Top 10 Business Insurance Providers in the U.S.

Business Insurance Carriers

The NAIC and S&P Global Market Intelligence released the top ten commercial insurance providers in the United States, highlighting those companies which own the largest share of the business insurance market based upon direct premiums written. Direct premiums include the total amount of policy premiums collected and do not calculate any transfer of premiums to reinsurers. Below is a breakdown of each commercial insurance company that made the list.

American International Group (AIG) – 5.8%

Claiming 5.8% of the market share, AIG offers coverage to their 90 million clients in more than 100 countries. AIG roots are tracked back to China in 1919 when the company first launched as an insurance agency by Cornelius Vander Starr. AIG recently hired Brian Duperreault, in addition to acquiring his company Hamilton Insurance, to be the new President and CEO and lead them into an innovative future.

Chubb, Ltd. – 5.7%

Chubb, Ltd. was first founded in 1882 by Thomas Caldecot Chubb and his son, Percy in New York City. The initial mission of the company was to insure ships and cargoes. Over time, Chubb grew to offer coverage in more than 54 countries, offering both commercial and personal lines insurance products. In 2016, Chubb was purchased by ACE and recognized by Private Asset Management (PAM) as the highest net worth insurance company.

Travelers Companies Inc. – 5.6%

Travelers claimed spot three on the top ten list, just 0.2% behind AIG in market share. Founded in 1864 when J.G. Batterson, along with nine additional Hartford businessmen, saw a need to insure those traveling by railroad or boat. Travelers operates in five countries, employs over 30,000 people, and is the sole property/casualty company in the Dow Jones Industrial Average.

Liberty Mutual – 4.7%

Founded in 1912 as The Massachusetts Employees’ Insurance Association (MEIA), Liberty Mutual attributes a part of its success and growth to a 1911 law requiring Massachusetts employers to carry workers compensation insurance. Unlike the majority of commercial carriers, Liberty Mutual is owned by the insureds instead of stockholders. Today, Liberty Mutual chooses to give back through sponsorships of the U.S. Olympics, U.S. Rowing, the U.S. Soccer Federation, and more.

Zurich Insurance Group – 4.6%

With headquarters in Switzerland, Hong Kong, and Illinois, Zurich Insurance Group employs 54,000 individuals and provides insurance products in over 200 countries. Forbes named Zurich as one of the top 500 Best Employers in America.

CNA Financial Group – 3.2%

CNA Financial Group took the sixth spot on the list with 3.2% market share. With offices in the United States, Canada, and Europe, CNA has been helping business owners since 1897 and is majority owned by the Loews Corporation. JD Power recognized CNA as one of the top commercial insurance carriers in 2016 with a score of 767 out of 1,000, just seven points behind the winner.

Nationwide Mutual Group – 2.9%

Officially founded in 1955, Nationwide Insurance began as the Farm Bureau Mutual in 1925. The company decided to change its name when it expanded beyond their initial mission of providing auto insurance for farmers. Today Nationwide has more than $158 billion in statutory assets and offers personal and commercial insurance products. They are avid supporters of Feeding America and the American Red Cross.

Hartford Financial Services – 2.6%

Dating back to 1810, Hartford Financial Services began a fire insurance company. Today, they are headquartered in Hartford, Connecticut and insure more than 1 million small businesses. They have been named nine years in a row as one of the world’s most ethical companies and a recipient of the Ethisphere award.

Berkshire Hathaway Inc. – 2.4%

Owned by the infamous Warren Buffet, Berkshire Hathaway Inc. wasn’t always a household name. The company was originally eight separate personal lines insurance companies located across the United States. Today there are six total Berkshire insurance companies.

Tokio Marine Group – 2.0%

Rounding out the top ten is lesser-known Tokio Marine Group with 2% market share. Founded in 1879, Tokio Marine Group is the first Japan non-life insurance company. Since then, they have expanded to include life insurance, offer commercial insurance products and strive to be a Good Company.