20 Largest Private Crop Insurance Companies in United States of America (USA)

 

20 Largest Private Crop Insurance Companies in United States of America (USA)- According to National Association of Insurance Commissioners (NAIC) report entitled with “2024 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide”, there are 20 Largest Private Crops Insurance Companies in United States of America (USA). This rank was arranged based on the Direct Premiums Written and Direct Premiums Earned of insurance companies in 2024.

Private crop insurance is a type of insurance that is offered by insurance companies to protect farmers against financial losses due to crop unpredictable failure or damage. Commonly, this private crop insurance is not subsidized by the federal administration. The insurance companies can decide their program freely. Practically, in the USA, Private crop insurance policies can vary in terms of the coverage, the premiums, and other aspects. However, most private crop insurance policies cover a wide range of perils, including biotic disruption (pest and fungi infestation) and abiotic disruption (drought, flood, storm, frost). Commonly, main types of Private Crop Insurance in the USA are Crop-Hail Insurance (HAL), Supplemental (Add-On) Private Insurance Products, Private Revenue Protection, Named-Peril Policies (Wholly Private), Private Pasture, Rangeland & Forage (PRF) Enhancements, Livestock & Feed-Related Private Policies, Private Multi-Peril Crop Insurance (MPCI-equivalent).

Finally, here is the rank of 20 Largest Private Crop Insurance Companies in the United States of America (USA). This rank was arranged based on the Direct premium Written of insurance companies in 2024. All the data came from the report of National Association of Insurance Commissioners (NAIC) entitled “2024 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide”.

 

The Rank of 20 Largest Private Crop Insurance Companies in United States of America (USA)

 

Rank	Name of Private Crop Insurance Companies in the USA	Direct Premiums Written of 2024	Direct Premiums Earned of 2024	Market Share in the USA
		(in Thousand USD)	(in Thousand USD)	(%)
1	QBE Insurance	284,323	284,553	19.22%
2	Zurich Insurance Group	281,180	281,144	19.01%
3	Chubb Ltd	232,791	233,137	15.74%
4	Farmers Mutual Hail Insurance Group	171,520	171,299	11.60%
5	American Financial Group	169,596	169,510	11.47%
6	Sompo Insurance	169,437	169,693	11.46%
7	American International Group (AIG)	45,118	45,118	3.05%
8	Tokio Marine Holdings	42,012	42,150	2.84%
9	Country Financial	23,524	23,524	1.59%
10	Fairfax Financial	21,128	21,128	1.43%
11	Iowa Farm Bureau Group	13,941	13,941	0.94%
12	Palomar Holdings	7,617	7,364	0.52%
13	Axa Insurance	5,189	5,189	0.35%
14	American Agricultural Insurance Company	4,360	4,360	0.29%
15	Nodak Insurance Company	2,786	2,786	0.19%
16	State Farm Insurance	2,591	3,741	0.18%
17	OBS Holdings Group	1,986	1,986	0.13%
18	North Carolina Farm Bureau Insurance	1,054	1,054	0.07%
19	Core Specialty Insurance	1,045	829	0.07%
20	Conifer Holdings	73	251	0.00%
Private Crop Insurance Industry Total in the USA's market		1,479,000	1,484,486	100.00%

 

 

Brief Description of 20 Largest Private Crop Insurance Companies in United States of America (USA) of 2024

1. QBE Insurance Group

 

QBE Insurance Group Limited is an insurance company that was founded in January 1886. Operationally, this company has a primary office in Sydney, New South Wales, Australia. Along with business insurance development, QBE has more than 13 thousand employees as of 2024 and has presented in 26 countries. In terms of financial aspects, in 2024, based on the balance sheet condition, QBE Insurance has total assets around USD 43.8 billion and total liabilities around USD 33.1 billion. Related to business performance in 2024, QBE Insurance successfully generated insurance revenue around USD 21.7 billion with net income around USD 1.7 billion. Specifically, In the private crop insurance industry at USA’s market, QBE Insurance successfully gained Direct Premiums Written around USD 284,323 thousand with Direct Premiums Earned of around USD 284,553 thousand. In the USA’s market of private crop insurance, QBE has a market share of 19.22%.

The Official Media of QBE Insurance

Official Website: https://www.qbe.com/

YouTube: https://www.youtube.com/@qbeinsurance

LinkedIn: https://www.linkedin.com/company/qbe/

 

2. Zurich Insurance

 

As one of the biggest insurance companies in Switzerland and World, Zurich has a long journey of more than 150 years to achieve this result. Operationally, Zurich Insurance Group Ltd has a primary office in Zürich. Historically, this company was founded in 1872 with the name of Versicherungs-Verein (insurance associations). As of 2024, Zurich Insurance has existed in more than 200 countries and territories and has employed about 63,000 people serving more than 75 million people worldwide.

 

Financially, in 2024, along with business development, the assets of Zurich insurance reached USD 358 billion with total liabilities reaching USD 331 billion. Furthermore, the revenue of the company reached USD 59.5 billion with net income of USD 6.2 billion. In private crop industries Zurich Insurance successfully collected direct Premium Written USD 281,180 thousand with Direct Premium Earned USD 281,144 thousand. In the USA’s private crops insurance market, Zurich Insurance has a market share of 19.01% in 2024.

Official Zurich Insurance Group Media:

Official website: https://www.zurich.com/  

LinkedIn: https://www.linkedin.com/company/zurich-insurance-company-ltd/   

YouTube: https://www.youtube.com/zurichglobal   

 

3.Chubb Ltd Grp            

 

Chubb is one of the world’s private crop insurance companies in the U.S.A. Operationally, Chubb has executive offices in Zurich, New York, London, Paris, and other locations, and employs approximately 40,000 people worldwide with operations in 54 countries and territories. In terms of the financial ratings, Chubb has financial ratings of AA from Standard & Poor’s and A++ from A.M. Best.

Financially in 2024, according to Chubb’s annual report, Chubb Limited has total assets of around USD 246 billion with total liabilities of around USD 178 billion. Related to business performance in 2024, Chubb Limited successfully generated total revenue of around USD 55.7 billion and net income of around USD 9.6 billion. Furthermore, in the private crop insurance industry, in the report of National Association of Insurance Commissioners (NAIC) of 2024, Chubb gained direct premiums written around USD 232,791 thousand with direct premiums earned around USD 233,137 thousand. In the USA of private crop insurance, Chubb has market share around 15.74%.

Official Chubb Ltd Group Media:

Official website: https://www.chubb.com/  

LinkedIn: https://www.linkedin.com/company/chubb/   

YouTube: https://www.youtube.com/@ChubbInsurance

 

4. Farmers Mutual Hail Insurance

 

Farmer Mutual Hail Insurance is America’s Crop Insurance Company which was founded 1893 by W.A. Rutledge. Operationally, Farmer Mutual Hail has a primary office in Westown Parkway, West Des Moines, Iowa. Financially, in the year of 2024, Farmers Mutual Hail has Total Admitted Assets of around USD 1.16 Billion and Total Liabilities reaching USD 687 Million. Specifically in 2024 at the USA’s market private crop insurance industry, Farmers mutual Hail has collected Direct Premiums Written of USD 171,520 thousand with Direct Premiums Earned around USD 171,299. Overall, in the private crop industry at USA’s market, Farmer Mutual Hail gained market share of 11.60%.

The Official Media of Farmers Mutual Hail Insurance Group

Official Website:  https://www.fmh.com/

YouTube: https://www.youtube.com/@FmhInsurance

LinkedIn: https://www.linkedin.com/company/farmers-mutual-hail-insurance/

 

5.American Financial Group      

American Financial Group is an insurance and financial company which was founded in 1872. Operationally, along with business development, American Financial Group has more than 7,500 employees in 120 locations worldwide. Financially, according to American Financial Group’s Annual Report of 2024, American Financial Group has total assets of around USD 30.8 billion with Shareholders’ equity reaching USD 4.4 billion. In terms of business performance in 2023, American Financial Group successfully gained total revenue of around USD 8.3 billion with net income of around USD 0.88 billion. Specifically, in the USA’s private crop insurance industry, American Financial Group successfully gained direct premiums written around USD 169,596 thousand with direct premiums earned around USD 169,510 thousand US Dollar. Overall, in the USA’s private crop insurance industry, American Financial Group has a market share of 11.47%.

The Official Media of American Financial Group

Official Website: https://www.greatamericaninsurancegroup.com/

YouTube: https://www.youtube.com/@GAIGroup

LinkedIn: https://www.linkedin.com/company/great-american-insurance/

 

6. Sompo Group

 

SOMPO Holdings, Inc. is a Japanese insurance company that has a primary office in Shinjuku, Tokyo, Japan. Historically, this company was founded on April 1st, 2001. Financially, in 2024, according to its balance sheet, Sompo Holdings has assets around JPY 15 trillion with total liabilities of around JPY 12.1 trillion. In terms of business performance, Sompo Holdings can generate revenue approximately JPY 5.4 trillion and net income approximately JPY 442 billion. Specifically, in the USA’s private crop industry in 2024, Sompo Group successfully collected direct premiums written around USD 169,437 thousand with direct premiums earned of USD 169,693 thousand. Overall, in the USA’s private crop insurance industry, Sompo Group has a market share of around 11.46%.

The Official Media of Sompo Insurance

Official Website: https://www.sompo-intl.com/

YouTube: https://www.youtube.com/@SompoOfficial

LinkedIn: https://www.linkedin.com/company/sompo-/

 

7.American International Group             

 

American International Group, Inc., also known as AIG, is an American multinational insurance corporation. Historically, it was founded by Cornelius Vander Starr on December 19, 1919. Along with business development, In the labor force aspects, AIG had approximately 22,200 employees in approximately 46 countries as of December 2024. Financially in 2024, AIG International has total assets around USD 161 billion with total liabilities around USD 118 billion. Based on the business performance in 2024, AIG International successfully earned total revenue around USD 27.2 billion but unfortunately suffered net loss around USD - 0.92 billion.

In the USA’s private crop insurance industry, according to the report of National Association of Insurance Commissioners (NAIC), the American International Group (AIG) gained a direct premium written around USD 45,118 thousand with direct premium earned around USD 45,118 thousand. Overall, in the USA’s private crop insurance industry of 2024, American International Group has a market share of 3.05%.

The Official Media of American International Group (AIG)

Official Website: https://www.aig.com/home

YouTube: https://www.youtube.com/@AIGInsurance

LinkedIn: https://www.linkedin.com/company/aig/

 

8.Tokio Marine Holdings Inc      

 

Tokio Marine Holdings, Inc. is a multinational insurance holding company that has a central office in Tokyo. Historically, this company was founded in 1879 with the name of Tokio Marine Insurance. Along with business development of the company, Tokio Marine has 41 thousand employees across the nations. Financially, in 2024, based on the balance sheet of 2024, Tokio Marine has total assets around JPY 31.2 trillion with net assets around 5.1 trillion. Financially, based on the business performance of 2024, Tokio Marine Holdings successfully generated net income around JPY 1 trillion.

 

Specifically, in the USA’s private crop insurance industry, according to the report of National Association of Insurance Commissioners (NAIC), Tokio Marine Holdings gained direct premiums written around USD 42,012 thousand with direct premiums earned around USD 42,150 thousand. Overall, in the USA’s private crop insurance of 2024, Tokio Marine Holdings has a market share of 2.84%.

The Official Media of Tokio Marine Holdings

Official Website: https://tmamerica.com/

YouTube: https://www.youtube.com/@tokiomarineamerica9789

LinkedIn: https://www.linkedin.com/company/tokio-marine-holdings/

 

9. Country financial

Country finance was founded in 1925 by a group of farmers. Along with business development, Country Financial now has more than 3,000 employees and 2,000 representatives. In the year of 2024, specifically in the USA’s private crops insurance industry, Country Insurance successfully gained direct premiums written at USD 23,524 thousand with direct premiums earned around USD 23,524 thousand US Dollar. In 2024, Country insurance had a market share of 1.59%.

The Official Media of Country Financial

Official Website: https://www.countryfinancial.com/

YouTube: https://www.youtube.com/@COUNTRYFinancial

LinkedIn: https://www.linkedin.com/company/countryfinancial/

 

10. Fairfax Financial        

 

Fairfax is a financial and insurance company which was founded in 1985 by Prem Watsa. Operationally, Fairfax has a primary office in Toronto, Ontario, Canada. Financially, in 2024, Fairfax Financial has total assets around USD 96 billion with total liabilities of around USD 68.4 billion. Furthermore, in the USA’s private crop insurance industry, according to the NAIC report of 2024, Fairfax Financial has a direct premium written USD 21,128 thousand US Dollar with direct premium earned USD 21,128 thousand. Furthermore, Fairfax Financial has a market share of 1.43%.

The Official Media of Fairfax Financial

Official Website: https://www.fairfax.ca/

YouTube: https://www.linkedin.com/company/fairfax-financial-holdings-limited/

 

11.Iowa Farm Bureau Group     

 

The Iowa Farm Bureau Group started the activity in 1918. Specifically, in USA’s private crop insurance industry of 2024, according to the NAIC report, Iowa Farm Bureau gained direct premiums written of USD 13,941 thousand with direct premiums earned USD 13,941 thousand US Dollar. Overall, Iowa Farm Bureau Group has a market share of 0.94% in 2024.

The Official Media of Iowa Farm Bureau Group

Official Website: https://www.iowafarmbureau.com/

YouTube: https://www.youtube.com/@IowaFarmBureau

LinkedIn: https://www.linkedin.com/company/iowafarmbureau/

 

12. Palomar Holdings

Founded in 2014, Palomar Holdings is specialty insurance company that provides property and casualty insurance products to individuals and businesses focusing on five product lines including Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Along with business development in 2024, Palomar Holdings has total assets of around USD 2.26 billion with total liabilities of around USD 1.5 billion. In terms of business performance, Palomar Holdings successfully generated total revenue of around USD 553 billion with net income of around USD 117 million. Specifically, in the USA’s private crop insurance industry, Palomar Holdings collected Direct Premiums Written of around USD 7,617 thousand      with Direct Premiums Earned of around USD 7,364 thousand. Overall, in 2024, Palomar Holdings has a total market share of around 0.52%.

 

The Official Media of Palomar Holdings 

Official Website: https://plmr.com/

LinkedIn: https://www.linkedin.com/company/plmrinsurance/

 

13. AXA Insurance Group            

AXA insurance is a French insurance company which was founded in 1816 by Claude Bébéar. Operationally, Axa still has a central office in Paris, France. Along with business development, Axa has grown in over 50 countries with a total of 154,000 employees and serving around 95 million clients across the nations. Specifically, Axa has three major business lines, namely property-casualty insurance, life & savings insurance, and asset management.

 

In 2024, financially, based on its published annual report, the Axa S.A. has total assets around EUR 654 billion or equivalent to USD 725 billion and total liabilities around EUR 592 billion or equivalent to USD 615 billion. Based on the business performance in 2024, the company gained total revenue of EUR 87.3 billion or equivalent to USD 97 billion and net income around EUR 8 billion or equivalent to USD 8.8 billion. In the private crop insurance industry, financially, in 2024, AXA collected a direct premium written of 5,189 thousand US Dollar with a direct premium earned of 5,189 thousand US Dollar. Overall, in the crop insurance industry, Axa has a market share of 0.35%.

 Official Website: https://www.axa.com/

YouTube: https://www.youtube.com/@axa

LinkedIn: https://www.linkedin.com/company/axa-us/

14. American Agricultural Insurance Company

 

Founded on 1948 and Headquarters in Schaumburg, Illinois, American Agricultural Insurance Company, known as AmericanAg has become global reinsurance company. Structurally, AmericanAg is owned by the American Farm Bureau Federation and various state Farm Bureau insurance companies. Furthermore, as of late November 2025, A.M. Best holds American Agricultural Insurance Company’s Financial Strength Rating at A- (Excellent).

In the private crop insurance industry at USA’s market, American Agricultural Insurance Company collected Direct Premiums Written of around USD 4,360 thousand with Direct Premiums Earned of around USD 4,360 thousand. Overall, in 2024, American Agricultural Insurance Company has Market share 0.29%.

The Official Media of American Agricultural Insurance Company

Official Website: https://www.aaic.com

LinkedIn: https://www.linkedin.com/company/american-agricultural-insurance-company/

 

15.Nodak Mutual Group         

   

Nodak Insurance Company is an insurance company which was founded in 1946. Operationally, this company has a primary office in Fargo, North Dakota. Commonly, Nodak Insurance Company has developed into a regional insurance company which has a close connection to the agricultural community. Financially, in the USA’s private crop insurance industry of 2024, according to the NAIC report, Nodak Mutual Group has collected a direct premium written of USD 2,786 thousand with direct premium earned of USD 2,786 thousand. Overall, Nodak Mutual has a market share of 0.19%.

The Official Media of Nodak Insurance Company

Official Website: https://www.nodakins.com

YouTube: https://www.youtube.com/@nodakinsurancecompany4493

LinkedIn: https://www.linkedin.com/company/nodakinsurancecompany/

 

16.State Farm Insurance     

       

State Farm Insurance is one of the largest Property and casualty (P&C) insurance companies based in Bloomington, Illinois, USA. Historically, George J. Mecherle built this corporation in June 1922. As of December 2023, total employees of State farm reached 65,000. As one of the largest property, casualty, and auto insurance providers in the United States in the year of 2024.

In the financial aspects of the year 2024, according to its annual report, State Farm as insurance company has total assets of around USD 239 billion in the year 2024. In terms of business performance in 2024, State Farm successfully gained total revenue of around USD 69 billion and net income of around USD 4.86 billion. Specifically, in the private crop insurance industry in the USA, based on the Report of National Association of Insurance Commissioners (NAIC) in 2024, the State Farm Insurance gained direct premium written around USD 2,591 thousand and direct premium earned around USD 3,741 thousand. Overall, State Farm has a market share of 0.18% in the USA’s Private Crops insurance industry.

Official State Farm Media:

State Farm Insurance Official Website: https://www.statefarm.com/

YouTube: https://www.youtube.com/@statefarm

LinkedIn: https://www.linkedin.com/company/state_farm/

 

17. OBS Holdings Group    

Obsidian’s Insurance Holdings is a U.S. based insurance holding company focusing on facilitating and supporting specialty insurance programs underwritten by Managing General Agents, Managing General Underwriters, and program managers. Formed in 2020 in partnership with Genstar Capital, Obsidian’s two admitted carriers and surplus lines carrier are rated “A-” excellent by A. M. Best. In the USA’s private crop insurance industry, Obsidian gained direct premiums written of around USD 1,986 thousand and direct premiums earned of around USD 1,986 thousand with total market share around 0.13% in the USA’s private insurance industry.

 

18. North Carolina Farm Bureau Insurance         

North Carolina Farm Bureau (NCFB) membership-based Insurance company headquartered in Glenwood Ave, Raleigh. In terms of Financial Strength & Stability, North Carolina Farm Bureau (NCFB) holds AM Best Rating: A (Excellent). In the private crop insurance industry, based on NAIC’s data in 2024, North Carolina Farm Bureau (NCFB) collected direct premiums written of around USD 1,054 thousand with direct premiums earned of around USD 1,054 thousand with total market share of around 0.07% in the USA’s market.

The Official Media of North Carolina Farm Bureau Insurance

Official Website: https://www.ncfbins.com/

LinkedIn: https://www.linkedin.com/company/nc-farm-bureau-insurance/

 

19. Core Specialty Insurance

Core Specialty Insurance is a developing property and casualty (P&C) insurance holding company which has Headquarters in Cincinnati, Ohio. It operates through a Business Unit model. This means they have distinct divisions (e.g., Commercial Auto, Excess Casualty, Healthcare, Marine & Energy, Agriculture, Bond & Surety) that operate almost like mini companies. Financially, Core Specialty Insurance holds an AM Best Rating of A (Excellent). In the private crop insurance industry, Core Specialty Insurance collected direct premiums written of around USD 1,045 thousand with Direct Premiums Earned of around USD 829 thousand with total market share of around 0.07%.

The Official Media of Core Specialty Insurance

Official Website: https://corespecialty.com/

LinkedIn: https://www.linkedin.com/company/core-specialty-insurance-holdings-inc/

 

20. Conifer Holdings          

Conifer was a specialty insurer focused on niche commercial businesses and In September 2025, the company officially changed its name to Presurance Holdings, Inc. In the year of 2024 at USA’s private crop insurance industry, Conifer collected direct premiums written of around USD 73 thousand and Direct Premiums Earned of around USD 251 thousand.

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The Summary of 20 Largest Private Crops Insurance Companies in The United States of America (USA) Based on Direct Premiums Written in 2024

 

 

 

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The Summary of 20 Largest Private Crops Insurance Companies in The United States of America (USA) Based on Direct Premiums Earned in 2024

 

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Bibliography of 2 Largest Private Crops Insurance Companies in United States of America (USA)

 

NAIC. 2025.  2024 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide. Accessed via https://content.naic.org/sites/default/files/research-actuarial-property-casualty-market-share.pdf  on September 14th, 2025.

Zurich Insurance. 2025. About Us. Accessed via https://www.zurich.com/en/about-us   on September 17th, 2025.

Qbe Insurance Group. 2025. Accessed via https://www.qbe.com/au   on September 17th, 2025.

Sompo Group. 2025. Accessed via https://www.sompo-intl.com/   on September 17th, 2025.

Chubb Ltd. 2025. Accessed via www.chubb.com/  on September 17th, 2025.

Farmers Mutual Hail. 2025. About Us. Accessed via https://www.fmh.com/about/about-us    on September 17th, 2025.

American Financial Group. 2025. About Us. Accessed via https://www.afginc.com/about-us/company-overview   on September 17th, 2025.

American International Group. 2025. About Us. Accessed via https://www.aig.com/home/about   on September 17th, 2025.

Tokio Marine Holdings Inc Group. 2025. About Us. Accessed via www.tokiomarine.com/  on September 17th, 2025.

Fairfax Financial. 2025. About Fairfax Financial. Accessed via https://www.fairfax.ca  on September 17th, 2025.

Country Financial. 2025. Accessed via https://www.countryfinancial.com/   on September 17th, 2025.

Iowa Farm Bureau Group. 2025. About Us. Accessed via https://www.iowafarmbureau.com/about   on September 17th, 2025.

Nodak Insurance Group. 2025. Accessed via https://www.nodakins.com on September 17th, 2025.

State Farm Insurance. 2025. Accessed via  https://www.statefarm.com   on September 17th, 2025.

AXA Insurance. 2025. Accessed via https://www.axa.com  on September 17th, 2025.