By: Hemanth Ramesh August, 09, 2019
Gavop studied the data published by the National Association of Insurance Commissioners (NAIC) in 2019 and identified the top 5 insurance firms in Ohio by market share.
State Farm is the biggest insurance firm in Ohio with a market share of 11.35%. In 201,8 the firm reported written direct premiums of $2,080,574 and direct premiums earned of $2,080,805. AM Best has given State Farm the highest possible rating of A++, which is reserved for companies that have a superior ability to meet their ongoing insurance obligations.
Progressive Group is a prominent player in Ohio’s insurance market, with 6.56% of the market share. The insurance firm had direct premiums written worth $1,202,775 and direct premiums earned of $1,148,092 in 2018. The Progressive Group has been rated A+ by AM Best. An A+ rating signifies companies that have a superior ability to meet their current insurance obligations.
All State has an impressive market share of 6.07% in Ohio. The total direct insurance premiums written last year by the firm was $1,111,799 whereas the direct premiums earned totalled to $1,103,906. All State and its subsidiaries have been rated A+ by AM Best for their superior ability to meet current insurance obligations.
Nationwide Corp Group
Nationwide holds 5.33% of the insurance market share in Ohio. The firm reported $976,487 in direct insurance premiums written and $982,045 in direct insurance premiums earned. Nationwide’s A+ rating, conferred by AM Best, indicates the company’s superior ability to meet its ongoing insurance obligations.
Liberty Mutual Group
Liberty Mutual Group owns 5.29% of the insurance market share in Ohio. The direct written premium of the company in 2018 was $969,224 and the direct premium earned was $957,095. AM Best has given Liberty Mutual Group an A rating for its excellent ability to meet its 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.