Top 10 US Property & Casualty Insurers by Premium Volume (2025)

Allstate posts $57B in revenue, ranking as the largest publicly traded US P&C insurer. Based in Northbrook, IL, and known as "You're in good hands" since 1931, it covers 16M+ households with auto, home, and commercial policies. Its combined ratio of 93.5% in 2023 reflected disciplined underwriting, driving strong returns.

USAA achieves the highest customer satisfaction in the industry, with over 13 million member households and $38 billion in revenue. In J.D. Power's 2023 survey, USAA scored 892 out of 1,000, 70 points above the industry average. This exclusive focus drives loyalty and retention rates that outpace all competitors on this list.

Liberty Mutual is one of the largest US P&C insurers with $48 billion revenue, operating in 29 countries and serving over 30 million customers globally. As a mutual company based in Boston, it returns profits to policyholders rather than shareholders. Its global combined ratio came in at 94% in 2023, reflecting disciplined underwriting across its international operations.

Travelers stands alone as the only pure-play P&C insurer in the Dow Jones Industrial Average, generating $42 billion revenue from Hartford, Connecticut. Travelers achieved a 92% loss ratio on property insurance in 2023, compared to the industry average of 96%. This discipline in underwriting produces consistent return on equity of 12% annually.

Chubb is the largest US commercial P&C insurer with $53 billion global revenue, headquartered in Switzerland but deeply rooted in US markets. Warren Buffett holds a 6.4% stake, signaling confidence in its high-value home and corporate insurance strategy. Chubb insures roughly 40% of Fortune 500 companies, and posted a combined ratio of 93.2% in 2023 alongside premium growth of 11% year-over-year.

Hartford Financial Services is a dominant force in commercial insurance for mid-sized businesses, leveraging over two centuries of stability since 1810. This longevity and focus on middle-market businesses make it a trusted partner for risk management.

Nationwide protects over 5 million policyholders across auto, home, farm, and commercial lines, generating $33B in revenue from its Columbus, OH base. The mutual insurer’s combined ratio of 97.3% in 2023 undercuts the industry average of 101.5% for personal lines, reflecting disciplined underwriting. Its “on your side” reputation is backed by a 4.2% premium growth rate, which is 1.1 points above the typical rival’s 3.1% increase for personal insurance. With a surplus of $18.7B, Nationwide offers strong financial stability for diverse coverage needs.