The largest property and casualty insurance companies in the world wrote a combined $1.45 trillion in premiums in the past year. Find out which insurers rank in the top 10
The global property and casualty (P&C) sector continues to face unprecedented challenges, pushing up claims costs and making investment returns less predictable. Many P&C insurers weathered the storm by making big changes in how they conduct business.
These include the firms on this list. In this article, Insurance Business ranks the world’s largest property and casualty insurance companies based on written premiums in the past year. We will also provide a region-by-region breakdown of the top P&C insurers. The figures in this guide are based on the data market intelligence firm S&P Global gathered.
Read on and learn more about the industry’s biggest players in this article.
US-based insurance companies dominated the list, accounting for 40% of all written premiums. China is the second-most represented country, with insurers there contributing over 12% to the global figure.
In terms of region, North America is home to the largest number of insurers at 23, responsible for 46% of the overall premiums written. Europe comes next contributing 33.5% to the total. Asia follows accounting for 20.7%.
Here are the top 10 largest property and casualty insurance companies in the world based on the report.
1. State Farm
Country of domicile: US
Direct written premiums: $77.59 billion
Market share: 5.34%
State Farm is the industry’s biggest player, both in the US and overseas. The Bloomington,