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New York -- State Farm Mutual Group has the largest market share among underwriters of homeowners insurance coverage, according to the Insurance Information Institute.
The institute, relying on data from the NAIC annual statement database and Highline Media, said State Farm reported $12.1 billion in direct premiums underwritten for homeowners coverage in 2004, representing a 22.7% market share.
The next biggest underwriter, Allstate Insurance Co., underwrote premiums totaling just over $6 billion for an 11.2% share. Farmers Insurance Group ($3.7 billion, or 7%), Nationwide Group, ($2.5 billion, or 4.7%) and St. Paul Travelers ($2.3 billion, or 4.3%) rounded out the top five.
The Insurance Information Institute said that claims account for 73% of the insurance industry's ...
Source: HighBeam Research, State Farm Is Leading Homeowners Underwriter.(Brief Article)