These are the top 25 property/casualty insurance companies in the US

These are the top 25 property/casualty insurance companies in the US

These are the top 25 property/casualty insurance companies in the US The nation’s top 25 property/casualty insurance companies claim more than two-thirds of the total market and wrote more than $588 billion in premium in 2015 – up 3.4% from the year previous, according to new data from the National Association of Insurance Commissioners.

Each insurer has increased their direct premiums written since 2014, and collectively represent a larger share of the market (64.4% in 2015 versus 62.7% the year previous). The usual suspects also top the list, though with some shuffling in position.

State Farm Group is again the largest property/casualty insurance company in the US, representing 10.09% of the market and writing $59.4 billion in direct premiums – nearly double that of its nearest competitor, Allstate ($30.1 billion).

Liberty Mutual fell two slots from the second largest insurer in 2014 to the fourth largest in 2015, as both Allstate and Berkshire Hathaway increased their share of the market. Progressive and Farmers also moved up one slot, as AIG and Nationwide fell slightly.

Tokio Marine is a new entrant on the list, claiming the 18th slot, and Allianz – previously the 24th largest insurer – is no longer in the top 25.

The 25 biggest property/casualty insurers, by direct premiums written and market share, are:

1. State Farm
Direct Premiums Written: $59.361 billion
Market Share: 10.09%

2. Allstate
Direct Premiums Written: $30.18billion
Market Share: 5.13%

3. Berkshire Hathaway
Direct Premiums Written: $29.967 billion
Market Share: 5.09%

4. Liberty Mutual
Direct Premiums Written: $29.848 billion
Market Share: 5.07%

5. Travelers
Direct Premiums Written: $23.2 billion
Market Share: 3.94%

6. Progressive
Direct Premiums Written: $21.346 billion
Market Share: 3.63%

7. Nationwide
Direct Premiums Written: $19.577 billion
Market Share: 3.33%

8. Farmers
Direct Premiums Written: $19.05 billion
Market Share: 3.24%

9. AIG
Direct Premiums Written: $18.997 billion
Market Share: 3.23%

10. USAA
Direct Premiums Written: $16.744 billion
Market Share: 2.85%

11. Zurich
Direct Premiums Written: $11.822 billion
Market Share: 2.01%

12. Hartford
Direct Premiums Written: $11.135 billion
Market Share: 1.89%

13. Chubb Inc.
Direct Premiums Written: $10.468 billion
Market Share: 1.78%

14. Chubb Ltd.
Direct Premiums Written: $10.142 billion
Market Share: 1.72%

15. CNA
Direct Premiums Written: $9.696 billion
Market Share: 1.65%

16. American Family
Direct Premiums Written: $7.242 billion
Market Share: 1.23%

17. Amtrust
Direct Premiums Written: $7.137 billion
Market Share: 1.21%

18. Tokio Marine
Direct Premiums Written: $6.121 billion
Market Share: 1.04%

19. Auto Owners Group
Direct Premiums Written: $5.981 billion
Market Share: 1.02%

20. Erie Insurance
Direct Premiums Written: $5.914 billion
Market Share: 1.01%

21. American Financial
Direct Premiums Written: $5.417 billion
Market Share: 0.92%

22. W.R. Berkley
Direct Premiums Written: $5.376 billion
Market Share: 0.91%

23. Assurant
Direct Premiums Written: $4.974 billion
Market Share: 0.85%

24. QBE
Direct Premiums Written: $4.7 billion
Market Share: 0.8%

25. Cincinnati Financial
Direct Premiums Written: $4.464 billion
Market Share: 0.76%

Of these insurers’ major lines, auto insurance grew by roughly 4.7% to $199 billion in 2015, and a J.D. Power study reveals a direct relationship between online presence and premium growth.

The J.D. Power 2016 US Insurance Shopping Study, now in its 10th year, measures consumer behavior and satisfaction among those who have recently purchased auto policies.

Of those shopping for insurance, 74% use insurer websites or aggregators for obtaining quotes and researching information. Nearly half obtain quotes through insurer websites and 25% purchase their policy online. Another 50% use an agent, and 22% phone a call center.

Given those behaviors, Greg Hoeg, vice president of US insurance operations at the company, says a strong carrier website and other digital platforms are essential for growth in 2016.

“Direct writers have invested heavily in digital channels to increase the functionality and ease of using their websites, which has clearly created an advantage for direct distribution relative to traditional agency distribution in some respects and has supported agency distribution in others,” Hoeg said.