10 Largest P&C Insurance Companies
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Largest property and casualty insurance companies
State Farm is the biggest property and casualty insurance company in the U.S. It has more than $70 billion in total property and casualty business per year. That's nearly $19 billion more than Berkshire Hathaway, which owns Geico. And it's nearly $22 billion more than Progressive.
Largest P&C insurance companies
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Property and casualty insurance includes auto and motorcycle, home and renters, crop and even airplane insurance. The 10 largest property and casualty companies account for 48% of the market. Auto insurance is the largest portion of revenue for each of the six top companies.
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% |
Each of the five largest companies in the U.S. has more than 5% of the total P&C insurance market.
Largest P&C insurance companies by state
State Farm is the largest insurance company nationally and the most popular in 35 states.
Liberty Mutual and Berkshire Hathaway are the top insurance companies in five states each. Progressive is the largest 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% |
| Colorado | State Farm | 11% |
| Connecticut | Berkshire Hathaway | 8% |
| Delaware | State Farm | 11% |
| District of Columbia | Berkshire Hathaway | 9% |
| Florida | Progressive | 11% |
| Georgia | State Farm | 13% |
| Hawaii | State Farm | 11% |
| Idaho | Liberty Mutual | 10% |
| Illinois | State Farm | 14% |
| Indiana | State Farm | 11% |
| Iowa | State Farm | 9% |
| Kansas | State Farm | 9% |
| Kentucky | State Farm | 13% |
| Louisiana | State Farm | 16% |
| Maine | Liberty Mutual | 9% |
| Maryland | Berkshire Hathaway | 12% |
| Massachusetts | Mapfre | 9% |
| Michigan | State Farm | 10% |
| Minnesota | State Farm | 13% |
| Mississippi | State Farm | 14% |
| Missouri | State Farm | 12% |
| Montana | State Farm | 11% |
| Nebraska | State Farm | 10% |
| Nevada | State Farm | 9% |
| New Hampshire | Liberty Mutual | 10% |
| New Jersey | Berkshire Hathaway | 10% |
| New Mexico | State Farm | 12% |
| New York | Berkshire Hathaway | 12% |
| North Carolina | State Farm | 9% |
| North Dakota | QBE | 12% |
| Ohio | State Farm | 10% |
| Oklahoma | State Farm | 14% |
| Oregon | State Farm | 11% |
| Pennsylvania | State Farm | 9% |
| Rhode Island | Progressive | 11% |
| South Carolina | State Farm | 14% |
| South Dakota | Chubb | 11% |
| Tennessee | State Farm | 12% |
| Texas | State Farm | 9% |
| Utah | State Farm | 8% |
| Vermont | Liberty Mutual | 9% |
| Virginia | State Farm | 9% |
| Washington | Liberty Mutual | 10% |
| West Virginia | State Farm | 15% |
| Wisconsin | American Family | 9% |
| Wyoming | State Farm | 12% |
What is property and casualty insurance?
Property and casualty insurance protects property you own, covers medical costs or pays for damage you cause. There are many types of P&C insurance covering a wide variety of property types and situations.
- Accident and health
- Aircraft
- Business
- Commercial building
- Credit
- Crop
- Earthquake
- Equipment breakdown
- Farm
- Federal employee health
- Fire
- Flood
- Inland marine
- International
- Medical liability
- Ocean marine
- Private mortgage
- Surety
- Warranty
- Workers' compensation
Frequently asked questions
What are the largest property and casualty insurance companies?
State Farm is the largest property and casualty insurance company in the United States. It had more than $70 billion in premiums in 2021. The rest of the top five companies are Berkshire Hathaway, Progressive, Liberty Mutual and Allstate.
What is the largest auto insurance company?
State Farm is the largest auto insurance company in the U.S. It has 16% of the market, with $40 billion in car insurance business.
What is the largest insurance company in Florida?
Progressive is the largest property and casualty insurance company in Florida. The Ohio-based company accounts for 11% of the insurance market in the state.
Methodology
To analyze market share data and total premiums, ValuePenguin used S&P Global Market Intelligence data from 2021. S&P Global Market Intelligence is a data resource for the financial industry.
About the Author
Managing Editor
Ben Breiner is the Managing Editor of ValuePenguin/LendingTree's insurance vertical. He oversees a team of writers who focus on guiding readers through the rigors of home and auto coverage. He still loves that moment when the words fall together and he can translate an intimidating topic so a reader can make the best choice.
Ben got involved in insurance in 2021 when he joined ValuePenguin. He moved up from writer to editor and watched the team grow to expand the ways it helps consumers. Before that, he spent a decade as a sportswriter for newspapers in the Southeast and Midwest.
Ben had to put off buying his first car because of high insurance rates, so he's keenly aware how the wrong policy can get in the way of your goals. He should've shopped around and looked to the experts.
Insurance tip
Always keep an eye out for insurance you can load up on at a low price. A lot more liability coverage won't break the bank and protects your hard-earned assets.
Expertise
- Car insurance
- Home insurance
- Renters insurance
Education
- BA, Economics and Journalism, University of Wisconsin-Madison
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
