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.