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Best’s News & Research Service - July 22, 2022 09:40 AM (EDT)

Best’s Rankings: Direct Premiums Rise 6.5% for US Total Auto in 2021

OLDWICK, N.J. //BestWire// - Direct premiums written for U.S. total automobile insurance rose 6.5% to $315.59 billion, according to a Best’s Ranking.

Progressive Insurance Group bypassed State Farm as the leading writer of total U.S. auto policies with a 14.2% rise in direct premiums written in 2021.

The increase gave Progressive a 14.1% share of the total U.S. auto market with $44.53 billion in direct premiums written.

State Farm had premium growth of 3.5% to $42.5 billion, leaving it with 13.5% market share, down from 13.9%, it said.

Berkshire Hathaway retained its third place in direct premiums written, with $39.1 billion written in 2021, it said. Berkshire increased its market share to 12.4%, it said.

Among the top 10 writers, direct premiums written fell by 0.2% at No. 5 USAA Group; and 2.5% at No. 9 Nationwide Group, it said.

The rankings include 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 Timothy Darragh, associate editor, BestWeek:

Premiums Automobile Insurance Best's Rankings

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