PropertCasualty360 reports that, in 2018, the nation’s top insurance companies and groups achieved more than $681.24 billion in direct written premiums, according to data from the National Association of Insurance Commissioners (NAIC) in its 2018 Market Share Reports for Property/Casualty Groups and Companies.
Figures from 2018 highlight a 5.3% increase in written premiums in the U.S. market compared to 2017.
The annual report, which includes detailed information on market share and loss ratio from the top 125 U.S. property and casualty insurance companies and groups, showcases data in countrywide and by-state charts. State Farm, Berkshire Hathaway, Liberty Mutual Group, Progressive and Allstate Insurance made up the top five insurance companies/groups in the report.
The report also offers insight into the market share and loss ratio data for the top writers in 30 lines of business, including fire, homeowners’ multi-peril, workers’ comp, products liability, commercial auto and more.
The report’s highlights
- The top 10 groups made up 47% of the P&C market in the U.S.
- Commercial auto liability had the largest increase in written premium from any line of business.
- Private passenger auto liability was the line of business with the highest amount of written premium in 2018.
- Over the course of 10 years, burglary and theft experienced a 109% increase in written premium — the largest of any line of business.