Top 10 Fire Insurers 2022 | New England Market Share Reports
The National Association of Insurance Commissioners has issued a new in-depth report on the 2021 market share data for insurers within the Property & Casualty marketplace. A total of 33 lines of business have been analyzed both at the national and state level. In response to the publication of this data, Agency Checklists is providing a distillation of the report over the coming weeks featuring the top insurers in various marketplaces in both Massachusetts as well as the rest of the New England states.
The NAIC states that the in-depth report may have a variety of useful purposes for individuals and entities by giving them an “understanding of the overall size of the market”. In addition, the NAIC notes that it may help:
Assess an insurer’s competitive positionCreate benchmarks to compare companiesIdentify the top writersAnalyze the overall size of the marketIdentify premium volume trendsEvaluate market penetration potential Evaluate post-merger market implications
Premium & Market Share
The following is a graph reprinted from the NAIC Property & Casualty Market Share Reports 2021 that highlights the trends in Premium over the past decade:
Graph Source: NAIC
The Top 10 Fire Insurers Nationally
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. FM GLOBAL GRP1,212,2871,151,992106.11 %106.99 %6.40 %6.40 %2. AMERICAN INTL GRP1,015,226960,58759.73 %61.51 %5.36 %11.76 %3. STARR GRP896,746810,45084.39 %88.18 %4.73 %16.50 %4. ALLIANZ INS GRP870,318828,51687.16 %92.22 %4.59 %21.09 %5. TRAVELERS GRP870,252832,36236.37 %37.56 %4.59 %25.68 %6. ZURICH INS GRP851,929865,72247.56 %50.66 %4.50 %30.18 %7. LIBERTY MUT GRP804,637735,52288.96 %91.46 %4.25 %34.43 %8. FARMERS INS GRP696,932638,03536.41 %37.61 %3.68 %38.11 %9. CHUBB LTD GRP662,958627,88974.51 %74.80 %3.50 %41.61 %10. BERKSHIRE HATHAWAY GRP619,402586,93144.83 %48.79 %3.50 %44.88 %
The Fire Insurance Marketplace in Massachusetts
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. FM GLOBAL GRP34,49033,85173.55 %75.14 %9.20 %9.20 %2. AMERICAN INTL GRP22,33722,12519.82 %19.95 %5.96 %15.16 %3. MAPFRE INS GRP21,69722,03953.88 %55.56 %5.79 %20.95 %4. TRAVELERS GRP21,44518,79745.21 %46.57 %5.72 %26.67 %5. ALLIANZ INS GRP19,87915,87920.61 %24.04 %5.30 %31.98 %6. LIBERTY MUT G19,73017,72037.55 %31.83 %5.26 %37.24 %7. ANDOVER GRP18,30617,92735.36 %36.39 %4.88 %42.12 %8. ZURICH INS GRP17,92217,0289.73 %8.80 %4.78 %46.91 %9. STARR GRP16,92115,82725.83 %35.73 %4.51 %51.42 %10. VERMONT MUT GRP16,24416,01242.05 %41.94 %4.33 %55.75 %***STATE TOTAL***374,804360,22836.12 %37.36 %100.00 %55.75 %
Market Share Data Throughout New England
Connecticut
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. BERKSHIRE HATHAWAY GRP13,01012,44846.14 %48.90 %7.74 %7.74 %2. FARMERS INS GRP11,54112,09957.73 %58.50 %6.86 %14.60 %3. FM GLOBAL GRP11,27111,266N/AN/A6.70 %21.30 %4. STARR GRP10,76410,76128.65 %30.46 %6.40 %27.70 %5. AMERICAN INTL GRP10,3869,64433.15 %33.51 %6.18 %33.88 %6. TRAVELERS GRP8,7038,5929.13 %9.50 %5.18 %39.06 %7. MUNICH RE GRP7,4836,97624.77 %25.45 %4.45 %43.51 %8. LIBERTY MUT GRP7,4776,59989.77 %97.05 %4.45 %47.95 %9. ANDOVER GRP6,6146,68262.17 %64.33 %3.93 %51.88 %10. ZURICH INS GRP5,8426,235N/AN/A3.47 %55.36 %***STATETOTAL***168,160164,22230.69 %32.21 %100.00 %55.36 %
Maine
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. FM GLOBAL GRP6,1265,538N/AN/A9.69 %9.69 %2. ALLIANZ INS GR4,0354,09551.19 %52.03 %6.38 %16.08 %3. FARMERS INS GRP3,8373,74436.32 %36.49 %6.07 %22.15 %4. TRAVELERS GRP3,6703,471N/AN/A5.81 %27.95 %5. LIBERTY MUT GRP3,1602,433100.71 %86.01 %5.00 %32.96 %6. ANDOVER GRP3,0543,08728.54 %29.48 %4.83 %37.79 %7. AMERICAN INTL GRP3,0362,94016.67 %16.55 %4.80 %42.59 %8. STARR GRP2,7952,60213.69 %14.68 %4.42 %47.01 %9. AMERICAN NATL FIN GRP2,6902,62426.35 %26.35 %4.26 %51.27 %10. MUNICH RE GRP2,4412,20314.04 %14.39 %3.86 %55.13 %***STATE TOTAL***63,20059,65923.88 %24.13 %100.00 %55.13 %
New Hampshire
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. ALLIANZ INS GRP4,5294,411N/AN/A8.98 %8.98 %2. FM GLOBAL GRP3,7363,6402.44 %2.53 %7.41 %16.39 %3. ZURICH INS GRP2,9103,110N/AN/A5.77 %22.16 %4. AMERICAN INTL GRP2,3842,21027.93 %28.03 %4.73 %26.89 %5. LIBERTY MUT GRP2,3512,065N/A10.24 %4.66 %31.55 %6. FARMERS INS GRP2,1202,1237.86 %8.09 %4.20 %35.75 %7. ANDOVER GRP2,0982,07549.00 %51.36 %4.16 %39.91 %8. AMERICAN NATL FIN GRP2,0331,99737.27 %36.97 %4.03 %43.95 %9. TRAVELERS GRP1,8031,515N/AN/A3.58 %47.52 %10. VERMONT MUT GRP1,6741,650132.48 %132.36 %3.32 %50.84 %***STATE TOTAL***50,42849,67518.55 %20.16 %100.00 % 550.84 %
Rhode Island
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. AMERICAN INTL GRP4,3933,24674.54 %75.34 %7.88 %7.88 %2. FM GLOBAL GRP3,9533,806N/AN/A7.09 %14.96 %3. FARMERS INS GRP3,8213,32443.97 %44.88 %6.85 %21.81 %4. TRAVELERS GRP3,4883,2319.30 %10.40 %6.25 %28.07 %5. ANDOVER GRP3,3993,41048.49 %48.68 %6.09 %34.16 %6. SELECTIVE INS GRP2,3182,10668.85 %69.23 %4.15 %38.31 %7. ZURICH INS GRP2,2682,23223.47 %23.96 %4.07 %42.38 %8. LIBERTY MUT GRP2,0391,770233.12 %254.08 %3.65 %46.03 %9. HERITAGE INS HOLDINGS GRP1,9361,419N/AN/A3.47 %49.51 %10. SOMPO GRP1,6921,57612.44 %13.39 %3.03 %52.54 %***STATE TOTAL***55,78451,73049.30 %51.14 %100.00 %52.54 %
Vermont
COMPANY NAMEDIRECT PREMIUMS WRITTEN (000)DIRECT PREMIUMS EARNED (000) LOSS RATIOLOSS & CONTAINMENT RATIOMARKET SHARECUMULATIVE MARKET SHARE1. ALLIANZ INS GRP11,68512,36378.88 %84.72 %29.74 %29.74 %2. CO OPERATIVE INS COS2,4042,4546.99 %6.89 %6.12 %35.86 %3. LIBERTY MUT GRP2,3801,978226.15 %269.96 %6.06 %41.92 %4. FM GLOBAL GRP2,1832,197N/AN/A5.56 %47.47 %5. AMERICAN NATL FIN GRP2,1422,04216.61 %16.74 %5.45 %52.92 %6. FARMERS INS GRP1,4661,39651.35 %51.45 %3.73 %56.65 %7. VERMONT MUT GRP1,3731,36314.87 %14.75 %3.50 %60.15 %8. ZURICH INS GRP1,3108822.70 %3.21 %3.33 %63.48 %9. AMERICAN INTL GRP1,2231,3095.24 %5.19 %3.11 %66.59 %10. TRAVELERS GRP1,047990N/AN/A2.66 %69.26 %***STATE TOTAL***39,29338,73042.27 %46.48 %100.00 %69.26 %
Other New England Market Share Reports
The following is a list of other New England market share reports on select lines of business as published in the NAIC report.
