10 Largest P&C Insurance Companies
State Farm is the largest property and casualty insurance company in the United States.
The second-largest company is Berkshire Hathaway, which owns Geico. Progressive, Liberty Mutual and Allstate round out the top five.
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.
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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.
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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
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% |
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% |
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.
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