Install
Property insurers
- Global and national commercial carriers 15
- Regional carriers 20
- Personal-lines carriers that also insure businesses 9
- Specialty and E&S insurers 31
- Workers' comp specialists and state funds 7
- Medical and professional liability specialists 3
- Niche and affinity insurers 9
- Small business specialists 12
- Cyber specialists 3
- Program carriers and fronting insurers 6
- Reinsurer-owned commercial insurers 5
| # | Insurer | Type | Commercial premiums (2025) | AM Best |
|---|---|---|---|---|
| 1 | TravelersThe largest U.S. business insurer by 2025 commercial premiums. A++ rated, sold through independent agents, No. 1 in package policies, surety and fidelity. | Global and national commercial carriers | $27.13 billion | A++ (Superior) |
| 5 | Zurich North AmericaU.S. arm of Swiss-based Zurich Insurance Group, a broker-driven insurer of mid-size and large companies, strong in workers' comp, surety and construction. | Global and national commercial carriers | $14.62 billion | A+ (Superior) |
| 12 | State FarmThe largest U.S. personal-lines insurer also writes BOPs, commercial auto, contractors and farm policies for small businesses through its own agents. | Personal-lines carriers that also insure businesses | $9.35 billion | A+ (Superior) |
| 18 | Starr Insurance CompaniesPrivately held global specialty insurer based in New York; the No. 1 U.S. writer of commercial fire and aircraft insurance and No. 2 in ocean marine. | Specialty and E&S insurers | $7.29 billion | A (Excellent) |
| 20 | AXA XLAXA's commercial and specialty division, built on XL Group (bought 2018); writes liability, excess, property and specialty lines for mid-size and large firms. | Global and national commercial carriers | $6.76 billion | A+ (Superior) |
| 21 | Allianz CommercialAllianz's commercial arm (formerly AGCS, absorbing Fireman's Fund); large corporate property, casualty, marine, aviation and specialty cover through brokers. | Global and national commercial carriers | $6.61 billion | A+ (Superior) |
| 22 | Cincinnati InsuranceOhio insurer sold only through independent agents in 46 states; known for three-year commercial packages, local field claims staff and its own E&S company. | Regional carriers | $6.32 billion | A+ (Superior) |
| 24 | Farmers InsurancePolicyholder-owned personal-lines group managed by Zurich's Farmers Group; sells small-business package, auto and workers' comp through Farmers agents. | Personal-lines carriers that also insure businesses | $5.87 billion | A (Excellent) |
| 26 | FMPolicyholder-owned property insurer (formerly FM Global) for large and midsize companies, known for engineering-led loss prevention and member credits. | Global and national commercial carriers | $5.19 billion | A+ (Superior) |
| 29 | The HanoverWorcester, Mass., agency carrier (est. 1852) writing small and midsize business packages, comp and auto, plus specialty lines, in 44 states and D.C. | Regional carriers | $4.21 billion | A (Excellent) |
| 32 | MSIG USAU.S. commercial arm of Japan's MS&AD: property, casualty, marine and financial lines for mid-size and multinational firms, plus MS Transverse fronting. | Global and national commercial carriers | $3.42 billion | A+ (Superior) |
| 39 | WestfieldOhio regional founded in 1848, selling commercial, farm and surety coverage through independent agents, plus E&S and Lloyd's capacity via Westfield Specialty. | Regional carriers | $2.48 billion | A (Excellent) |
| 41 | American Family InsuranceWisconsin mutual known for home and auto; insures small businesses and farms through AmFam agents and Main Street America's independent agents. | Personal-lines carriers that also insure businesses | $2.43 billion | A (Excellent) |
| 49 | Swiss Re Corporate SolutionsSwiss Re's commercial insurance arm: high-capacity property, casualty, professional, surety, stop loss and captive fronting for large U.S. companies. | Reinsurer-owned commercial insurers | $1.89 billion | A+ (Superior) |
| 57 | IAT Insurance GroupPrivate Raleigh specialty carrier writing trucking and moving insurance, inland marine, E&S casualty and property, surety and management liability via agents. | Specialty and E&S insurers | $1.54 billion | A- (Excellent) |
| 61 | GNY (Greater New York Mutual)New York mutual founded in 1914 that writes package policies for apartment, co-op, office, restaurant and light industrial risks in 16 states and D.C. | Regional carriers | $1.36 billion | A+ (Superior) |
| 67 | UFG InsuranceCedar Rapids, Iowa, commercial insurer founded in 1946, selling packages, auto, comp and surety through about 850 independent agencies; Nasdaq: UFCS. | Regional carriers | $1.18 billion | A- (Excellent) |
| 69 | ICW GroupPrivately held San Diego insurer known for workers' comp in 22 states and commercial earthquake cover, now adding E&S excess and California commercial lines. | Workers' comp specialists and state funds | $1.17 billion | A (Excellent) |
| 70 | Church MutualWisconsin specialist that insures more than 50,000 churches plus nonprofits, schools and camps; rated A (Excellent) with a negative outlook since 2024. | Niche and affinity insurers | $1.14 billion | A (Excellent), negative outlook |
| 74 | Encova InsuranceColumbus, Ohio mutual formed from Motorists and BrickStreet; workers' comp in 26 states and D.C. and business packages in 22, sold by independent agents. | Regional carriers | $1.04 billion | A (Excellent) |
| 75 | Farm Bureau Financial ServicesIowa-based Farm Bureau insurer and the largest U.S. farmowners writer, selling farm, ranch and small-business coverage in eight states through exclusive agents. | Niche and affinity insurers | $1.03 billion | A (Excellent) |
| 76 | SECURA InsuranceWisconsin mutual founded in 1900 that sells business, nonprofit, special-event and farm insurance in 13 states through independent agents. | Regional carriers | $1.03 billion | A (Excellent) |
| 82 | Frankenmuth InsuranceMichigan regional mutual founded in 1868. It sells package, auto, comp and surety coverage for businesses through independent agents in 16 states. | Regional carriers | $920.0 million | A (Excellent) |
| 90 | GuideOne InsuranceWest Des Moines insurer of churches, other religious organizations and human services nonprofits, plus program business; A- (Excellent) with a negative outlook. | Niche and affinity insurers | $743.4 million | A- (Excellent), negative outlook |
| 93 | COUNTRY FinancialBloomington, Illinois insurer founded by farmers in 1925; sells farm, small business and workers' comp coverage through its own reps in 19 states. | Personal-lines carriers that also insure businesses | $691.8 million | A+ (Superior), stable outlook |
| 94 | Shelter InsuranceMissouri mutual selling auto, home, farm and small business policies through exclusive agents in 14 states; Haulers and AmShield use independent agents. | Personal-lines carriers that also insure businesses | $680.0 million | A (Excellent) |
| 97 | Donegal Insurance GroupPennsylvania regional founded in 1889: a mutual plus its Nasdaq-listed affiliate. It sells BOP, package, auto and comp through independent agents in 21 states. | Regional carriers | $649.1 million | A (Excellent) |
| 100 | American Coastal InsuranceSt. Petersburg insurer of Florida condo associations, HOAs, apartment complexes and assisted living facilities, sold only through two MGAs since 2007. | Niche and affinity insurers | $612.6 million | — |
| — | HSB (Hartford Steam Boiler)Munich Re's Hartford-based equipment breakdown specialist since 1866: inspection, cyber, EPL and AI liability, mostly sold inside other insurers' policies. | Specialty and E&S insurers | — | A++ (Superior) |
Ranked by 2025 U.S. commercial lines direct premiums written: NAIC 2025 market share data for 17 commercial lines (states and U.S. territories), summed by insurance group. A group's premium in a line where it is outside NAIC's top 125 is not counted. Seven groups are left out because a business cannot buy from them or their premium in these lines is mostly consumer coverage: USAA, CSAA, the Ohio Bureau of Workers' Compensation, Florida's Citizens, the Texas FAIR Plan and windstorm pool, Assurant and Generali. Brands without a rank are well-known companies inside these groups or outside the top 100.