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News Release

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KANSAS CITY, Mo. (March 4, 2024)

NAIC Releases 2023 Market Share Data

Life/Fraternal and Property/Casualty Reports Now Available

Today, the National Association of Insurance Commissioners (NAIC) released data on life/fraternal and property/casualty insurers. The reports provide market share information and identify leading insurance writers in several key lines of business. The reports reflect data filed by insurers as of March 4 and will be refreshed daily through March 8 and then each Monday throughout March.

The 2023 market share data include countrywide direct written premiums for the top 25 groups and companies as reported on the state page of the annual financial statement for insurers that report to the NAIC.

The Life/Fraternal Market Share report contains cumulative market share data for life insurance, annuity considerations, and an aggregate total of life insurance, annuity considerations, and accident/health insurance.

Highlights include:

  • With 96.34% percent of life and accident/health insurance companies reporting, direct premiums written for life insurance are $193,594,599,698.
  • The Top 10 life insurance companies reporting so far have a cumulative market share of 45.82%.
  • Total reported premiums for life insurance, including annuity considerations, and accident and health are $916,642,120,825 as of March 4.

The Property/Casualty Market Share report contains cumulative market share data for the following lines of business: personal auto, commercial auto, workers' compensation, medical professional liability, homeowners, and other liability (excluding auto liability) insurance.

Highlights include:

  • With 95.75% of property and casualty insurance companies reporting so far, direct premiums written for all lines of business are $954,849,866,158.
  • The Top 10 property and casualty companies reporting so far have a cumulative market share of 48.07%.
  • Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 4th, 2024, at $314,788,570,644, which is about 33% of all written premiums.

The full 2023 Market Share Reports for Life/Fraternal Groups and Companies and 2023 Market Share Reports for Property/Casualty Groups and Companies will be available this summer and will contain more in-depth information.

For questions about the reports or data, contact the NAIC Research & Actuarial Department.

About the National Association of Insurance Commissioners

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.