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Best’s News & Research Service - June 16, 2022 11:19 AM (EDT)

Best’s Rankings: Progressive Surpasses State Farm to Become Largest US Total Auto Writer in 2021

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OLDWICK, N.J. //BestWire// - Progressive Insurance Group has overtaken State Farm Group to become the largest U.S. total automobile insurance writer with a 14.1% market share, compared with State Farm’s 13.5% share, according to a new Best’s Rankings report.

Progressive increased direct premiums written 14.2% last year to $44.53 billion. State Farm dropped to the second-largest total auto writer after DPW increased 3.5% to $42.5 billion in 2021.

Direct premiums written rose 6.5% for all U.S. total auto writers, to $315.57 billion.

Berkshire Hathaway, thanks mostly to its Geico unit, remained the third-largest U.S. total auto writer with $39.1 billion in direct premiums written, an 11.1% increase that saw it improve its market share to 12.4%.

The remaining top-10 writers also retained their prior-year rankings. Direct premiums written declined at two insurers — No. 5 USAA Group, by 0.2%, and No. 9 Nationwide Group, by 2.5%.

The ranking includes direct premiums written, percentage change, market share, adjusted loss ratios, and percentage of company premiums.

Subscribers can access the report and data here.

Learn more about Best’s News and Research Service.

(By Renée Kiriluk-Hill, associate editor, BestWeek:

Property And Casualty Insurance Automobile Insurance Best's Rankings

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