Direct premiums written (DPW) for U.S. total automobile insurance surged by 13%, reaching $383 bn, as revealed by AM Best’s Ranking. This growth reflects a dynamic and competitive landscape among the top auto insurance companies, with State Farm Group emerging as the leader.
Beinsure Media analyzed the report of the rating agency and selected the most important.
The top 25 insurers in the U.S. auto insurance market have written a combined total of $313 bn in direct premiums.
This group holds a substantial market share of 82%, demonstrating their dominance and influence within the industry.
Performance of the Top insurers
| TOP | Direct Premiums Written, bn $ | Market Share, % |
| Top 25 Insurers | 313 | 82.0 |
| Top 50 Insurers | 342 | 89.5 |
| Top 100 Insurers | 365 | 95.5 |
| Total Industry | 382 | 100.0 |
Expanding the scope to the top 50 insurers, the total direct premiums written increase to $342 bn. This broader group commands an 89.5% market share, reflecting the added contributions of mid-sized insurance companies that, while not as large individually as the top 25, collectively play a crucial role in the market.
When considering the top 100 insurers, the total direct premiums written rise to $365 bn, representing a 95.5% market share.
This indicates that nearly the entire market is controlled by the top 100 companies, leaving only a small fraction for smaller insurers.
State Farm Group experienced a significant growth in DPW, increasing by 24.6% to $59.6 bn.
This rise propelled State Farm to the top rank, overtaking Progressive Insurance Group, which moved down to second place despite a substantial 20.3% increase in DPW to $57.9 bn.
Berkshire Hathaway Insurance, ranked third, saw a modest increase of 2.7% in DPW, reaching $40.9 bn. Allstate Insurance Group maintained its fourth position with a DPW of $33.7 bn, marking a 9% rise from the previous year. USAA Group, at fifth place, reported a 21% increase in DPW, totaling $19.85 bn. Nationwide P&C Group, which fell to 10th place from 9th the previous year, experienced the largest decline among the top 10 companies, with its DPW decreasing by 6.9% to $6.7 bn.
TOP 50 U.S. Auto Insurers by Premiums
| Rank | Insurance Company | Direct Premiums Written, mn $ |
| 1 | State Farm Group | 59,648 |
| 2 | Progressive Ins Group | 57,973 |
| 3 | Berkshire Hathaway Ins | 40,917 |
| 4 | Allstate Ins Group | 33,690 |
| 5 | USAA Group | 19,848 |
| 6 | Liberty Mutual Ins Cos | 16,029 |
| 7 | Farmers Ins Group | 13,825 |
| 8 | Travelers Group | 10,020 |
| 9 | Amer Family Ins Group | 7,089 |
| 10 | Nationwide P&C Group | 6,656 |
| 11 | Auto-Owners Ins Group | 6,094 |
| 12 | Auto Club Enterprises Ins Group | 5,468 |
| 13 | Erie Ins Group | 5,132 |
| 14 | CSAA Ins Group | 4,498 |
| 15 | Kemper PC Companies | 3,578 |
| 16 | Hartford Ins Group | 3,330 |
| 17 | Mercury Casualty Group | 3,165 |
| 18 | Old Republic Ins Group | 2,502 |
| 19 | Sentry Ins Group | 2,493 |
| 20 | Auto Club Group | 2,291 |
| 21 | Chubb INA Group | 2,127 |
| 22 | Zurich Ins US PC Group | 2,099 |
| 23 | Hanover Ins Group Prop & Cas Cos | 1,844 |
| 24 | Cincinnati Ins Cos | 1,693 |
| 25 | MAPFRE North America Group | 1,648 |
| 26 | Markel Ins Group | 1,637 |
| 27 | Tokio Marine US PC Group | 1,514 |
| 28 | COUNTRY Financial PC Group | 1,444 |
| 29 | W. R. Berkley Ins Group | 1,439 |
| 30 | Alfa Ins Group | 1,412 |
| 31 | NJM Ins Group | 1,411 |
| 32 | Shelter Ins Cos | 1,404 |
| 33 | Amer Intl Group | 1,399 |
| 34 | Southern Farm Bureau Casualty Group | 1,383 |
| 35 | Amica Mutual Group | 1,383 |
| 36 | Selective Ins Group | 1,238 |
| 37 | Texas Farm Bureau Ins Group | 1,127 |
| 38 | Acuity, A Mutual Ins Co | 1,100 |
| 39 | Great Amer P & C Ins Group | 1,047 |
| 40 | Home State Ins Group | 1,018 |
| 41 | Fairfax Financial (USA) Group | 1,015 |
| 42 | TN Farmers Ins Cos | 938 |
| 43 | Redpoint County Mutual Ins Co | 913 |
| 44 | North Carolina Farm Bureau | 897 |
| 45 | BAMR US PC Group | 883 |
| 46 | CNA Ins Cos | 874 |
| 47 | Grange Ins Pool | 817 |
| 48 | Farm Bureau P&C Group | 784 |
| 49 | Westfield Group | 767 |
| 50 | Palisades Group | 765 |
The total industry figures reveal that the entire U.S. auto insurance market has generated $382 bn in direct premiums written. With a 100% market share, this encompasses all insurers operating within the sector.
The data highlights the scale of the industry and the economic significance of auto insurance as a vital component of the financial services sector.
FAQ
Direct premiums written for U.S. auto insurance surged by 13%, reaching $383 bn.
State Farm Group ranks as the leading auto insurer, with a DPW of $59.6 bn.
The top 25 insurers hold a combined 82% market share with $313 bn in DPW.
The top 50 insurers account for 89.5% of the market with a combined DPW of $342 bn.
The top 100 insurers control 95.5% of the market, with a total DPW of $365 bn.
State Farm Group and USAA Group showed significant growth, with increases of 24.6% and 21%, respectively.
Progressive Insurance Group reported a DPW of $57.9 bn, and Berkshire Hathaway Insurance had $40.9 bn.
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Edited & Fact checked by Oleg Parashchak – Editor-in-Chief at Beinsure Media
