10 Largest P&C Insurance Companies
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State Farm is the largest property and casualty insurance company in the United States, ahead of Berkshire Hathaway, which owns Geico. Progressive, Liberty Mutual and Allstate round out the top five.
Property and casualty is a broad category of insurance that includes auto and motorcycle insurance, home and renters insurance, crop insurance and even airplane insurance. The 10 largest property and casualty companies account for 48% of the total market. Each of the top six companies has auto insurance as the largest component of its insurance business.
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Largest property and casualty insurance companies
State Farm is the biggest property and casualty insurer in the U.S., with more that $70 billion in total premiums. That is nearly $19 billion more than Berkshire Hathaway, which owns Geico, and nearly $22 billion more than Progressive.
Each of the five largest insurers in the U.S. has more than 5% of the total market across the full range of P&C insurance products.
Largest P&C insurance companies
Rank | Company | Premiums written (billions) | Market share |
|---|---|---|---|
| 1 | State Farm | $70.3 | 9% |
| 2 | Berkshire Hathaway | $51.6 | 7% |
| 3 | Progressive | $48.4 | 6% |
| 4 | Liberty Mutual | $41.5 | 5% |
| 5 | Allstate | $41.4 | 5% |
| 6 | Travelers | $30.9 | 4% |
| 7 | Chubb | $27.1 | 3% |
| 8 | USAA | $25.3 | 3% |
| 9 | Farmers | $25.0 | 3% |
| 10 | Nationwide | $19.4 | 2% |
Largest P&C insurance companies by state
In addition to being the largest insurance carrier nationally, State Farm is also the most popular insurer in 35 states. Liberty Mutual and Berkshire Hathaway are the top insurance companies in five states, while Progressive has the largest market share in two states.
State | Top company | Market share |
|---|---|---|
| Alabama | State Farm | 15% |
| Alaska | State Farm | 15% |
| Arizona | State Farm | 10% |
| Arkansas | State Farm | 14% |
| California | State Farm | 7% |
What is property and casualty insurance?
Property and casualty insurance are two types of coverage that protect the property you own, cover medical costs or cover damage for which you are found responsible. P&C insurance may cover a wide variety of property and situations, which means there is a long list of different types.
- Accident and health insurance
- Aircraft insurance
- Business insurance
- Commercial building insurance
- Credit insurance
- Crop insurance
- Earthquake insurance
- Equipment breakdown insurance
- Farm insurance
- Federal employees health benefits
- Fire insurance
- Flood insurance
- Inland marine insurance
- International insurance
- Medical liability insurance
- Ocean marine insurance
- Private mortgage insurance
- Surety insurance
- Warranty insurance
- Workers compensation insurance
Frequently asked questions
Who are the largest property and casualty insurance companies?
State Farm is the largest property and casualty insurance in the United States, with more than $70 billion in premiums in 2021. The rest of the top five insurers are Berkshire Hathaway, Progressive, Liberty Mutual and Allstate.
Who is the largest auto insurance company?
State Farm is also the largest auto insurance company in the U.S. It has 16% of the market, with $40 billion in premiums.
What is the largest insurance company in Florida?
Progressive is the largest property and casualty insurance provider in Florida. The Ohio-based company accounts for 11% of the insurance market in the state.
Methodology
Market share data and total premiums were compiled using S&P Global Market Intelligence, a data resource for the financial industry.