TOP 50 Property & Casualty (P&C) Insurance Companies in U.S.

Largest Property & Casualty Insurance Companies in the United State. P&C Insurers in U.S. wrote more than $800 bn (+9.5%) in premiums, generating about $780 bn (+7.5%) in earned premiums.

The America’s 10 Largest P&C insurance companies command almost half (47%) of the market, with the top 25 insurers accounting for two-thirds of the overall share. Direct written premiums (DWP) from these insurance providers reached almost $517 bn at the end of last year, while earned premiums slightly exceeded $488 bn.   

US property and casualty insurance companies had a median price-to-estimated full-year 2023 earnings multiple of 12.1x, according to Beinsure Data.

TOP 10 largest property and casualty companies account for 48% of the total market. Each of the top six companies has auto insurance as the largest component of its insurance business.

The U.S. P&C insurance industry is a significant segment of the insurance market, providing coverage for risks associated with property loss (like fire, theft, or natural disasters) and liability exposures (such as automobile accidents or professional liability).

TOP 50 Largest P&C Insurers in the United States

InsurersNet Premiums Written, $ mnChange, %
1State Farm69,6486,1
2Berkshire Hathaway68,34120,7
5Liberty Mutual36,1393,1
8Chubb INA21,70410,6
12American Family12,6619,7
14Fairfax Financial (USA)10,40921
15Munich-American Hldg9,78438,6
17Tokio Marine US PC8,18812,4
18W.R. Berkley8,00220,8
20Everest Re US7,73616,1
22Alleghany Holdings6,7913
24FM Global Group5,27412,3
25Great Amer P&C5,23410,6
27Zurich NA5,06116,2
28Hanover P&C4,9868,2
29Kemper PC4,877,6
30Sompo Hldgs US4,62638,9
31Auto Club Enterprises4,6043
33Swiss Re4,11314,6
34Mercury Gen3,8166,9
36Allianz US P&C3,29741,3
38QBE Americas3,14413,1
39AXA US3,127-4,6
40Assurant P&C3,0554,3
42Old Republic Group2,7532,9
44COUNTRY Financial PC2,6713,3
45Auto Club2,6160,6
46PartnerRe US2,2898,7
47Scor US2,283,9
48AXIS US2,27813,8
49Amica Mutual2,236-2,9

Source: A.M. Best Company, Inc. and/or its affiliates.

Commercial P&C insurance has been riding on the back of a hard market. However, insurance premium increases have slowed. At the same time, insurance carriers have benefited from improving loss ratios, and capacity is starting to stabilize thanks to new market entrants.

Global commercial insurance prices rose by only 9% in the 2024, which was the sixth consecutive quarter of slowing premium increases for most P&C lines.

US insurance industry net premiums written totaled $1.28 trillion in 2023, with premiums recorded by property/casualty insurers accounting for 51% and premiums by health/life insurers accounting for 49%.

P&C insurance includes auto, homeowners and commercial insurance. Net premiums written for the sector totaled $652.8 bn last year. Meanwhile, the life/annuity insurance sector includes annuities, accident and health, and life insurance with net premiums for the sector totaling $240 bn.

TOP 50 Largest P&C Insurers in the United States

P&C carriers face a combination of complex and fast-evolving macroeconomic and industry trends, which interact with each other and the industry’s entrenched ways of working (see about P&C Insurance Claims Landscape).

The US insurance industry employed 2.9 mn people, according to the US Department of Labor. Of those, 1.7 mn worked for insurance companies, including life and health insurers (962,500 workers), P/C insurers (665,900 workers), and reinsurers (27,300 workers). The remaining 1.2 mn worked for insurance agencies, brokers, and other insurance-related enterprises.

The net combined ratio for the P&C insurance industry was 102.4, with underwriting losses for personal lines partially offset by underwriting gains for commercial lines.

The P&C insurance sector has long struggled with challenging fundamentals. Intense price competition erodes value across the board, and globally, only a small number of sector leaders turn a profit. Commoditization of both personal and commercial lines products, particularly in the small commercial segment, continues unabated.

TOP categories ranked by premiums in 2023

Insurance lineDirect written premiums
Private passenger auto$260.7 bn
All other lines$186.7 bn
Homeowners multiple peril$118.9 bn
Other liability$109.8 bn
Commercial auto$53.4 bn
Workers’ compensation$51.9 bn
Medical professional liability$10.9 bn
Source: NAIC

The P&C insurance industry in the U.S. is regulated primarily at the state level, with each state having its own insurance department responsible for oversight. This decentralized regulatory framework means that insurers must navigate a patchwork of regulations, which can vary significantly from one state to another. Key regulatory concerns include solvency requirements, rate setting, policy form approval, and consumer protection.

Value of gross premiums written by leading reinsurers in the United States

Value of gross premiums written by leading reinsurers in the United States
Infographic Source:

NAIC compiles data from several lines of insurance. These are grouped into seven major categories, namely private auto, commercial vehicle, homeowners, workers’ compensation, medical liability, other liability, and all other lines, which include farm, marine, flood, earthquake, mortgage protection, financial guaranty, and fire insurance.

  • Insurers are increasingly leveraging technology to improve operational efficiency, enhance customer experiences, and offer innovative products. Insurtech startups, in particular, are challenging traditional business models with their focus on digital-first approaches.
  • The increasing frequency and severity of natural disasters due to climate change pose significant risks for P&C insurers, particularly those exposed to markets prone to hurricanes, wildfires, and floods.
  • As businesses and individuals become more reliant on digital technologies, the demand for cyber insurance is growing. However, underwriting cyber risk presents unique challenges due to the evolving nature of cyber threats.
  • Insurers must stay abreast of regulatory changes at both the state and federal levels, which can impact various aspects of their operations, from product offerings to capital requirements.


  • Product Innovation: There is a growing opportunity for P&C insurers to develop new products and coverage options, especially in emerging areas like cyber insurance, sharing economy risks, and climate change mitigation.
  • Market Expansion: Insurers can look to expand into new geographic markets or segments where they can leverage their expertise and risk management capabilities.
  • Technology Adoption: Implementing advanced analytics, AI, and IoT devices can help insurers improve underwriting accuracy, enhance risk assessment, and offer personalized products.


Fact checked by Oleg Parashchak – CEO Finance Media & Editor-in-Chief at Beinsure Media