State Farm 

world's largest auto insurer revealed


Last year, gross direct written premiums (GDWP) for global auto insurance reached $822.5 billion.

Progressive has overtaken State Farm to become the world's largest underwriting group, according to a new study by Insuramore. 

Other top five companies included Berkshire Hathaway, PICC, and Ping An.

A study also indicated that many insurers struggled to grow their GDWP in 2021 for auto insurance

As a result, profitability has deteriorated amid higher-than-anticipated auto insurance claims inflation in 2022.

A few companies, however, reported strong, double-digit growth last year, according to Insuramore.

These included Sampo, thanks to its acquisition of Hastings Group, along with Root and Skyfire, through organic growth. 

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