Enjoy complimentary access to top ideas and insights — selected by our editors.
The top five insurance companies in the ranking have an average workers' comp market share of 5.62% as of December 31, 2024. The combined direct premiums written by the top five were more than $16 billion, while the direct premiums earned were also more than $16 billion.
The rankings also measured factors including direct loss to earned premium (EP) ratio and direct losses and defense and cost containment (DCC) expenses to EP ratio.
Scroll through to see which insurance companies are in the top 20 and how they fared through the end of December 2024.
Source: National Association of Insurance Commissioners
Insurance companies with the highest workers' comp market share
| Rank | Company | Market
share | Direct
premiums
written | Direct
premiums
earned | Direct loss
to EP ratio | Direct loss
and DCC
to EP ratio |
| 20 | Fairfax Financial | 1.26% | 724,418,584 | 724,604,784 | 35.33 | 41.3 |
| 19 | Employers | 1.34% | 767,844,865 | 747,790,192 | 48.31 | 55.84 |
| 18 | Arch | 1.49% | 858,824,474 | 852,545,859 | 52.67 | 65 |
| 17 | Texas Mutual | 1.79% | 1,027,243,222 | 1,031,139,914 | 37.21 | 42.21 |
| 16 | State Compensation
Insurance Fund
(California) | 1.9%
| 1,090,477,682 | 1,084,833,627 | 29.2 | 73.89 |
| 15 | CNA | 1.97% | 1,130,836,602 | 1,078,575,061 | 32.56 | 36.41 |
| 14 | ICW Group | 2.13% | 1,226,131,929 | 1,210,687,947 | 55.86 | 62.76 |
| 13 | Berkley | 2.14% | 1,231,803,844 | 1,223,732,339 | 49.42 | 56.15 |
| 12 | AIG | 2.29% | 1,318,119,061 | 1,282,595,515 | 55.31 | 41.42 |
| 11 | American
Financial
Group | 2.41% | 1,386,144,731 | 1,378,154,608 | 43.94 | 49.93 |
| 10 | Old Republic | 2.6% | 1,493,596,962 | 1,461,992,006 | 54.95 | 63.36 |
| 9 | Blue Cross
Blue Shield
of Michigan | 2.62% | 1,506,471,895 | 1,553,910,755 | 50.46 | 56.19 |
| 8 | New York State
Insurance Fund | 2.93% | 1,686,140,548 | 1,700,063,798 | 63.5 | 69.02 |
| 7 | Liberty
Mutual | 3.23% | 1,854,562,073 | 1,961,702,642 | 32.09 | 39.07 |
| 6 | Berkshire
Hathaway | 3.6% | 2,067,039,937 | 2,078,096,501 | 53.99 | 61.2 |
| 5 | Chubb | 4.09% | 2,351,348,302 | 2,466,903,377 | 38.63 | 41.57 |
| 4 | Zurich | 5.01% | 2,879,952,884 | 2,872,486,691 | 43.19 | 62.24 |
| 3 | AmTrust | 5.86% | 3,369,191,719 | 3,301,324,506 | 52.88 | 59.63 |
| 2 | The Hartford | 6.45% | 3,705,411,049 | 3,692,588,993 | 45 | 51.14 |
| 1 | Travelers | 6.67% | 3,833,368,542 | 3,839,155,359 | 39.88 | 45.04 |
