Top 100 U.S. Property & Casualty Insurance Companies - Reinsurance News (2024)

FAQs

Who is the largest property and casualty insurance company in the US? ›

1. State Farm. State Farm is the industry's biggest player, both in the US and overseas. The Bloomington, Illinois-based P&C insurance giant wrote almost $78 billion worth of premiums in the past year.

German reinsurer Munich Re was the largest reinsurance company worldwide in 2022. In 2022, the net premiums written by Munich Re amounted to approximately 48.6 billion U.S. dollars. Swiss Re was the second-largest reinsurer with 37 billion U.S. dollars in net premiums. Who are Munich Re?

Personal lines set to drive growth again in 2024; commercial lines to be led by property. We forecast P&C direct premiums written (DPW) growth of 8.0% in 2024 and 5.0% in 2025, after a close-to 10% annual gain between 2021 and 2023.

Analysts at Moody's Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices and improved investment returns.

Guy Carpenter, the “Father of Modern-Day Reinsurance,” disrupted the cotton trade with a data-based approach to analyzing risk that lowered rates for his clients.

Hamburger Feuerkasse (English: Hamburg Fire Office) is the first officially established fire insurance company in the world, and the oldest existing insurance enterprise available to the public, having started in 1676.

Considering State Farm and Geico are the two biggest auto insurance companies in the U.S., most drivers can find what they need from either company, whether that's minimum or full coverage. However, there are a few key differences between State Farm vs. Geico when it comes to auto insurance options.

What is the oldest insurance company in us? ›

1752 The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, the oldest insurance carrier in continuous operation in the United States, was established. 1759 Presbyterian Ministers Fund, the first life insurance company in the United States, was founded.

State Farm Mutual Automobile Insurance Co. is the largest global property and casualty insurer with $77.59 billion of direct premiums written, according to a new ranking by S&P Global Market Intelligence.

The P&C Insurance Industry has entered 2024 with signs of positive change. Many insurers across the industry have taken strides to improve underwriting practices for better risk assessment. While underwriting has taken a greater focus, this has left areas of the country uninsurable or with intense rate hikes.

State Farm is the largest home insurance company in the United States. The company wrote $19.7 billion in premiums in 2020, representing 18% of the home insurance market. It is also the largest auto insurance company, with $40 billion of business.

Market Share of P&C Insurance

According to Statistica, the market size for P&C and Direct insurance is at an all time high, up to $843.63 billion, and up by $22 billion from the previous year in 2023.

The term property and casualty insurance typically contains two primary coverage types: liability coverage and property protection coverage.

CNA is one of the largest U.S. commercial property and casualty insurance companies. Backed by more than 125 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe.