Filed Under:Markets, Personal Lines

Top 15 homeowners' insurance carriers for 2016, as ranked by NAIC

Direct premiums written among the top 25 homeowners' insurance providers totaled $91.3 billion in 2016. (Photo: Shutterstock)
Direct premiums written among the top 25 homeowners' insurance providers totaled $91.3 billion in 2016. (Photo: Shutterstock)

Independent property & casualty insurance agents and brokers often work with a variety of home insurers.

To keep insurance professionals up-to-date on the degree of market concentration of different insurance writers, the National Association of Insurance Commissioners (NAIC), provides annual market share data.

The 2016 market share homeowners' report includes countrywide direct written premium totals for the top 25 groups and companies as reported on the annual statement for insurers that report to the NAIC. Direct premiums written among the top 25 providers totaled $91.3 billion in 2016, compared with $89 billion in 2015 and $86.7 billion in 2014.

Related: Here are the top 10 P&C groups in 2016, as ranked by NAIC

The top 10 providers accounted for 61.7 percent of 2016 direct premiums written, compared with 61.14 percent of direct premiums written in 2015. The top 10 providers remained the same as in 2014 and 2015, and in the same order. 

The 2016 top 15 homeowners' companies by premium are as follows, according to the NAIC: 

car with Progressive Insurance logo

15. Progressive


Direct premiums written, 2016: $9.25 million.

Direct premiums earned, 2016: $9.27 million.

Direct loss to EP ratio (Direct losses incurred/Direct premiums earned): 49.77.

Direct loss & DCC to EP ratio*: 51.25. 

Market share: 1.01 percent.

Cumulative market share (running total of the individual company market shares): 67.74 percent.

*(Direct losses incurred + Direct defense and cost containment expenses incurred) / (Direct premiums earned)

AIG insurance headquarters

14. American International Group (AIG)


Direct premiums written, 2016: $1.10 billion.

Direct premiums earned, 2016: $1.10 billion.

Direct loss to EP ratio: 52.43.

Direct loss & DCC to EP ratio: 56.13. 

Market share: 1.20 percent.

Cumulative market share: 66.72 percent.

Related: 6 homeowners' policy endorsement agents and brokers need to know

The Hartford sign

13. Hartford Fire & Casualty


Direct premiums written, 2016: $1.11 billion.

Direct premiums earned, 2016: $1.14 billion.

Direct loss to EP ratio: 54.41.

Direct loss & DCC to EP ratio: 54.78

Market share: 1.22 percent.

Cumulative market share: 65.53 percent.

Related: U.S. homeowners' premiums to reach $91B for 2016

Metropolitan Insurance Group logo

12. Metropolitan


Direct premiums written, 2016: $1.14 billion.

Direct premiums earned, 2016: $1.15 billion.

Direct loss to EP ratio: 60.62.

Direct loss & DCC to EP ratio: 61.30

Market share: 1.24 percent.

Cumulative market share: 64.31 percent.

Related: 20 home insurance companies ranked highest for customer satisfaction

Auto-Owners Insurance logo

11. Auto Owners


Direct premiums written, 2016: $1.25 billion.

Direct premiums earned, 2016: $1.23 billion.

Direct loss to EP ratio: 47.34.

Direct loss & DCC to EP ratio: 48.76

Market share: 1.37 percent.

Cumulative market share: 63.06 percent.

Related: 6 things you need to know about insuring a condo — before buying one

Erie Insurance logo

10. Erie Insurance


Direct premiums written, 2016: $1.54 billion.

Direct premiums earned, 2016: $1.51 billion.

Direct loss to EP ratio: 46.54.

Direct loss & DCC to EP ratio: 48.60

Market share: 1.69 percent.

Cumulative market share: 61.70 percent.

Related: 10 best and worst cities for first-time home buyers in 2016

Chubb insurance

9. Chubb


Direct premiums written, 2016: $2.71 billion.

Direct premiums earned, 2016: $2.62 billion.

Direct loss to EP ratio: 53.15.

Direct loss & DCC to EP ratio: 54.38

Market share: 2.96 percent.

Cumulative market share: 60.01 percent.

Related: My homeowners' policy covers that?

American Family Insurance logo

8. American Family Insurance


Direct premiums written, 2016: $2.86 billion.

Direct premiums earned, 2016: $2.70 billion.

Direct loss to EP ratio: 48.36.

Direct loss & DCC to EP ratio: 48.78

Market share: 3.13 percent.

Cumulative market share: 57.06 percent.

Related: Harris Poll names top auto and home insurance brands for 2016

Nationwide insurance flag

7. Nationwide


Direct premiums written, 2016: $3.31 billion.

Direct premiums earned, 2016: $3.32 billion.

Direct loss to EP ratio: 57.61.

Direct loss & DCC to EP ratio: 58.93

Market share: 3.61 percent.

Cumulative market share: 53.93 percent.

Related: Does a homeowners' policy cover a boathouse?

Travelers Plaza

6. Travelers


Direct premiums written, 2016: $3.40 billion.

Direct premiums earned, 2016: $3.35 billion.

Direct loss to EP ratio: 45.67.

Direct loss & DCC to EP ratio: 47.37

Market share: 3.71 percent.

Cumulative market share: 50.31 percent.

Related: These 10 states have the lowest homeowners' premiums

USAA insurance logo

5. USAA


Direct premiums written, 2016: $5.34 billion.

Direct premiums earned, 2016: $5.13 billion.

Direct loss to EP ratio: 69.37.

Direct loss & DCC to EP ratio: 69.77

Market share: 5.85 percent.

Cumulative market share: 46.60 percent.

Related: Top states where homes take a beating from Spring storms

Farmers Insurance sign

4. Farmers Insurance


Direct premiums written, 2016: $5.52 billion.

Direct premiums earned, 2016: $5.42 billion.

Direct loss to EP ratio: 53.84.

Direct loss & DCC to EP ratio: 54.97

Market share: 6.04 percent.

Cumulative market share: 40.75 percent.

Related: These 10 states have the highest homeowners' premiums

Liberty Mutual Insurance Company building

3. Liberty Mutual


Direct premiums written, 2016: $6.16 billion.

Direct premiums earned, 2016: $6.09 billion.

Direct loss to EP ratio: 51.58.

Direct loss & DCC to EP ratio: 53.02

Market share: 6.75 percent.

Cumulative market share: 34.71 percent.

Related: Getting into the habit of offering flood insurance

Allstate building sign

2. Allstate


Direct premiums written, 2016: $7.90 billion.

Direct premiums earned, 2016: $7.91 billion.

Direct loss to EP ratio: 49.98.

Direct loss & DCC to EP ratio: 51.73

Market share: 8.66 percent.

Cumulative market share: 27.96 percent.

Related: Home, sweet home: Homeowners' insurance by the numbers

State Farm Insurance sign

1. State Farm


Direct premiums written, 2016: $17.61 billion.

Direct premiums earned, 2016: $17.72 billion.

Direct loss to EP ratio: 54.20.

Direct loss & DCC to EP ratio: 55.57

Market share: 19.30 percent.

Cumulative market share: 19.30 percent.

Related: 7 homeowners trends for 2017

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