Now let’s check out the largest property and casualty insurance companies in 2018 by reading Insider Monkey’s latest list. Although there are many subcategories of property and casualty insurance, most people are familiar with two, homeowners insurance and car insurance. Homeowners insurance helps insure a home against theft or fire. It can also provide liability coverage in the event that someone gets hurt in your home. Car insurance insures a vehicle and can provide liability coverage in the case of an accident. Many states require drivers to have car insurance when driving. Like many things in life, the exact coverage and conditions needed for an insurance contract to pay out varies from policy to policy. In aggregate, property and casualty insurers make money by setting the price of coverage above the amount of payouts. If done correctly, property and casualty insurance can be a very profitable business, especially if an insurance company has considerable scale. Due to the recurrent nature of insurance contracts, many insurer’s revenues are rather stable versus that of other companies.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of the largest property and casualty insurance companies in 2018 from their list.
The first one is USAA. USAA did $20.151 billion in direct premiums written and reported $19.494 billion in direct premiums earned. The second insurance company on our short list should be now Travelers Companies inc. Travelers Companies Inc (NYSE:TRV) has a 3.9% market share with direct premiums written of $24.875 billion. Travelers Companies Inc (NYSE:TRV)’s direct loss to EP ratio was 56.64 which was the lowest ratio for the P&C insurers on our list. The third insurance company is Allstate Corp. Allstate Corp (NYSE:ALL) comes in at number four on our list with $31.5 billion in direct premiums written. Allstate Corp (NYSE:ALL) shares are down around 6% year-to-date.
