The National Association of Insurance Commissioners (NAIC) has ranked the top 25 property and casualty insurance companies and groups by market share of direct premiums written for 2016.
Direct premiums written among the top 25 providers totaled $610 billion, compared with $588 billion in 2015. The top 10 providers accounted for 46.55 percent of 2016 direct premiums written.
Most of the names in the top 10 P&C carriers remained the same as 2015, with generally incremental movement up or down in the rankings. The biggest surprise on the top 10 was a new entrant, Chubb Ltd. Group, which jumped up seven spots from its ranking at No. 14 in 2015 after Ace Ltd. acquired Chubb.
Because of Chubb's jump into the Top 10, AIG dropped out from the list, ranking No. 11. AIG dropped two spots from 2015, when it ranked No. 9.
The top four carriers had a market share of 25.83 percent, almost equal to the market share of 25.4 percent among the top four during 2015.
State Farm held its No. 1 position again in 2016, with $62.2 billion in direct premiums written, representing a market share of 10.2 percent. The company topped the 2015 list as well, with a market share of 10.1 percent.
Continue reading to find out which groups in the top 10 increased their market share and which fell in the rankings in 2016:
No. 10: United Services Automobile Association Group
2015 Ranking: 10.
Direct Premiums Written, 2016: $18.3 billion.
Direct Premiums Written, 2015: $16.7 billion.
2016 Market Share: 3.00%
2015 Market Share: 2.85%.
2016 Cumulative Market Share: 46.51%.
No. 9: Farmers Insurance Group
2015 Ranking: 8.
Direct Premiums Written, 2016: $20 billion.
Direct Premiums Written, 2015: $19 billion.
2016 Market Share: 3.23%.
2015 Market Share: 3.24%.
2016 Cumulative Market Share: 43.51%.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
