Progressive edges out State Farm with most direct premiums written in 2024

Published 11 hours ago• 2 minute read

Progressive now ranks as the No. 1 U.S. automobile insurer at 16.4% market share, according to 2024 A.M. Best’s rankings.

State Farm came in a close second at 16.2% market share after leading the market the year before.

This past year, Progressive saw direct premiums written (DPW) increase 22.2%, reaching $70.84 billion, while State Farm’s DPW rose 17% to $69.76 billion.

In 2023, the roles were reversed as State Farm moved from No. 2 to No. 1 and Progressive fell to No. 2.

Rounding out the top five carriers for 2024, based on DPW, were Berkshire Hathaway at $44.4 billion, Allstate at $37.24 billion, and USAA at $22.14 billion.

According to A.M. Best, the overall sector saw DPW increase 12.8% to $431.69 billion last year. Adjusted loss ratio improved to 67.4 from 75.4 in 2023.

Auto-Owners Insurance Group moved up a spot to No. 9 in 2024 as DPW increased 20% to $7.31 billion. American Family Insurance Group also moved up one spot and broke into the top 10 with $6.47 billion in DPW, up 8.2% from the prior year.

The full report includes direct premiums written, change in premiums, market share, adjusted loss ratio, and percentage of the line in the company’s overall business.

Earlier this year, a record-high of 22 companies, including six of the largest U.S. auto insurers, received a grade of C- or lower from collision repairers on the 2025 “Insurer Report Card” for how well their claims practices help promote quality repairs and customer service.

None of the top 10 largest and best-known auto insurers received an overall grade higher than a C+, while more than 60 other insurers ranked higher.