7%

5

Island Insurance

$132 million

4.6%

Idaho

1

Liberty Mutual

$373 million

9.7%

2

State Farm

$281 million

7.3%

3

Farm Bureau

$270 million

7.0%

4

Idaho State Insurance Fund

$261 million

6.8

5

Progressive

$192 million

5.0%

Illinois

1

State Farm

$4.1 billion

13.5%

2

Allstate

$1.8 billion

6.0%

3

Country Insurance

$1.4 billion

4.5%

4

Travelers

$1.3 billion

4.2%

5

Assurant

$1.1 billion

3.7%

Indiana

1

State Farm

$1.5 billion

11.3%

2

Progressive

$800 million

5.9%

3

Liberty Mutual

$743 million

5.4%

4

Indiana Farm Bureau

$707 million

5.2%

5

Allstate

$641 million

4.7%

Iowa

1

State Farm

$727 million

9.0%

2

Progressive

$517 million

6.4%

3

Nationwide

$488 million

6.1%

4

Iowa Farm Bureau

$458 million

5.7%

5

Chubb

$408 million

5.1%

Kansas

1

State Farm

$730 million

9.2%

2

American Family

$489 million

6.2%

3

Iowa Farm Bureau

$475 million

6.0%

4

Berkshire Hathaway

$431 million

5.4%

5

Travelers

$405 million

5.1%

Kentucky

1

State Farm

$1.1 billion

13.2%

2

Kentucky Farm Bureau

$1.0 billion

12.6%

3

Liberty Mutual

$648 million

7.5%

4

Progressive

$483 million

5.6%

5

Allstate

$355 million

4.1%

Louisiana

1

State Farm

$2.1 billion

15.7%

2

Progressive

$1.2 billion

9.0%

3

Allstate

$971 million

7.3%

4

Berkshire Hathaway

$773 million

5.8%

5

Liberty Mutual

$517 million

3.9%

Maine

1

Liberty Mutual

$237 million

8.6%

2

State Farm

$182 million

6.6%

3

Maine Employers Mutual Insurance

$172 million

6.2%

4

Progressive

$170 million

6.1%

5

Berkshire Hathaway

$136 million

4.9%

Maryland

1

Berkshire Hathaway

$1.6 billion

11.6%

2

State Farm

$1.3 billion

9.8%

3

Allstate

$964 million

7.0%

4

Erie Insurance

$937 million

6.8%

5

USAA

$785 million

5.7%

Massachusetts

1

MAPFRE

$1.6 billion

9.0%

2

Liberty Mutual

$1.4 billion

7.5%

3

Berkshire Hathaway

$1.2 billion

6.7%

4

Travelers

$1.0 billion

5.5%

5

Chubb

$910 million

5.0%

Michigan

1

State Farm

$2.2 billion

10.4%

2

Progressive

$2.1 billion

9.7%

3

Auto-Owners

$1.9 billion

8.8%

4

Automobile Club Michigan

$1.8 billion

8.5%

5

The Hanover

$1.1 billion

5.1%

Minnesota

1

State Farm

$1.8 billion

12.6%

2

Progressive

$998 million

7.1%

3

American Family

$959 million

6.8%

4

Travelers

$612 million

4.4%

5

Auto-Owners

$564 million

4.0%

Mississippi

1

State Farm

$868 million

13.7%

2

Southern Farm Bureau

$485 million

7.6%

3

Progressive

$451 million

7.1%

4

Liberty Mutual

$366 million

5.8%

5

Allstate

$315 million

5.0%

Missouri

1

State Farm

$1.7 billion

12.3%

2

American Family

$1.0 billion

7.2%

3

Progressive

$812 million

5.7%

4

Liberty Mutual

$744 million

5.2%

5

Travelers

$661 million

4.6%

Montana

1

State Farm

$337 million

11.0%

2

Liberty Mutual

$291 million

9.5 %

3

Progressive

$186 million

6.1%

4

Travelers

$170 million

5.5%

5

Montana State Fund

$161 million

5.4%

Nebraska

1

State Farm

$590 million

9.7%

2

Farmers Mutual Insurance Company of Nebraska

$365 million

6.0%

3

Nationwide

$323 million

5.3%

4

Zurich

$322 million

5.3%

5

Progressive

$302 million

5.0%

Nevada

1

State Farm

$641 million

9.1%

2

Berkshire Hathaway

$630 million

8.9%

3

Progressive

$587 million

8.3%

4

Farmers

$458 million

6.5%

5

Allstate

$431 million

6.1%

New Hampshire

1

Liberty Mutual

$275 million

9.7%

2

State Farm

$174 million

6.2%

3

Berkshire Hathaway

$168 million

5.9%

4

Progressive

$163 million

5.7%

5

Allstate

$150 million

5.3%

New Jersey

1

Berkshire Hathaway

$2.9 billion

10.4%

2

New Jersey Manufacturers

$1.8 billion

7.3%

3

Progressive

$1.5 billion

6.1%

4

Liberty Mutual

$1.4 million

5.6%

5

Allstate

$1.3 million

5.5%

New Mexico

1

State Farm

$470 million

11.6%

2

Progressive

$338 million

8.4%

3

Farmers

$318 million

7.9%

4

Berkshire Hathaway

$260 million

6.4%

5

Liberty Mutual

$244 million

6.0%

New York

1

Berkshire Hathaway

$6.2 billion

11.4%

2

Allstate

$3.6 billion

6.5%

3

Chubb

$3.0 billion

5.5%

4

State Farm

$3.0 billion

5.5%

5

Travelers

$2.9 billion

5.%

North Carolina

1

State Farm

$1.7 billion

8.5%

2

Allstate

$1.6 billion

8.1%

3

North Carolina Farm Bureau

$1.3 billion

6.7%

4

Berkshire Hathaway

$1.2 billion

6.3%

5

Nationwide

$1.1 million

5.7%

North Dakota

1

QBE

$351 million

11.0%

2

Chubb

$308 million

10.0%

3

Zurich

$253 million

8.0%

4

Workforce Safety & Insurance of North Dakota

$194 million

6.1%

5

Nodak Mutual

$148 million

4.6%

Ohio

1

State Farm

$2.1 billion

9.8%

2

Progressive

$1.6 billion

7.7%

3

Allstate

$1.3 billion

6.1%

4

Ohio Bureau of Workers’ Compensation

$1.2 billion

5.7%

5

Liberty Mutual

$1.1 billion

5.3%

Oklahoma

1

State Farm

$1.3 billion

14.2%

2

Farmers

$759 million

8.1%

3

Progressive

$586 million

6.3%

4

Liberty Mutual

$498 million

5.3%

5

Allstate

$461 million

4.9%

Oregon

1

State Farm

$947 million

11.1%

2

Liberty Mutual

$774 million

9.1%

3

Progressive

$632 million

7.4%

4

Farmers

$587 million

6.8%

5

SAIF

$521 million

6.1%

Pennsylvania

1

State Farm

$2.5 billion

8.8%

2

Erie Insurance

$2.5 billion

8.8%

3

Progressive

$1.6 billion

5.6%

4

Farmers

$1.5 billion

5.5%

5

Liberty Mutual

$1.5 billion

5.3%

Rhode Island

1

Progressive

$311 million

10.8%

2

Berkshire Hathaway

$206 million

7.2%

3

Allstate

$186 million

6.5%

4

Liberty Mutual

$169 million

5.9%

5

Amica Mutual

$161 million

5.6%

South Carolina

1

State Farm

$1.7 billion

13.7%

2

Progressive

$991 million

8.1%

3

Berkshire Hathaway

$941 million

7.7%

4

Allstate

$865 million

7.1%

5

USAA

$700 million

5.7%

South Dakota

1

Chubb

$326 million

10.7%

2

State Farm

$226 million

7.4%

3

QBE

$168 million

5.5%

4

Zurich

$160 million

5.2%

5

American Family

$133 million

4.4%

Tennessee

1

State Farm

$1.7 billion

12.0%

2

Tennessee Farmers

$1.5 billion

10.3%

3

Progressive

$762 million

5.4%

4

Berkshire Hathaway

$707 million

5.0%

5

Liberty Mutual

$698 million

4.9%

Texas

1

State Farm

$6.0 billion

8.5%

2

Progressive

$5.5 billion

7.8%

3

Allstate

$4.7 billion

6.6%

4

Berkshire Hathaway

$4.3 billion

6.1%

5

Farmers

$3.4 billion

4.9%

Utah

1

State Farm

$516 million

8.1%

2

Allstate

$392 million

6.2%

3

Farmers

$377 million

5.9%

4

Progressive

$338 million

5.3%

5

Liberty Mutual

$335 million

5.3%

Vermont

1

Liberty Mutual

$124 million

8.7%

2

Berkshire Hathaway

$98 million

6.9%

3

Progressive

$92 million

6.5%

4

Travelers

$72 million

5.1%

5

Co-operative Insurance

$64 million

4.5%

Virginia

1

State Farm

$1.5 billion

9.0%

2

USAA

$1.4 billion

8.8%

3

Berkshire Hathaway

$1.4 billion

8.4%

4

Allstate

$1.0 billion

6.3%

5

Progressive

$926 million

5.6%

Washington

1

Washington State Fund

$1.6 billion

9.6%

2

Liberty Mutual

$1.5 billion

9.0%

3

Progressive

$1.4 billion

8.5%

4

State Farm

$1.0 billion

6.0%

5

Allstate

$958 million

5.8%

West Virginia

1

State Farm

$485 million

15.4%

2

Erie Insurance

$376 million

12.0%

3

Nationwide

$215 million

6.8%

4

Berkshire Hathaway

$177 million

5.6%

5

Liberty Mutual

$168 million

5.3%

Wisconsin

1

American Family

$1.1 billion

9.3%

2

State Farm

$870 million

7.2%

3

Progressive

$845 million

6.9%

4

West Bend Mutual

$554 million

4.5%

5

Travelers

$459 million

3.8%

Wyoming

1

Workers’ Safety & Compensation Division of Wyoming

$190 million

11.6%

2

State Farm

$179 million

10.8%

3

Farmers

$123 million

7.4%

4

Mountain West Farm

$113 million

6.9%

5

Liberty Mutual

$110 million

6.7%

 

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