Leading U.S. mutual P/C insurers by revenue

In 2024, State Farm Insurance was the leading mutual property and casualty insurance company in the United States, with revenues amounting to approximately 104 billion U.S. dollars. Nationwide was the second largest company, with around 55 billion U.S. dollars in revenue that year.

Property and casualty market in the U.S.

The property, casualty and direct insurance market in the United States has been growing steadily over the past decade. However, the number of people employed in this sector has varied considerably over the same period. In 2014, the sector employed approximately 595 thousand people, increasing to around 680 thousand by 2023.

State Farm Insurance

State Farm Mutual Automobile Insurance offer a wide variety of insurance products, including auto insurance, life insurance, homeowners insurance and health insurance. The company is headquartered in Bloomington, Illinois, and held almost ten percent of the total market share in 2023.

Leading mutual property/casualty insurance companies in the United States in 2024, by revenue (in billion U.S. dollars)

Characteristic	Revenue in billion U.S. dollars
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Release date

2025

More information

Region

United States

Survey time period

2024

Supplementary notes

The source adds the following information ":Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators. It also includes companies that file with a government agency but are owned by private companies, domestic or foreign, that do not file such financial statements. Excluded are private companies not filing with a government agency; companies incorporated outside the U.S.; and U.S. companies consolidated by other companies, domestic or foreign, that file with a government agency."
Revenues for insurance companies include premium and annuity income, investment income, and capital gains or losses, but exclude deposits.

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