The best and cheap insurance companies in USA

When it comes to insurance services, the following are the top 25 property/casualty insurance companies in the US.

The nation’s top 25 property/casualty insurance companies claim almost two-thirds of the total market and wrote more than $552 billion in premium in 2017 – up 4.6% from the year previous, according to new data from the National Association of Insurance Commissioners.

State Farm Group is once again the largest property/casualty insurance company in the US, representing 10.1% of the market and writing $64.8 billion in direct premiums – nearly $30 billion more than its nearest competitor, Berkshire Hathaway ($38.4 billion).

Liberty Mutual, Allstate and Progressive all retained their market rankings compared to 2016, with Progressive the only one to increase its market share by 0.4%.

Further down the top 10 rankings, Nationwide dropped two places from eight to 10, with its direct premiums written falling from $19.7 billion in 2016 to $19.2 billion in 2017. It switched places with USAA Insurance Group, which boosted its direct premiums written from $18,2 billion in 2016 to $20.1 billion in 2017, increasing its market share by 0.1%

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

1. State Farm 

Direct Premiums Written: $64.8 billion

Market Share: 10.1%

2. Berkshire Hathaway 

Direct Premiums Written: $38.4 billion

Market Share: 6.0%

3. Liberty Mutual

Direct Premiums Written: $33.8 billion

Market Share: 5.3%

4. Allstate

Direct Premiums Written: $31.5 billion

Market Share: 4.9%

5. Progressive

Direct Premiums Written: $27.8 billion

Market Share: 4.3%

6. Travelers 

Direct Premiums Written: $24.8 billion

Market Share: 3.9%

7. Chubb 

Direct Premiums Written: $21.2 billion

Market Share: 3.3%

8. USAA

Direct Premiums Written: $20.1 billion

Market Share: 3.1%

9. Farmers

Direct Premiums Written: $19.8 billion

Market Share: 3.1%

10. Nationwide

Direct Premiums Written: $19.2 billion

Market Share: 3.0%

11. AIG

Direct Premiums Written: $14.0 billion

Market Share: 2.2%

12. Zurich 

Direct Premiums Written: $13.0 billion

Market Share: 2.0%

13. Hartford

Direct Premiums Written: $11.1 billion

Market Share: 1.7%

14. CNA 

Direct Premiums Written: $10.4 billion

Market Share: 1.6%

15. AmTrust Group 

Direct Premiums Written: $10.2 billion

Market Share: 1.6%

16. American Family

Direct Premiums Written: $8.3 billion

Market Share: 1.3%

17. Auto Owners Group

Direct Premiums Written: $7.1 billion

Market Share: 1.1%

18. Erie Insurance

Direct Premiums Written: $6.6 billion

Market Share: 1.0%

19. Tokio Marine

Direct Premiums Written: $6.6 billion

Market Share: 1.0%

20. American Financial 

Direct Premiums Written: $5.9 billion

Market Share: 0.9%

21. W.R. Berkley

Direct Premiums Written: $5.7 billion

Market Share: 0.9%

22. Assurant 

Direct Premiums Written: $5.6 billion

Market Share: 0.9%

23. Fairfax Financial Holdings 

Direct Premiums Written: $5.4 billion

Market Share: 0.8%

24. Cincinnati Financial

Direct Premiums Written: $4.7 billion

Market Share: 0.7%

25. Markel Corporation 

Direct Premiums Written: $4.4 billion

Market Share: 0.7%

According to the Insurance Information Institute, US insurance industry net premiums written totaled $1.2 trillion in 2017, with premiums recorded by life/health insurers accounting for 52%, and premiums by property/casualty insurers accounting for 48%.

NAIC data states there were 5,977 insurance companies in 2016 in the US (including territories), including P/C (2,538), life/annuities (872), health (858), fraternal (85), title (55), risk retention groups (247) and other companies (1,314).

The US insurance industry employed 2.6 million people in 2016, according to the US Department of Labor. Of those, 1.5 million worked for insurance companies, including life and health insurers (811,900 workers), P/C insurers (648,200 workers) and reinsurers (25,000 workers). The remaining 1.1 million people worked for insurance agencies, brokers and other insurance-related enterprises