By: Hemanth Ramesh August, 21, 2019
Gavop has identified the top 5 insurance firms in Illinois by analyzing the latest market share report published by the National Association of Insurance Commissioners (NAIC) in 2019.
State Farm Group
State Farm Group is by far the largest insurance provider in Illinois with a market share of 14.97%, which is more than twice that of the next largest insurance provider. In 2018, State Farm’s direct written premium totalled to $3,899,883 and its direct earned premium was $3,872,734. AM Best awarded State Farm a rating of A++ for its superior ability to meet its ongoing insurance obligations. Readers of Consumer Reports have given State Farm a score of 89/100 on customer satisfaction.
All State Insurance Group
All State Insurance has the second largest market share in Illinois at 6.22%. All State’s written premium in 2018 was $1,618,879, while its direct earned premium was $1,588,166. All State received a rating of A+ from AM Best for its ability to meet its current insurance obligations.
Country INS & FIN Serve Group
Country INS & FIN owns 4.76% of the insurance market in Illinois. The firm collected $1,241,030 in written direct premiums in 2018 whereas the earned direct premium for the year was $1,228,839. AM Best awarded Country INS & FIN Serve Group an A+ for its superior ability to meet its ongoing insurance obligations.
Travelers Group holds a market share of 4.15% in Illinois. Their direct premium written last year was $1,081,164, and direct premium earned was $1,076,764. The insurance firm received the highest rating of A++ rating from AM Best for its superior ability to meet its current insurance obligations.
Chubb Ltd Group
The Chubb Ltd Group owns 3.88% of the insurance market share in Illinois. In written direct premium, the firm amassed $1,009,638 last year and its earned direct premium was $1,000,795. Chubb Ltd Group also has an A++ rating from AM Best for its ability to meet ongoing insurance obligations.
Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.