Progressive vs State Farm – world’s largest auto insurer revealed

Progressive vs State Farm - world's largest auto insurer revealed

Gross direct written premiums (GDWP) for the global auto insurance market rose to about $822.5 billion last year, with Progressive overtaking State Farm to become the world’s largest underwriting group in the sector, according to a new study by insurance marketing and consulting firm Insuramore. Berkshire Hathaway and China-based PICC and Ping An were also among the top five.

The study also showed that many insurers struggled to achieve significant growth in their GDWP for auto insurance in 2021, and have consequently suffered deteriorating profitability amid higher-than-anticipated auto insurance claims inflation in 2022. However, a few companies

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