60 Largest Private Flood Insurance Companies in The United States of America (USA)

 

60 Largest Private Flood Insurance Companies in The United States of America (USA)- According to the published report of National Association of Insurance Commissioners (NAIC) in 2024 entitled with "2023 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide", there are 60 Largest Private Flood Insurance Companies in The United States of America (USA). This rank was arranged based on the Direct premium Written of insurance companies in 2023.

Private flood insurance is basically an insurance product that covers and protects the insurance customers from unpredictable natural flood disasters. The private flood insurance was the private insurance product that is not subsidized by the federal government. Unlike the National Flood Insurance Program (NFIP) which is a government-backed program managed by the Federal Emergency Management Agency (FEMA), private flood insurance is provided by private insurance companies, and these companies operate independently and offer alternative, diverse, or supplemental coverage flood insurance options to the National Flood Insurance Program (NFIP). Furthermore, with these insurance products, it can offer more flexibility and broader coverage options than standard FEMA/NFIP policies.

Basically, these companies are insurance and financial companies that provide the private flood insurance products to their customers in the United States of America (USA). Maybe some people in the United States of America (USA) knew these insurance companies.  Here is the rank of 60 Largest Private Flood Insurance Companies in The United States of America (USA). All of the data came from the report of National Association of Insurance Commissioners (NAIC) entitled "2023 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide".

 

The Rank of 60 Largest Private Flood Insurance Companies in The United States of America (USA)

 

Rank	Name of Private Flood Insurance Companies	Premiums Written in 2023	Premiums Earned in 2023	Market Share
		(in Thousand USD)	(in Thousand USD)	(%)
1	Berkshire Hathaway Group	183,867	157,811	12.84%
2	Zurich Insurance Group	169,682	164,778	11.85%
3	Axa Insurance Group	144,531	130,327	10.09%
4	Assurant Inc Group	123,971	126,904	8.66%
5	American International Group (AIG)	119,949	151,360	8.38%
6	Liberty Mut Group	87,816	79,829	6.13%
7	Swiss Re Group	87,706	86,084	6.13%
8	MS & AD Insurance Group	76,243	56,583	5.33%
9	Sompo Group	64,685	67,935	4.52%
10	Allstate Insurance Group	54,988	50,733	3.84%
11	Arch Insurance Group	53,272	47,581	3.72%
12	Chubb Ltd Group	47,819	48,147	3.34%
13	Allianz Insurance Group	40,644	39,836	2.84%
14	Palomar Holdings Group	20,058	17,605	1.40%
15	Trisura Group	16,187	26,494	1.13%
16	Mapfre Insurance Group	14,089	14,355	0.98%
17	Munich Re Group	10,455	9,933	0.73%
18	Incline Insurance Group Llc Group	9,784	9,043	0.68%
19	American European Group	8,053	4,818	0.56%
20	Progressive Group	7,629	8,475	0.53%
21	Cincinnati Financial Group	7,559	7,038	0.53%
22	Wr Berkley Corp Group	7,521	7,777	0.53%
23	Nationwide Corp Group	6,268	6,706	0.44%
24	Usic Group	6,118	6,259	0.43%
25	Tokio Marine Holdings Inc Group	5,410	5,845	0.38%
26	Core Specialty Insurance Holdings Group	5,294	4,725	0.37%
27	Fairfax Financial Group	4,866	4,398	0.34%
28	Skyward Specialty Ins Group Inc Group	4,497	3,552	0.31%
29	Rli Insurance Group	4,465	4,048	0.31%
30	American Integrity Insurance Company	3,990	3,800	0.28%
31	ICW Group Assets Inc	3725	3027	0.26%
32	Wright National Flood Ins Co	3153	3029	0.22%
33	Auto Owners Group	2030	949	14.00%
34	Ocean Harbor Group	1835	1512	13.00%
35	The Hanover Insurance Group	1782	1831	12.00%
36	Sentry Insurance Group	1745	1555	12.00%
37	Apollo Global Management Group	1739	1271	12.00%
38	Sutton National Insurance Holdings Group	1512	484	11.00%
39	Florida Peninsula Holdings Group	1404	1608	10.00%
40	Scor Group	1374	2321	10.00%
41	Cabrillo Holding Group	1251	986	0.09%
42	Heritage Insurance Holdings Group	1246	1277	0.09%
43	Emic Insurance Co Group	1237	1196	0.09%
44	Tower Hill Insurance Group	1217	1278	0.09%
45	Qbe Insurance Group	1135	806	0.08%
46	Cna Insurance Group	1097	1088	0.08%
47	Southern Oak Ins Co	970	980	0.07%
48	Acp Insurance Mgmt Llc Group	932	714	0.07%
49	American Risk Ins Co Inc	644	517	0.04%
50	The Woodlands Ins Co	564	653	0.04%
51	Trustage Group	520	498	0.04%
52	Brookfield Reins Ltd Group	489	505	0.03%
53	Universal Insurance Co Group	457	540	0.03%
54	Security First Insurance Co	432	673	0.03%
55	Guideone Insurance Group	332	350	0.02%
56	Shi Holdings Group	306	240	0.02%
57	Mennonite Mutual Group	272	255	0.02%
58	Homeowners Of Amer Insurance Co	261	291	0.02%
59	Rockingham Group	260	256	0.02%
60	Safepoint Holdings Inc Group	230	214	0.02%
Source: National Association of Insurance Commissioners (NAIC), 2024

 

 

Brief Description of 20 Largest Private Flood Insurance Companies in The United States of America (USA)

 

1. Berkshire Hathaway 

Founded in 1839 in Cumberland, Rhode Island by Oliver Chace and built by Warren E. Buffet, The Berkshire Hathaway has completely grown into large holding companies with diversified investment portfolios from miscellaneous sectors including insurance sector. Commonly, in insurance industries, the insurance companies that owned by Berkshire Hathaway, namely Government Employees Insurance Company (GEICO), General Re, Berkshire Hathaway Homestate Companies, Berkshire Hathaway Specialty (BHSI), Berkshire Hathaway GUARD Insurance Companies, MLMIC Insurance Companies, National Indemnity Primary Group, United States Liability Insurance Companies, Central States Indemnity. Financially, according to Berkshire Hathaway Annual Report of 2024, Berkshire Hathaway has total assets of USD 1,153 billion with total liabilities USD 502 billion. Furthermore, in terms of business performance of 2024, Berkshire Hathaway successfully gained total revenue of USD 371 billion with net income of USD 89.5 billion from all of its diverse businesses.

In the private flood insurance industry, along with business development, according to the NAIC report, in 2024, Berkshire Hathaway successfully collected a direct premium written of USD 183,867 thousand with a direct premium earned of USD 157,811 thousand. Overall, in the private flood insurance industry, Berkshire Hathaway has a market share of 12.84 %.

 

2. Zurich Insurance       

As one of the biggest insurance companies in Switzerland, Zurich has a long journey of more than 150 years to achieve incredible performance in the insurance industry. 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 2023, Zurich is one of the leading insurers serving people and businesses located in more than 200 countries which has employed about 60,000 people. 

Financially, according to the financial conditions on the balance sheet in 2023, Zurich Insurance has total assets around USD 361 billion with total liabilities around USD 335 billion. In terms of the business performance in 2023, Zurich Insurance successfully gained revenue of USD 56 billion and net income around USD 4.7 billion. In private flood industries, Zurich Insurance successfully gained the premium written USD 169,682 thousand with premium earned USD 169,682 thousand. Specifically, in the private flood insurance industry in the USA, Zurich Insurance has a market share of 11.85% in 2023.

 

3. Axa Insurance            

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. In terms of business development, Axa has existed in over 51 countries with a total of 147,000 employees and serving around 94 million of its customers. In the year of 2023, financially, based on its published Axa’s annual report, the Axa Group has total assets around EUR 644 billion/ USD 669 billion and total liabilities around EUR 592 billion/ USD 615 billion. Based on the business performance in 2023, the company gained total revenue of or equivalent to and net income around EUR 7.3 billion or equivalent to USD 7.5 billion. In the private flood insurance industry, financially, in 2023, AXA collected a direct premium written of USD 144,531 thousand with direct premium earned of USD 130,327 thousand. Overall, in the private flood insurance industry, AXA has a market share of 10.09 %.

 

4. Assurant Inc               

Assurant is an insurance company which was founded in 1892 and has a main office in Atlanta. Along with business development until 2023, this Assurant Inc has more than 13,600 employees around the world and served more than 300 million of its customers. Furthermore, in the year of 2024, Assurant has total assets of USD 35 billion with total liabilities of USD 29 billion. In terms of business performance, Assurant Inc successfully gained total revenue of USD 11.8 billion with net income of USD 0.76 billion. In private flood industries, Assurant Insurance successfully gained the direct Premium Written USD 123,971 thousand with Direct Premium Earned USD 126,904 thousand. In the US, Assurant Inc has a market share of 8.66 % in 2023.

 

5. 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, AIG has a presence in 190 countries which has total employees of 25,200 people. In 2023, according to the financial position on the balance sheet in the AIG's annual report of 2023, the AIG has total assets around USD 539 billion with total liabilities around USD 488 billion. Based on the business performance in 2023, the company successfully gained total revenue around USD 46.8 billion with net income around USD 3.8 billion. According to the report of National Association of Insurance Commissioners (NAIC), in the private flood insurance industry, the American International Group (AIG) gained a direct premium written around USD 119,949 thousand with direct premium earned around USD 151,360 thousand. Overall, in 2023, American International Group (AIG) has a market share of 8.38 %.

 

6. Liberty Mutual           

Liberty Mutual Insurance is an insurance company headquartered in Berkeley Street, Boston, Massachusetts. Historically, the establishment of this company was on July 1, 1912. In terms of business developments, Liberty Mutual Insurance company has employed over 40,000 people in 29 countries across the continent. Based on its operational business products, Liberty Mutual Insurance operates three business units namely, Personal Insurance Lines, Commercial Insurance Lines, and Liberty Mutual Investments (LMI). Financially, in 2023 according to its annual report, The Liberty Mutual has total assets valued at USD 165 billion and total liabilities standing at USD 140 billion. In terms of business performance, The Liberty Mutual reported gaining total revenue of USD 49.4 billion with a net income of USD 0.22 billion. In the private flood industry of 2023, liberty mutual gained direct premiums written of USD 87,816 thousand with direct premiums earned of USD 79,829 thousand. Based on its business position in the commercial auto insurance industry, Liberty Mutual got a market share of 6.13 %. 

 

7. Swiss Re        

Swiss Reinsurance Company Ltd known as Swiss Re is the insurance company that has a main office in Zurich, Switzerland. Historically, this company was founded on December 19th, 1863. Along with business development of the company, Swiss Re has employed around 14,400 people and branches offices in 70 worldwide. Financially, in the year of 2024, according to the annual report of 2024, Swiss Re has total assets of USD 127 billion with total liabilities of USD 103 billion. In terms of business performance in 2024, Swiss Re successfully gained insurance revenue reaching USD 45.5 billion with Net Income USD 3.2 billion. According to the NAIC report, in 2023, Swiss Re successfully collected a direct premium written of USD 87,706 thousand with a direct premium earned of USD 86,084 thousand. Overall, in the crop insurance industry, Swiss Re has a market share of 6.13 %.

8. MS & AD Insurance Group

MS&AD Insurance Group Holdings, Inc. is the insurance holding company formed in April 2010 through the merger of Aioi Insurance Co., Ltd., Nissay Dowa General Insurance Co., Ltd., and Mitsui Sumitomo Insurance Group which has headquarters in Tokyo, Japan. As of 2024, MS&AD holdings have total employees reaching 450 people. Financially, according to the annual report in 2023, MS&AD Insurance Group Holdings has total assets of Japanese Yen (JPY) 26.9 trillion with total liabilities of Japanese Yen (JPY) 22.4 trillion. In terms of business performance, MS&AD Insurance Group Holdings has gained net income of JPY 369 billion.  Furthermore, according to NAIC’s report in 2024, MS&AD Insurance Group successfully collected premium written of USD 76,243 thousand with premium earned of USD 56,583 thousand in the private flood insurance industry. In addition, in private flood insurance, MS&AD Insurance Group has a market share of 5.33 %.

9. 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 2023, according to its balance sheet, Financially, according to its annual Report on 2023, Sompo Holdings has total assets of JPY 14.4 trillion. In the private flood industry, Sompo Group has direct premiums written around USD 64,685 thousand with Direct Premium Earning USD 67,935 thousand. Financially, Sompo Group has a market share around 4.52 %.

10. Allstate Insurance   

Allstate was formed on April 17, 1931. Operationally, in its business, this company has some products in insurance industries. Officially, this company still has a main office in Northbrook, Illinois, U.S. As of 2023, The Allstate Corporation has 53,400 employees, 9,100 exclusive agents and agent support staff, 20,200 licensed sales professionals and 50,900 independent agents.

Financially, in 2023, according to its balance sheet and income statements,  total assets of All State reached USD 103 billion, while total liabilities achieved USD 85 billion. In terms of business performance, All State successfully gained total revenue of USD 57.9 billion but unfortunately suffered a net loss of USD 0.21 billion. Based on its position as insurance company in private flood industries, Allstate successfully collected premiums written USD 54,988 thousand with direct premiums earned of USD 50,733 thousand. In private flooding insurance, Allstate has a market share of 3.84 %. 

11. Arch Insurance        

Arch Insurance Group Inc., a division of Arch Capital Group Ltd. (ACGL), which has some products in insurance. Founded in 2022, this company still has a main office in Jersey City, New Jersey.  Financially, in 2024, according to its balance sheet and income statements, total assets of Arch Insurance reached USD 70.9 billion, while total liabilities achieved USD 50 billion. In terms of business performance, All State successfully gained total revenue of USD 17.4 billion and reaping a net income of USD 4.3 billion. According to NAIC, Arch Insurance got direct premiums written at USD 53,272 thousand with direct premiums earned of USD 47,581 thousand. In private flood, Arch Insurance has a market share of 3.72 %. 

12. Chubb Ltd  

Chubb is one of the world’s Property and Casualty (P&C) 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. In the financial ratings, Chubb has financial ratings of AA from Standard & Poor’s and A++ from A.M. Best. Financially, in 2024, according to its Annual Report (SEC-Filing 10K), total assets of Chubb reached USD 246 billion, while total liabilities reached USD 178 billion. In terms of business performance, Chubb successfully gained total revenue of USD 55.7 billion and reaping a net income of USD 9.6 billion.

Specifically, in the private flood insurance industry, according to the report of National Association of Insurance Commissioners (NAIC), Chubb gained a premium written around USD 47,818 with premium earned around USD 48,147 thousand. In the USA of private flood insurance, Chubb has market share around   3.34 %.

13. Allianz Insurance Group       

Allianz still becomes one of the largest insurance companies in the world. Historically, this company was founded in 1890 by Carl von Thieme and Wilhelm von Finck. Along with business development from time to time, as of 2023, Allianz employed over 157,000 people worldwide and Allianz Group still became one of the world's leading insurers and asset managers with 125 million private and corporate customers in almost 70 countries. Financially, in 2023, the Allianz Insurance company has total assets around EUR 983 billion or equivalent to USD 1,022 billion and Total Liabilities around EUR 919 billion or equivalent to USD 955 billion. Based on the business performance in 2023, the company gained total revenue EUR 91.2 billion or equivalent to USD 94.8 billion and net income around net income EUR 9 billion or equivalent to USD 9.36 billion. According to the report of National Association of Insurance Commissioners (NAIC), Allianz gained a premium written around USD 40,644 thousand with direct premium earned around USD 39,836 thousand in the private flood insurance sector.

14.  Palomar Holdings Group

Palomar Holdings is an insurance company which was founded in 2014. Financially, in 2024, Palomar Holdings has total assets of USD 2.2 billion with total liabilities of USD 1.5 billion. In terms of business performance, Palomar Holdings gained total revenue of USD 553 million and net income of USD 117 million. In the flood insurance industry, according to the report of National Association of Insurance Commissioners (NAIC), Allianz gained a premium written around USD 20,058 thousand with direct premium earned around USD 17,605 thousand in the private flood insurance sector. Furthermore, Palomar holdings have a market share of 1.40% in the private flood insurance industry.

15. Trisura Group

Trisura is an insurance company which was founded in 2006. Operationally, this company was founded in Toronto, Ontario, Canada. Financially, in 2024, Trisura Group has total assets of Canadian Dollar (CAD) 4.5 billion with total liabilities of CAD 3.8 billion. In terms of business performance, Palomar Holdings gained net income of CAD 118 million.  Specifically, in the private flood insurance sector, according to the NAIC Report in 2023, Trisura gained a direct premium written around USD 16,187 thousand with direct premium earned around USD 26,494 thousand.  In private floods, Trisura Insurance has a market share of 1.13 %. 

 

16. MAPFRE Insurance

MAPFRE Insurance is an insurance company which is headquartered in Webster, Massachusetts, United States. Historically, this company was founded in 1972. Financially, in 2023, MAPFRE S.A has total assets of EUR 56.7 million with total debts of EUR 4.3 million. In terms of business performance, MAPFRE successfully gained total comprehensive income EUR 1.4 million. Specifically, according to the NAIC Report in 2023 in the private flood insurance, MAPFRE Insurance gained a premium written around USD 14,089 thousand with direct premium earned around USD 14,355 thousand.  In private flood, Mapfre Insurance has a market share of 0.98 %. 

17. Munich Re Group   

Munich RE was founded 3 April 1880 and still has its headquarters in Munich, Germany. Financially, in the year of 2023, Munich RE still has total Assets of EUR 273 billion or equivalent to USD 283 billion with total liabilities of EUR 244 billion or equivalent to USD 253 billion. In terms of business performance, the total revenue of Munich RE reached EUR 57.8 billion or equivalent to USD 60 billion with net income of Net Income of EUR 4.5 billion or equivalent to USD 4.6 billion. Specifically, according to the NAIC Report in 2023 in the private flood insurance, Munich Re Insurance gained a premium written around USD 10,455 thousand with direct premium earned around USD 9,933 thousand.  In the private sector, Munich Re has a market share of 0.98 %. 

18. Incline Insurance Group Llc Group   

Incline Insurance Group has successfully collected Premium Written of USD 9,784 thousand with premium earned USD 9,043 thousand.

19. American European Group 

American European Group (AE) was formed in 1986 as a small group of investors. Operationally, American European has expanded into Pennsylvania, Maryland, Massachusetts, New Hampshire and Rhode Island and now annually writes approximately 25,000 policies and $50 million in written premium and has 300 independent agents.  Specifically, according to the NAIC Report in 2023 in private flood insurance, American European Group gained a premium written around USD 8,053 thousand with direct premium earned around USD 4,818 thousand. 

20. Progressive Group  

Progressive is one of the insurance companies specializing in auto insurance, founded in 1937 by Joseph Lewis and Jack Green. To date, headquartered in Mayfield, Ohio, U.S., Progressive has served more than 37 million customers with employees of 55,100 people.  According to its annual report in 2023, total assets of Progressive stood at USD 88 billion, while total liabilities amounted to USD 68 billion. Furthermore, Progressive generated total revenue of USD 62.1 billion and successfully generated net income of USD 3.9 billion. Specifically, according to the NAIC Report in 2023 in the private flood insurance sector, Progressive Group gained a premium written around USD 7,629 thousand with direct premium earned around USD 8,475 thousand.   

 

 

The Summary of 20 Largest Private Flood Insurance Companies in The United States of America (USA) Based on Premiums Written in 2023

 

The Summary of 20 Largest Private Flood Insurance Companies in The United States of America (USA) Based on Premiums Earned in 2023

 

 

Bibliography of 60 Largest Private Flood Insurance Companies in The United States of America (USA)

 

NAIC. 2024. 2023. Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide. Accessed via  https://content.naic.org/sites/default/files/publication-msr-pb-property-casualty.pdf  on September 14th, 2024.

American International Group. 2023. About Us. Accessed via https://www.aig.com/home/about  on September 18th, 2023.

Zurich Insurance. 2023. About Us. Accessed via https://www.zurich.com/en/about-us   on September 17th, 2023.

Assurant Inc. 2023. Accessed via https://www.assurant.com on September 18th, 2023.  

AXA Insurance. 2023. Accessed via https://www.axa.com  on September 17th, 2023.

Swiss Re. 2023. Annual Report 2024. Accessed via https://www.swissre.com/investors/financial-information.html on September 18th, 2023. 

Sompo Group. 2024. Annual Report (SEC_filling 10K) Accessed via https://www.sompo-hd.com/en/ir/data/annual/   on September 17th, 2025.

Liberty Mutual. 2023. Financial Reports 2015-2022. Accessed via https://www.libertymutualgroup.com/about-lm/investor-relations/overview on July 19th, 2023.

Chubb Ltd. 2023. Accessed via www.chubb.com/  on September 17th, 2023.

Berkshire Hathaway. 2021. Annual Report 2021. Accessed via https://www.berkshirehathaway.com/reports.html  on May 18^th, 2023.

The Allstate Corporation. 2022. Allstate Annual Report. Accessed via https://www.allstatecorporation.com/about/annual-report.aspx on May 8th, 2023.

Arch Insurance. 2023. Accessed via https://insurance.archgroup.com  on September 18th, 2023. 

Transverse Insurance. 2023. Accessed via https://transverseinsurance.com  on September 18th, 2023.

Allianz Insurance Group. 2023. Accessed via https://www.allianz.com/en.html  on September 18th, 2023. 

Trisura Group. 2023. Accessed via https://www.trisura.com/investors/   on September 18th, 2023. 

Mapfre Insurance. 2023. About Us. Accessed via https://www.mapfreinsurance.com/  on September 18th, 2023.

MS&AD Holdings.2025. Annual Report 2024. Accessed via https://www.ms-ad-hd.com/en/ir/financial.html  on March 1st, 2025.

Palomar Holdings. 2025. Annual Report 2024. Accessed via https://ir.palomarspecialty.com/  onMarch 1st, 2025