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Top 10 US Property & Casualty Insurers by Premium Volume (2025)

The United States property and casualty (P&C) insurance industry wrote $871 billion in net premiums in 2025 — one of the largest financial sectors on earth. These ten carriers protect American homes, cars, and businesses, from mutual giants rooted in the heartland to global commercial powerhouses. Think you know who deserves the #1 spot? Cast your vote below!

Location: US2026309 viewsJul 18, 2026 Updated Oct 3, 2026

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Current Rankings

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#1
State Farm
State Farm dominates as the largest US P&C insurer, with $103B in premiums—significantly ahead of its nearest rival, Berkshire Hathaway. A mutual company headquartered in Bloomington, IL, founded in 1922, it insures 91 million policies through 19,000+ agents nationwide. This scale provides unmatched risk diversification and customer access.
NerdWallet AM Best State Farm
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source: wikipedia
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#2
Berkshire Hathaway (GEICO + General Re)
Berkshire Hathaway amasses $82B in P&C premiums, powered by GEICO's 15% market share in auto insurance and General Re's global reinsurance. Warren Buffett acquired GEICO in 1996 for $2.3B—a deal now worth hundreds of billions, one of the most successful insurance acquisitions in history.
Bankrate Berkshire Hathaway GEICO
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source: wikipedia
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#3
Progressive
Progressive generated $67B in revenue as the #2 US auto insurer and a telematics pioneer. Its Snapshot program has logged 30B+ miles of driving behavior data, enabling usage-based pricing that cuts claims frequency by 10–15% for participants. This data edge makes it 20% more efficient than the average competitor in risk assessment.
Progressive IR Investopedia Progressive
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source: wikipedia
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#4
Allstate
Allstate posts $57B in revenue, ranking as the largest publicly traded US P&C insurer. Based in Northbrook, IL, and known as "You're in good hands" since 1931, it covers 16M+ households with auto, home, and commercial policies. Its combined ratio of 93.5% in 2023 reflected disciplined underwriting, driving strong returns.
Allstate IR ValuePenguin Allstate
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source: wikipedia
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#5
USAA
USAA achieves the highest customer satisfaction in the industry, with over 13 million member households and $38 billion in revenue. In J.D. Power's 2023 survey, USAA scored 892 out of 1,000, 70 points above the industry average. This exclusive focus drives loyalty and retention rates that outpace all competitors on this list.
J.D. Power NerdWallet USAA
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source: wikipedia
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#6
Liberty Mutual
Liberty Mutual is one of the largest US P&C insurers with $48 billion revenue, operating in 29 countries and serving over 30 million customers globally. As a mutual company based in Boston, it returns profits to policyholders rather than shareholders. Its global combined ratio came in at 94% in 2023, reflecting disciplined underwriting across its international operations.
Liberty Mutual IR Bankrate Liberty Mutual
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source: wikipedia
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#7
Travelers Companies
Travelers stands alone as the only pure-play P&C insurer in the Dow Jones Industrial Average, generating $42 billion revenue from Hartford, Connecticut. Travelers achieved a 92% loss ratio on property insurance in 2023, compared to the industry average of 96%. This discipline in underwriting produces consistent return on equity of 12% annually.
Insurance Business Travelers IR Travelers
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source: wikipedia
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#8
Chubb
Chubb is the largest US commercial P&C insurer with $53 billion global revenue, headquartered in Switzerland but deeply rooted in US markets. Warren Buffett holds a 6.4% stake, signaling confidence in its high-value home and corporate insurance strategy. Chubb insures roughly 40% of Fortune 500 companies, and posted a combined ratio of 93.2% in 2023 alongside premium growth of 11% year-over-year.
Insurance Business Chubb IR Chubb
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#9
Hartford Financial Services
Hartford Financial Services is a dominant force in commercial insurance for mid-sized businesses, leveraging over two centuries of stability since 1810. This longevity and focus on middle-market businesses make it a trusted partner for risk management.
NerdWallet Hartford Financial IR The Hartford
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source: wikipedia
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#10
Nationwide
Nationwide protects over 5 million policyholders across auto, home, farm, and commercial lines, generating $33B in revenue from its Columbus, OH base. The mutual insurer’s combined ratio of 97.3% in 2023 undercuts the industry average of 101.5% for personal lines, reflecting disciplined underwriting. Its “on your side” reputation is backed by a 4.2% premium growth rate, which is 1.1 points above the typical rival’s 3.1% increase for personal insurance. With a surplus of $18.7B, Nationwide offers strong financial stability for diverse coverage needs.
Bankrate Nationwide IR Nationwide
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source: wikipedia
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Current Rankings

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Frequently Asked Questions About US Property & Casualty Insurance

Who is the largest property and casualty insurer in the United States? State Farm is the largest US P&C insurer, writing over $103 billion in net premiums — nearly double its closest publicly traded competitor.

What does property and casualty (P&C) insurance cover? P&C insurance covers physical assets such as homes, vehicles, and commercial buildings, as well as liability exposure. It does not include life or health insurance.

How is this ranking determined? Insurers are ranked by net written premiums — the total premium revenue retained after reinsurance — as reported for the 2025 fiscal year.

Which of these insurers are publicly traded? Progressive, Allstate, Travelers, Chubb, and Hartford Financial Services are publicly traded on US exchanges. State Farm, USAA, Liberty Mutual, and Nationwide are mutual or member-owned organizations.

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Frequently asked questions

Which companies are the top 10 property and casualty insurers in the US?

The top 10 are typically State Farm, Berkshire Hathaway (GEICO), Progressive, Allstate, Travelers, Chubb, Liberty Mutual, USAA, Nationwide, and Farmers, though rankings vary by premium volume.

How are property and casualty insurers ranked in these top 10 lists?

They are most commonly ranked by direct premiums written, which measures the total insurance premiums collected from policyholders.

What does property and casualty insurance cover?

Property and casualty insurance covers risks related to property damage (e.g., home, auto) and liability for injuries or damage to others, including policies like auto, home, renters, and commercial insurance.

Is GEICO considered a property and casualty insurer?

Yes, GEICO, a subsidiary of Berkshire Hathaway, is a major property and casualty insurer primarily known for auto insurance.

How can I decide which top P&C insurer is best for me?

Compare factors like coverage options, premiums, customer service ratings, financial strength, and discounts; the top insurers often excel in different areas, so choose based on your specific needs.