50 Largest Earthquake Insurance Companies in The United States of America (USA)

 

50 Largest Earthquake Insurance Companies in The United States of America (USA)- According to the published report of National Association of Insurance Commissioners (NAIC) entitled with “2023 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide”, there are 50 Largest Earthquake Insurance Companies in The United States of America (USA). This rank was arranged based on the Direct premium Written of insurance companies in 2023.

Commonly, many people always face unpredictable natural disasters. It can happen to everyone. One of the natural disasters that can make people suffer are earthquakes. With unpredictable natural shaking or tremors, it can destroy or damage the people’s properties or threaten the people’s life. To respond to these conditions, earthquake insurance is some of the alternative products to cover and protect them from unpredictable losses from earthquakes. In the United States of America (USA), there are some earthquake insurance products. Maybe some of the people in the USA knew about this earthquake insurance product.

Here is the rank of   50 Largest Earthquake Insurance Companies in the United States of America (USA). All the data came from the report of the National Association of Insurance Commissioners (NAIC).

 

The Rank of 50 Largest Earthquake Insurance Companies in The United States of America (USA)

 

Rank	Name of Earthquake Insurance Companies in USA	Direct Premiums Written	Direct Premiums Earned	Market Share
		(in Thousand USD)	(in Thousand USD)	(%)
1	FM Global Group	647,123	610,440	12.49
2	Palomar Holdings Group	446,504	398,083	8.62
3	Zurich Insurance Group	384,592	357,549	7.43
4	Berkshire Hathaway Group	364,174	301,562	7.03
5	State Farm Group	333,802	329,845	6.45
6	Travelers Group	240,992	215,917	4.65
7	Chubb Ltd Group	201,665	188,650	3.89
8	Liberty Mutual Group	149,346	141,021	2.88
9	Sompo Group	141,620	146,771	2.73
10	Golden Bear Insurance Co	115,760	101,133	2.24
11	American Intl Group	115,325	112,038	2.23
12	Geovera Holdings Inc Group	113,368	106,423	2.19
13	American Family Insurance Group	106,763	100,283	2.06
14	CNA Insurance Group	101,879	90,218	1.97
15	AXA Insurance Group	96,863	90,807	1.87
16	Swiss Re Group	96,014	90,650	1.85
17	Ru Insurance Group	87,855	73,138	1.7
18	United Serv Automobile Assn Group	83,064	81,356	1.6
19	Everest Reins Holdings Group	80,401	87,884	1.55
20	Arch Insurance Group	79,904	68,760	1.54
21	ICW Group Assets Inc Group	73,662	67,215	1.42
22	Tokio Marine Holdings Inc Group	70,840	69,051	1.37
23	QBE Insurance Group	62,799	-4,789	1.21
24	Axis Capital Group	59,073	48,801	1.14
25	Multinational Group	53,306	41,316	1.03
26	Markel Corp Group	53,156	53,957	1.03
27	MS & AD Insurance Group	50,888	37,806	0.98
28	Mapfre Insurance Group	46,704	42,395	0.9
29	Allianz Insurance Group	45,378	44,481	0.88
30	Cincinnati Fin Group	44,790	42,249	0.86
31	Farmers Insurance Group	42,082	44,160	0.81
32	Core Specialty Insurance Holdings Group	40,571	35,452	0.78
33	Fairfax Fin Group	37,690	33,557	0.73
34	Auto Owners Group	31,881	30,013	0.62
35	Nationwide Corp Group	31,507	33,598	0.61
36	Munich Re Group	30,584	29,156	0.59
37	Shi Holdings Group	26,739	20,969	0.52
38	United Fire & Cas Group	23,430	24,989	0.45
39	Apollo Global Management Group	23,280	18,409	0.45
40	Guideone Insurance Group	23,021	21,753	0.44
41	Westfield Group	22,253	18,774	0.43
42	Kinsale Insurance Co	18,919	12,391	0.37
43	Shelter Insurance Group	16,746	14,559	0.32
44	Hartford Fire & Cas Group	16,426	16,388	0.32
45	Western Service Contract Group	16,088	16,905	0.31
46	Trustage Group	15,018	13,580	0.29
47	The Hanover Insurance Group	13,760	14,004	0.27
48	Ascot Insurance Us Group	13,755	11,786	0.27
49	Usic Group	13,143	10,971	0.25
50	Amica Mutual Group	10,423	10,097	0.2
Source: (National Association of Insurance Commissioners (NAIC), 2024)

 

The Summary of 15 Largest Earthquake Insurance Companies in United States of America (USA) Based on Direct Premium Written in 2023

Brief Description of 25 Largest Earthquake Insurance Companies in United States of America (USA)

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1.FM Global Group           

FM Global is an American financial company based in Johnston, Rhode Island, United States. Historically, FM Global started the business in 1835 and the founder of the company is Zachariah Allen. In the year 2023, In terms of business performance in 2023, FM Global successfully gained total revenue of USD 7.3 billion with net income/ profit of USD 3.7 billion. Furthermore, in the financial position, the total assets of FM Global in 2023 reached USD 26 billion with total liabilities of around USD 12 billion. In the earthquake insurance industries of 2023, FM Global collected a direct premium written of USD 647,123 thousand with direct premium earned of USD 610,440 thousand. Furthermore, in the USA’s earthquake insurance Market, FM Global has a market share of 12.49%.

 

2.Palomar Holdings

Palomar Holding is one of the leading insurance companies in providing insurance coverage for earthquakes, hurricanes, floods, and other perils. Historically, Palomar Holding started the business in 2014. In the year 2024, In terms of business performance in 2024, Palomar Holdings successfully gained net income/ profit of USD 133 million. Furthermore, in the financial position, total assets of Palomar Holdings in 2024 reached USD 2.2 billion with total liabilities of around USD 1.5 billion. Furthermore, in the report of NAIC, Palomar Holdings gained a direct premium written around USD 446,504 thousand with direct premium earned around USD 398,083 thousand. In addition, Palomar Holdings has a market share of around 8.62% of earthquake insurance industries.

 

3.Zurich Insurance

Zurich insurance is one of the largest insurance companies in Switzerland. Basically, the business journey of Zurich has lasted more than 150 years and operationally, Zurich Insurance Group Ltd still has a primary office in Zürich. In the year 2023, Zurich insurance company employs around 56,000 people and offers a wide range of products in over 210 countries. As of the 2023 balance sheet, it has total assets of USD 361 billion and liabilities of USD 335 billion. The company's revenue in 2023 was USD 56 billion, with a net income of USD 4.7 billion. In earthquake industries, Zurich Insurance successfully gained the direct Premium Written USD 384,592 thousand with Direct Premium Earned USD 357,549 thousand. In the USA, Zurich Insurance has a market share of 7.43 %.

 

4.Berkshire Hathaway Group   

Berkshire Hathaway Grp was founded in 1839 in Cumberland, Rhode Island by Oliver Chace. This company achieved the golden era when Warren E. Buffet, with the help of Charlie Munger, managed this company. Commonly, in earthquake insurance industries, according to the NAIC report, in 2023, Berkshire Hathaway successfully collected a direct premium written of 364,174 thousand US Dollar with a direct premium earned of USD 301,562 thousand US Dollar. Overall, in the earthquake insurance industry, Berkshire Hathaway has a market share of 7.03 %.

 

5. State Farm Insurance  

State Farm Insurance is one of the largest insurance companies in the U.S. Historically, this company was founded by George J. Mecherle in June 1922. Operationally, this company has around 57,000 employees. Financially, in the year 2024, Total Assets of State Farm Insurance reached USD 239,889 million in 2024 with a net income of USD 4,861 million. According to the report of The National Association of Insurance Commissioners (NAIC) in 2023, especially in the earthquake insurance industry, State Farm Insurance has collected direct premiums written around USD 333,802 thousand and USD 329,845 thousand of Direct Premiums Earned. Statistically, in the earthquake insurance industry, State Farm Insurance has market share around 6.45% in 2023. 

 

6.Travelers  

Historically, the Travelers insurance company was formed in 2004 by the merger between The St. Paul Companies, Inc., and Travelers. Historically, the founder of Travelers is James G. Batterson meanwhile St. Paul Fire and Marine Insurance Company was founded by Alexander Wilkin and 16 other St. Paul businesspeople. Along with business development, until 2022, Travelers has more than 30,000 employees, 13,500 independent agents and brokers in the United States, Canada, the United Kingdom, and Ireland. Financially, in 2024, According to its annual report in 2024, Travelers insurance has total assets around USD 133,189 million with total liabilities of around USD 105,325. Meanwhile, the revenue of traveler’s insurance was USD 46,423 million with net income of about USD 4,999 million. In the earthquake insurance industry, Travelers has successfully collected Direct Premiums Written around USD 240,992 thousand with Direct Premiums Earned around USD 215,917 thousand. In the earthquake insurance industry, Travelers has a market share around 4.65 %.

 

7.Chubb Group      

Chubb is one of the largest 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. To date, this company has employed approximately 40,000 people worldwide. Financially, according to its annual report in 2024, Chubb has total assets around USD 246,548 million with total Chubb shareholders’ equity of around USD 68.3 billion. Meanwhile, the total revenue of Chubb limited was USD 55.7 billion with a net income of about USD 9.6 billion. In the earthquake insurance industry, according to the report of National Association of Insurance Commissioners (NAIC), Chubb gained a direct premium written around USD 201,665 thousand with direct premium earned around USD 188,650 Thousand. Overall, in terms of the earthquake insurance industry, Chubb has a market share around   3.89%.

 

8.Liberty Mutual Insurance

Liberty Mutual Insurance still became one of the biggest property and casualty (P&C) in the USA. Operationally, the headquarters of Liberty Mutual Insurance located in Berkeley Street, Boston, Massachusetts. Because of its development in insurance, Liberty Mutual Insurance company has employed over 50,000 people in 29 countries. Financially, in 2023 according to its annual report, Liberty Mutual has total assets valued at USD 165 billion and total liabilities standing at USD 140 billion. According to the National Association of Insurance Commissioners (NAIC) in 2023, especially in the earthquake insurance industry, The Liberty Mutual Insurance gained a direct premium written around USD 149,346 thousand with direct premium earned around USD 141,021 thousand.      

 

9.Sompo Group     

Sompo Holdings, Inc. is an insurance company from Japan which was founded in 1887. Financially, in 2023 according to its annual report, The Sompo Holdings has total assets valued at JPY 14.8 trillion and total liabilities standing at JPY 11.9 trillion. In terms of business conditions, Sompo Holdings successfully gained a net income of JPY 418 billion. According to NAIC, Sompo Holding gained a direct premium written around USD 141,620 thousand US Dollar with direct premium earned around USD 146,771. In the earthquake insurance market, Sompo Holdings has a market share of around 2.73%.

 

10.Golden Bear Insurance Company  

Golden Bear Insurance Company was founded in 1978, and the founder of Golden Bear Insurance was Michael J. Hall. According to NAIC market data report, in the earthquake industry, Golden Bear insurance company gained a direct premium written of USD 115,760 thousand with direct premium earned around USD 101,133 thousand. In the USA Market, Golden Bear Insurance has a market share of around 2.24%.

 

11. 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. As of December 2023, AIG employed about 25,200 people in around 50 countries. The company reported total assets of USD 539 billion and total liabilities of USD 488 billion in its 2023 annual report. In 2023, AIG generated USD 46.8 billion in total revenue and USD 3.8 billion in net income. According to the report of National Association of Insurance Commissioners (NAIC), in the earthquake insurance industry, the American International Group (AIG) gained a direct premium written around USD 115,325 thousand with direct premium earned around USD 112,038 thousand. Overall, in 2023, American International Group (AIG) has a market share of 2.23 %.

 

12.Geovera Holdings Inc            

Geovera Insurance Group is headquartered in Fairfield, California and still has a financial rating of “A” (Excellent) by A.M. Best Company. According to a NAIC data report in 2023, Geovera Holdings collected direct premiums written around USD 113,368 thousand with Direct Premium Earning around USD 106,423 thousand. In the USA Market, Geovera Holding has a market share of 2.19%.

13. American Family Insurance Group     

American Family Insurance, also abbreviated as AmFam, is an American insurance company which has a central office in Wisconsin USA. Historically, American Family Insurance was founded in 1927. Financially, in 2024 according to its annual report, The American Family Insurance has total assets valued at USD 42.1 billion and total liabilities standing at USD 31.6 billion. In terms of business condition, American Family Insurance successfully gained total revenue of USD 20 billion with net income of USD 2.4 billion. In the earthquake insurance industry, American Family Insurance has collected direct premiums written around USD 86,437 thousand with direct premiums earned around USD 73,936 thousand. Overall, in the US Market, American Family Insurance has market share around 2.06%.

 

14. CNA Insurance 

CNA is one of the largest commercial property and casualty insurance companies in the USA. With more than 125 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada, and Europe. Historically, CAN was founded in 1897 with its central office in Chicago, Illinois. With more than 125 years of experience, CNA has more than 6,000 employees and has 59 offices in 11 countries. Financially, in 2023, the total net income of CNA reached USD 1.2 billion. In the earthquake insurance industry, CNA collected a direct premium written of USD 74,873 thousand with a direct premium earned of USD 63,826 thousand. Furthermore, in the earthquake insurance industry, CNA has a market share of 1.78 % in the USA market. 

 

15.AXA Insurance Company

AXA is a France-based insurance company that was founded in 1816 by Claude Bébéar. Along with business development, Axa has grown in over 51 countries with a total of 147,000 employees and serving around 94 million clients. Financially, in 2023, based on its published annual report, the company 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 2023, the report of NAIC showed that AXA gained a direct premium written around USD 84,925 thousand US Dollar and a direct premium earned around USD 85,043 thousand. Overall, Axa insurance has a market share of around 2.02% in the earthquake insurance industry.

16. Swiss Re Group 

Swiss Reinsurance Company Ltd known as Swiss Re is the insurance company that has a head 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 15 thousand people. Financially, in 2024 according to its annual report, The Swiss Re has total assets valued at USD 127 billion and total liabilities standing at USD 103 billion. In terms of business condition, Swiss Re successfully gained net income of USD 3.2 billion. According to the NAIC report, in 2023, Swiss Re successfully collected a direct premium written of USD 77,457 thousand with a direct premium earned of USD 76,387 thousand. Overall, in the crop insurance industry, Swiss Re has a market share of 1.85 %.

 

17. Ru Insurance Group

Ru Insurance began its business in 2010 and still has a primary office in New Jersey. According to NAIC Report of 2023, Total direct premium written by Ru Insurance reached USD 87,855 thousand with direct premium earned of USD 73,138 thousand. Overall, RU Insurance has a total market share of 1.7 %.

 

18. United Services Automobile Association (USAA)         

United Services Automobile Association (USAA) is one of the biggest Property and Casualty (P&C) insurance companies in the United States of America (USA). USAA is headquartered in San Antonio, Texas, United States. Until 2022, this company will employ 37,000 people. Financially, in 2023, The United Services Automobile Association (USAA) has total assets amounting to USD 211 billion and total liabilities of USD 182 billion. Meanwhile, the USAA also generated total revenue of USD 42.4 billion and achieved a net income of USD 1.2 billion. Furthermore, in 2023, The USAA gained a direct premium written around USD 79,181 thousand and a direct premium earned around USD 75,747 thousand. Overall, in 2023, USAA has market share around 1.89%.

 

19. Everest Insurance

Everest Insurance is an insurance company which was founded in 1973. Operationally, Everest Insurances has a central office in Hamilton, Bermuda and Serving customers in more than 115 countries across 6 continents. Financially, in 2024, The Everest Insurance Group has total assets amounting to USD 56 billion and total liabilities of USD 42 billion. Meanwhile, Everest Insurance also generated total revenue of USD 17.2 billion and achieved a net income of USD 1.3 billion. According to NAIC market data report, Everest Holdings collected a direct premium written of USD 99,103 thousand with direct premium earned around USD 91,167 thousand. Overall, in 2023, Everest Holdings has a market share of 2.36%.

 

20. Arch Insurance

Arch Insurance was formed in 2001 and has a registered office located at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. To date, Arch insurance has employees around 7,000 people and the business insurance of Arch are conducted in Bermuda, the U.S., the U.K., Europe, Canada, and Australia. Financially, according to the annual report 2024, total assets of arch insurance reached USD 70.9 billion with total liabilities of around USD 50 billion. In terms of business development, Arch Insurance successfully gained total revenue of USD 17.4 billion with net income of around USD 4.2 billion. According to the NAIC report, Arch Insurance has gained a direct premium written of USD 79,904 thousand with direct premium earned USD 68,760 thousand. Overall, in the earthquake insurance industry, Arch has a market share of around 1.54 %.

 

21.ICW Group 

Historically, ICW Group was incorporated in 1972 and operationally, this company has a primary office in San Diego, California. According to the NAIC report, the ICW group successfully collected a direct premium written of 61,842 thousand with direct premium earned of 63,024. Overall, ICW group has a market share of around 1.47%.

 

22. Tokio Marine Holdings Inc Grp      

Tokio Marine Holdings, Inc. is a Japanese 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 the business development of the company, Tokio Marine operated in 46 countries with total employees of 43,000 people worldwide. Financially, as of March 2023, Tokio Marine holding has total assets of JPY 27.6 trillion and gained net adjusted income reaching JPY 444 billion. According to the report of National Association of Insurance Commissioners (NAIC), in the earthquake insurance industry, Tokio Marine Holdings gained a direct premium written around USD 64,965 thousand US Dollar with direct premium earned around USD 61,192 thousand. Overall, Tokio Marine Holding has a market share of 1.55%.

 

23. QBE Insurance Group       

QBE Insurance Group Limited is an Australian multinational general insurance company headquartered in Sydney, Australia. As of 2023, the total employees of QBE Insurance reached 13,479 people. According to its annual report of 2023, QBE Insurance has total assets of USD 42.11 billion with total equity of around USD 9.95 billion. In terms of business performance in 2023, QBE has successfully gained net income of USD 1.36 billion. According to the NAIC report, especially in the earthquake insurance industry, QBE has successfully gained a direct premium written of around USD 62,799 thousand and direct premium earned USD -4,789 thousand. Overall, QBE Insurance has a market share of 1.21 %.

 

24. Axis Capital Group  

AXIS Capital Holdings Limited was founded in Pembroke, Bermuda in 2001. Financially, in 2024, AXIS Capital Holdings has total assets amounting to USD 32 billion and total liabilities of USD 26 billion. Meanwhile, AXIS Capital Holdings also generated total revenue of USD 1.4 billion and achieved a net income of USD 293 million. According to the NAIC Report in the earthquake insurance industry, Axis Capital has a direct premium written of around USD 59,073 thousand with direct premium earned of around USD 48,801 thousand. Overall, Axis Capital Group has a market share of around 1.14 %.

 

25. Multinational Group

According to NAIC Report in the earthquake insurance industry, Multinational Group has direct premium written of around USD 53,306 thousand with direct premium earned of around USD 41,316 thousand. Overall, Axis Capital Group has a market share of around 1.03 %.

 

Bibliography of 20 Largest Earthquake Insurance Companies in United States of America (USA)

 

NAIC. 2025. 2023. Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide. Accessed via https://content.naic.org/article/naic-releases-2024-market-share-data   on March 20th, 2025.

Fm Global Grp.2025. About the Us. Accessed via https://www.fmglobal.com on March 20th, 2025. 

Palomar Holdings.2025. Annual Report 2024. Accessed via https://ir.palomarspecialty.com on March 20th, 2025. 

State Farm Insurance.2025. Accessed via https://www.statefarm.com  on March 20th, 2025. 

Zurich Insurance.2025. Accessed via https://www.zurich.com/en/investor-relations/results-and-reports on March 20th, 2025. 

Berkshire Hathaway Grp.2025. Annual Report 2024. Accessed via https://www.berkshirehathaway.com/reports.html on March 20th, 2025. 

Travelers Grp.2025. Annual Report 2024. Accessed via https://investor.travelers.com/home/default.aspx on March 20th, 2025. 

Chubb Ltd Grp.2025. Annual Report 2024. Accessed via https://investors.chubb.com/home/default.aspx   on March 20th, 2025. 

Sompo Grp.2025. Annual Report 2024. Accessed via https://www.sompo-hd.com/en/ir/data/annual/  on  March 20th, 2025. 

Liberty Mutual Group.2025. Annual Report 2024. Accessed via https://www.libertymutualgroup.com/about-lm/investor-relations/overview   on March 20th, 2025. 

American International Group.2025. Accessed via https://www.aig.com/home/investor-relations/annual-report   on March 20th, 2025. 

Geovera Holdings Inc Grp.2025. Who Are We? Accessed via https://geovera.com/who-we-are/   on March 20th, 2025. 

Everest Reins Holdings Grp.2025. About the Us. Accessed via https://www.everestholdings.com/about/   on March 20th, 2025. 

American Family Insurance. 2025. About Our Company. Accessed via https://www.amfam.com/about   on March 20th, 2025. 

Golden Bear Insurance Company. 2025. About Us. Accessed via https://www.goldenbear.com/about-us/   on September March 20th, 2025. 

AXA Insurance. 2025. Annual Report 2024. Accessed via https://www.axa.com/en/investor/annual-and-interim-reports   on March 20th, 2025. 

United Services Automobile Association (USAA). 2025. About the US. Accessed via https://www.usaa.com/about/  March 20th, 2025. 

Swiss Re Grp. 2025. Annual Report 2024. Accessed via https://www.swissre.com/investors.html March 20th, 2025. 

CNA Insurance. 2025. Annual Report 2024. Accessed via https://investor-relations.cna.com/home/default.aspx   March 20th, 2025. 

Tokio Marine Holdings Inc Grp. 2024. Annual Report 2024. Accessed via https://www.tokiomarinehd.com/en/ir/  March 20th, 2025. 

ICW Group Assets Inc Grp. 2025. About Us. Accessed via https://www.icwgroup.com/about/  March 20th, 2025.