The National Association of Insurance Commissioners has ranked the top 25 property and casualty insurance companies and groups by market share of direct premiums written for 2015.
Direct premiums written among the top 25 providers totaled $588 billion, compared with $569 billion in 2014. The top 10 providers accounted for 45.63% of 2015 direct premiums written.
The names in the top 10 P&C carriers remained the same as 2014, but with generally incremental movement up or down in the rankings. The most notable change was Liberty Mutual's drop to fourth place from second.
The top four carriers had a market share of 25.4%, almost equal to the market share of 25.2% among the top four during 2014.
State Farm held its No. 1 position again in 2015, with $59.4 billion in direct premiums written, representing a market share of 10.1%. The company topped the 2014 list as well, with a market share of 10.3%.
Continue reading to find out which groups in the Top 10 increased their market share and which fell in the rankings in 2015:
No. 10: United Services Automobile Association Group
2014 Ranking: 10.
Direct Premiums Written, 2015: $16.7 billion.
Direct Premiums Written, 2014: $15.7 billion.
2015 Market Share: 2.85%.
2014 Market Share: 2.76%.
2015 Cumulative Market Share: 45.63%.
No. 9: American International Group
2014 Ranking: 8.
Direct Premiums Written, 2015: $19 billion.
Direct Premiums Written, 2014: $18.7 billion.
2015 Market Share: 3.23%.
2014 Market Share: 3.28%.
2015 Cumulative Market Share: 42.78%.
No. 8: Farmers Insurance Group
2014 Ranking: 9.
Direct Premiums Written, 2015: $19 billion.
Direct Premiums Written, 2014: $18.6 billion.
2015 Market Share: 3.24%.
2014 Market Share: 3.27%.
2015 Cumulative Market Share: 39.55%.
No. 7: Nationwide Corp. Group
2014 Ranking: 6.
Direct Premiums Written, 2015: $19.6 billion.
Direct Premiums Written, 2014: $18.9 billion.
2015 Market Share: 3.33%.
2014 Market Share: 3.33%.
2015 Cumulative Market Share: 36.31%
No. 6: Progressive Group
2014 Ranking: 7.
Direct Premiums Written, 2015: $21.3 billion.
Direct Premiums Written, 2014: $18.9 billion.
2015 Market Share: 3.63%.
2014 Market Share: 3.32%.
2015 Cumulative Market Share: 32.98%.
No. 5: Travelers Group
2014 Ranking: 5.
Direct Premiums Written, 2015: $23.2 billion.
Direct Premiums Written, 2014: $22.8 billion.
2015 Market Share: 3.95%.
2014 Market Share: 4%.
2015 Cumulative Market Share: 29.35%.
No. 4: Liberty Mutual Group
2014 Ranking: 2.
Direct Premiums Written, 2015: $29.8 billion.
Direct Premiums Written, 2014: $29.4 billion.
2015 Market Share: 5.08%.
2014 Market Share: 5.16%.
2015 Cumulative Market Share: 25.40%.
No. 3: Berkshire Hathaway Group
2014 Ranking: 4.
Direct Premiums Written, 2015: $29.9 billion.
Direct Premiums Written, 2014: $26.4 billion.
2015 Market Share: 5.09%.
2014 Market Share: 4.64%.
2015 Cumulative Market Share: 20.32%.
No. 2: Allstate Insurance Group
2014 Ranking: 3.
Direct Premiums Written, 2015: $30.1 billion.
Direct Premiums Written, 2014: $28.9 billion.
2015 Market Share: 5.13%.
2014 Market Share: 5.08%.
2015 Cumulative Market Share: 15.23%.
No. 1: State Farm Group
2014 Ranking: 1.
Direct Premiums Written, 2015: $59.4 billion.
Direct Premiums Written, 2014: $58.5 billion.
2015 Market Share: 10.10%.
2014 Market Share: 10.28%.
2015 Cumulative Market Share: 10.10%.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
