New figures from the National Association of Insurance Commissioners show the country’s Top 10 auto insurers control just over 68.2 percent of the market, up from 67.9 percent a year ago and up from 59.3 percent a decade ago.
State Farm remains No. 1 with 18.69 percent marketshare, growing by more than 1 percent for the second year in a row. Allstate remains No. 2 with just over 10 percent market share, but for the second year in a row it lost ground in relation to other companies.
No. 3 GEICO’s 5 percent growth in total premiums last year puts it on track to catch Allstate (if that company’s current rate of decline continues) by 2013. At 8.5 percent market share, GEICO remained above No. 4 Progressive, which also grew last year to have 7.71 percent market share.
Other Top 10 auto insurers growing last year were No. 6 Liberty Mutual, No. 7 USAA and No. 9 Travelers, while No. 5 Farmers, No. 8 Nationwide and No. 10 American Family lost ground.
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