Travelers Edges Out Liberty Mutual To Become Largest Workers Compensation Insurer

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The Travelers Cos. replaced Liberty Mutual as the largest provider of workers’ compensation in 2013, according to an annual list of top insurers by business segment released Wednesday.

Liberty Mutual fell to second place after holding the top spot a year earlier, and The Hartford Financial Services Group maintained its third place position both years. The statistics were revealed in an annual analysis of insurers’ market share, released by the National Association of Insurance Commissioners.

Last year in workers compensation, Travelers had $4 billion in earned-premium revenue for workers’ compensation. Liberty Mutual had $3.87 billion and The Hartford had $3.3 billion.

In the broader context, State Farm was the top property-casualty insurer in the U.S. if premium revenue for all business segments is added together. State Farm had $55 billion in earned-premium revenue in 2013, up from $53 billion a year earlier. State Farm continued to dominate in the two largest, most lucrative insurance segments — homeowners and personal auto.

After State Farm, the top property-casualty insurers last year by market share, followed by the company’s earned-premium revenue, are: Liberty Mutual, $28.9 billion; Allstate, $27.2 billion; Berkshire Hathaway, $22.3 billion; Travelers, $22.8 billion. Berkshire Hathaway owns GEICO.

Top home insurers last year were State Farm, Allstate, Liberty Mutual, Farmers Insurance, United Services Automobile Association. Top personal auto insurers were State Farm, Berkshire Hathaway, Allstate, Progressive and Farmers Insurance.

Property-casualty was a $531.7 billion industry last year, which includes $179 billion from personal auto; $80.2 billion from homeowners’ coverage; $54.5 billion from “other liability,” which is general liability; $50.4 billion in workers’ compensation; $25.8 billion in commercial auto coverage; among other lines of coverage.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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