State Farm leads the latest completed top-25 ranking of U.S. property/casualty insurers, followed by Progressive and Berkshire Hathaway. AM Best’s list, published March 20, 2026, ranks insurer groups by 2025 net premiums written—not by customer satisfaction, claims performance, or financial strength.
Top 25 U.S. property/casualty insurers in 2025
The following ranking is based on net premiums written (NPW) as of December 31, 2025. Amounts are in U.S. dollars; AM Best reports them in thousands. Its report measures domestic premiums from affiliated and unaffiliated U.S. companies and licensed foreign insurers that had submitted a 12-month 2025 statutory statement by March 17, 2026. Group totals reflect known group structure as of December 31, 2025. AM Best cautions that totals can be affected when group members have not submitted statements and that accuracy cannot be guaranteed. AM Best, U.S. Property/Casualty – 2025 Financial Results.
| Rank | Insurer group | 2025 net premiums written |
|---|---|---|
| 1 | State Farm Group | $113,791,611,000 |
| 2 | Progressive Insurance Group | $83,147,835,000 |
| 3 | Berkshire Hathaway Insurance | $80,972,045,000 |
| 4 | Allstate Insurance Group | $56,741,220,000 |
| 5 | Travelers Group | $42,115,576,000 |
| 6 | USAA Group | $37,534,172,000 |
| 7 | Liberty Mutual Insurance Companies | $37,229,238,000 |
| 8 | Chubb INA Group | $27,367,147,000 |
| 9 | Farmers Insurance Group | $21,548,423,000 |
| 10 | Hartford Insurance Group | $17,703,387,000 |
| 11 | American Family Insurance Group | $17,340,276,000 |
| 12 | Auto-Owners Insurance Group | $16,596,159,000 |
| 13 | Nationwide P&C Group | $16,503,384,000 |
| 14 | Fairfax Financial (USA) Group | $14,348,745,000 |
| 15 | American International Group | $13,166,823,000 |
| 16 | Erie Insurance Group | $13,078,147,000 |
| 17 | Tokio Marine U.S. P&C Group | $11,474,627,000 |
| 18 | W. R. Berkley Insurance Group | $11,414,504,000 |
| 19 | CNA Insurance Companies | $10,133,350,000 |
| 20 | Cincinnati Insurance Companies | $9,754,192,000 |
| 21 | Munich-American Holding Corporation Companies | $9,535,582,000 |
| 22 | Everest Re U.S. Group | $9,138,046,000 |
| 23 | Auto Club Enterprises Insurance Group | $8,501,099,000 |
| 24 | CSAA Insurance Group | $8,009,560,000 |
| 25 | Arch Insurance Group | $6,782,283,000 |
AM Best reports that these 25 writers together recorded $693,927,427,000 in 2025 net premiums written. The ranking is of groups, not necessarily individual consumer-facing brands or policies.
What this ranking measures—and what it does not
Net premiums written are the basis AM Best uses to order its 2025 list. They should not be confused with direct premiums written (DPW), the measure used in other rankings. DPW reflects premiums written directly by insurers; NPW is a distinct measure that accounts for reinsurance. A list ordered by one cannot be presented as if it were ordered by the other.
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Nor does premium volume establish which insurer is best for a particular household or business. It does not show the price an applicant will receive, the coverage terms available in a location, claims service, customer complaints, or a separately assessed financial-strength rating.
How the top 10 look under 2024 direct premiums written
The U.S. Treasury Federal Insurance Office’s September 2025 report provides a separate combined-lines ranking for 2024, using direct premiums written sourced to S&P Global. These figures are not a continuation of AM Best’s 2025 NPW list.
| Rank | Insurance group | 2024 direct premiums written | Share of total |
|---|---|---|---|
| 1 | State Farm | $108,976,155,000 | 10.27% |
| 2 | Progressive | $75,884,809,000 | 7.15% |
| 3 | Berkshire Hathaway | $63,279,827,000 | 5.96% |
| 4 | Allstate Corp | $55,859,006,000 | 5.26% |
| 5 | Liberty Mutual | $44,138,829,000 | 4.16% |
| 6 | Travelers | $41,921,555,000 | 3.95% |
| 7 | USAA | $36,134,506,000 | 3.41% |
| 8 | Chubb | $33,327,135,000 | 3.14% |
| 9 | Farmers Insurance | $28,288,709,000 | 2.67% |
| 10 | Zurich | $18,565,277,000 | 1.75% |
The Treasury report gives the 2024 combined-lines top 10 a total of $506,375,808,000 in direct premiums written, equal to 47.72% of the table’s market total. Its Annual Report on the Insurance Industry (September 2025) uses a different reporting year and premium measure from AM Best’s current top-25 ranking.
Leaders change when the insurance line changes
Property/casualty insurance includes distinct personal and commercial markets. The Treasury report explains that insurers’ products are generally categorized as personal lines or commercial lines. Combining them produces a useful broad market view, but it can obscure which groups lead in each segment.
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- Personal lines: State Farm ranked first in Treasury’s 2024 table, with $99,598,083,000 in direct premiums written and an 18.47% share. The top 10 groups represented 69.88% of that segment.
- Commercial lines: Chubb ranked first, with $26,796,184,000 in direct premiums written and a 5.22% share, followed by Travelers and Liberty Mutual. The top 10 represented 34.82% of the segment.
The personal- and commercial-lines figures and shares are from the Treasury’s 2024 tables. They answer different questions from the combined ranking; the sector total may also include small amounts of accident-and-health business and other adjustments.
Why published insurer rankings may differ
- Premium measure: A list based on DPW can have a different ordering from one based on NPW.
- Reporting year: The current completed AM Best top 25 covers 2025, while Treasury’s cited direct-premium comparison covers 2024.
- Lines included: Combined P&C, personal lines, and commercial lines are different populations.
- Groups and reporting scope: Sources may consolidate affiliates differently or use different insurer populations and data pipelines.
- Data completeness: NAIC describes its selected-line 2025 top-25 market-share material as countrywide direct written premium reported on annual-statement State Pages by insurers filing with NAIC, and says it is provided “as the data is received.” Check the page’s status and access date before treating a rolling release as a final annual ranking: NAIC Research & Actuarial Department.
The Insurance Information Institute’s 2024 line tables note that premiums are before reinsurance, include state funds, and calculate market share from U.S. totals excluding territories. Its cited source is NAIC data sourced from S&P Global Market Intelligence. Those scope choices are another reason to read a table’s notes rather than compare rank numbers alone: Insurance Information Institute, Facts + Statistics: Insurance company rankings.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to use the list when comparing insurers
Use premium rankings to understand market scale, not to choose a policy by rank. For a personal decision, compare the coverage and exclusions offered for your location, the price quoted for your own risk profile, and the service or claims features that matter to you. Check financial strength and complaint information separately, using sources and measures designed for those questions.
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