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The largest commercial package (CMP) insurers (2025)
The 25 largest U.S. writers of commercial multiple peril - business owner's policies and package policies - by 2025 direct premiums written, from NAIC.
Commercial multiple peril (CMP) is how NAIC counts package policies: the business owner's policy that most small businesses start with, and the larger commercial package policies that combine property and liability for middle-market accounts. It is the line that best shows who insures Main Street. Direct premiums written came to $69.83 billion in 2025, according to NAIC data, and the 25 groups below wrote 67.1% of it.
Unlike the specialty lines, CMP is led by companies most owners have heard of, including several carriers better known for home and car insurance, because their agents sell business owner's policies to the same customers.
The top 25
Ranked by 2025 direct premiums written in commercial multiple peril, U.S. states and territories, by insurance group. Share is of the line's national total ($69.83 billion).
| Rank | Insurer group | 2025 premiums | Share |
|---|---|---|---|
| 1 | Travelers | $6.26 billion | 8.97% |
| 2 | The Hartford | $4.01 billion | 5.74% |
| 3 | Chubb | $3.77 billion | 5.40% |
| 4 | State Farm | $2.94 billion | 4.20% |
| 5 | Tokio Marine | $2.81 billion | 4.02% |
| 6 | Auto-Owners Insurance | $2.75 billion | 3.93% |
| 7 | Liberty Mutual | $2.35 billion | 3.36% |
| 8 | Cincinnati Insurance | $1.96 billion | 2.80% |
| 9 | Erie Insurance | $1.92 billion | 2.75% |
| 10 | Farmers Insurance | $1.77 billion | 2.54% |
| 11 | Allstate | $1.70 billion | 2.43% |
| 12 | Nationwide | $1.63 billion | 2.34% |
| 13 | CNA | $1.51 billion | 2.17% |
| 14 | The Hanover | $1.50 billion | 2.15% |
| 15 | AIG | $1.29 billion | 1.84% |
| 16 | GNY (Greater New York Mutual) | $1.13 billion | 1.61% |
| 17 | W. R. Berkley | $1.06 billion | 1.52% |
| 18 | Berkshire Hathaway | $1.03 billion | 1.48% |
| 19 | AmTrust Financial | $906.8 million | 1.30% |
| 20 | Brotherhood Mutual | $823.7 million | 1.18% |
| 21 | Allianz Commercial | $774.6 million | 1.11% |
| 22 | Church Mutual | $769.6 million | 1.10% |
| 23 | Utica National | $746.0 million | 1.07% |
| 24 | Munich Re | $727.5 million | 1.04% |
| 25 | Markel | $719.3 million | 1.03% |
The five largest groups wrote 28.3% of the line, and Travelers alone wrote 9.0%.
How much of each leader's business this is
Some of the largest writers are specialists for whom commercial multiple peril is most of what they do; for others it is one line among many. The share below is the line's portion of each group's 2025 premium across the 17 commercial lines in our overall ranking.
| Insurer group | Commercial multiple peril premiums | Share of its commercial premiums |
|---|---|---|
| Travelers | $6.26 billion | 23% |
| The Hartford | $4.01 billion | 27% |
| Chubb | $3.77 billion | 16% |
| State Farm | $2.94 billion | 31% |
| Tokio Marine | $2.81 billion | 29% |
| Auto-Owners Insurance | $2.75 billion | 36% |
| Liberty Mutual | $2.35 billion | 12% |
| Cincinnati Insurance | $1.96 billion | 31% |
| Erie Insurance | $1.92 billion | 49% |
| Farmers Insurance | $1.77 billion | 30% |
Reading the numbers
Direct premiums written are the premiums an insurer booked in the year for policies it issued, before it passed any of the risk to reinsurers. They are the cleanest measure of who sells the most commercial multiple peril coverage, but they move with price as well as volume: in a year of steep rate increases a carrier can climb the table without insuring a single extra business, and a carrier that shrinks a troubled book on purpose will fall. They also say nothing about profit. NAIC publishes loss ratios beside the premiums, and a large writer with a poor loss ratio may be the one raising rates or tightening appetite next year. Finally, group totals hide brands. The policy you buy is issued by one company inside the group, often under a name you will not see in this table; the how to judge a business insurance company guide explains how to check the company actually named on your quote.
What the ranking means for a buyer
A large CMP writer is usually one with a well-developed small-business product: appetite guides by class, online or agent quoting in minutes, and endorsements bundled for common trades. What differs between them is what the package includes by default (business income, equipment breakdown, hired and non-owned auto, cyber, employment practices) and which classes they accept. Compare packages line by line rather than on premium alone; business insurance quote comparison worksheet helps.
Questions to ask before you choose a carrier
- Is my business class eligible for a business owner's policy, or do I need a package policy?
- Does the package include business income, equipment breakdown, hired and non-owned auto, cyber or employment practices by default, or only as add-ons?
- Is property valued at replacement cost, and is there a coinsurance clause or an agreed-value option?
- What are the sublimits for spoilage, signs, outdoor property and valuable papers?
- Can I get certificates and additional insured endorsements online, and how fast?
How this list was built
The figures are direct premiums written in calendar year 2025 for NAIC's commercial multiple peril line, for business in the 50 states, D.C. and U.S. territories, from the NAIC's 2025 Market Share Reports for Property/Casualty Groups and Companies (published August 2026). NAIC reports by insurance group, combining affiliated companies under common ownership as filed with the NAIC in August 2025, so a group may sell under several brand names, and ownership changes since then are not reflected. Direct premiums are what the companies wrote before reinsurance; they measure size, not profitability, service or financial strength. Where a group has a profile on this site its name links to it, with its ratings, contacts and history.
For the overall picture across all commercial lines, see The 100 largest U.S. business insurance companies.
Key takeaways
- U.S. commercial multiple peril direct premiums came to $69.83 billion in 2025 (NAIC).
- The 25 largest groups wrote 67.1% of the line; Travelers was the largest.
- Size measures premium volume, not price, appetite or claims service; check ratings and fit on each profile.
- Groups combine several companies and brands, so the company on your policy may carry a different name.