Private auto insurance carriers faced multiple business challenges in 2020 — the year of global pandemic shutdowns when many consumers adjusted or changed their approach to covering their vehicles. Those hurdles are playing out now in earnings reported to the National Association of Insurance Commissioners (NAIC), in which the top insurers in this category show slim but notable changes from the previous year. Travelers, for instance, remains in the No. 10 spot with very similar premiums reported and a .02% loss of market share between 2019 and 2020. American Family lost several million dollars in premiums and .21% market share but held on to its No. 9 spot from the previous year. And at No. 8, Nationwide lost more than a billion dollars in reported premiums and .15% of market share since the previous year. All told, the top 25 private passenger auto insurance carriers reported $249.50 billion in direct premiums written in 2020. This is down from the $253 billion in direct premiums written in 2019 but up from the $246 billion reported in 2018. The slideshow above illustrates the top 10 private auto insurance carriers in 2020, according to NAIC filings. See also: |
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
