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Sheena Harrison

Travelers becomes largest U.S. workers comp insurer: NAIC

March 5, 2014 - 11:09am

Travelers Cos. Inc.


Travelers Cos. Inc. was the largest workers compensation insurer in the nation last year, overtaking Liberty Mutual Holding Co. Inc. for the top spot, according to market share data released this week by the National Association of Insurance Commissioners.

Travelers had $4.14 billion in direct written workers comp premiums in 2013, or roughly 8% of the national workers comp market share, according to NAIC. Liberty Mutual had $3.6 billion in direct written comp premiums last year, or roughly 6.97% of the market share.

The report includes tentative data that will be updated through the end of March, Washington-based NAIC said in a statement Monday.

Finalized NAIC data from last year showed that Liberty Mutual had $4.18 billion in direct written workers comp premiums in 2012, or 8.69% of the national workers comp market share that year. Travelers was in second place with $3.8 billion in workers comp premiums in 2012, or 7.91% of the national comp market.

The next-largest workers comp insurers have remained largely unchanged, NAIC data shows. Hartford Financial Services Group Inc. remained in third place with $3.34 billion in direct written comp premiums in 2013, up 1.8% from $3.28 billion in 2012.

American International Group Inc. remained in fourth place with $2.84 billion in workers comp premiums last year, down 3.5% from $2.95 billion in 2012. Swiss-based Zurich Insurance Group Ltd. stayed in fifth place with $2.53 billion in comp premiums last year, down 8.5% from $2.77 billion in premiums for 2012.

The NAIC's report, along with data for other property/casualty lines, is available here.

 



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