Hartford Insurance Group tops U.S. workers’ comp market in latest AM Best ranking
Competition among the largest U.S. workers’ compensation insurers shifts in the latest market ranking as Hartford Insurance Group moves ahead of Travelers Group. The change comes as the broader sector records a decline in direct premiums written and a weaker adjusted loss ratio in 2025.
Highlights
- Hartford Insurance Group becomes the largest U.S. workers’ compensation carrier with $3.73 billion in direct premiums written for 2025, surpassing Travelers Group.
- Hartford’s direct premiums written rise 0.8% while Travelers declines 3.7% to $3.69 billion, shifting the top carrier rankings for 2025.
- Total U.S. workers’ compensation sector premiums fall 2.4% to $56.18 billion in 2025, with the top 25 carriers’ adjusted loss ratio worsening to 48.5 from 47.6.
2025 ranking reshapes carrier standings
As reported by AM Best, Hartford Insurance Group becomes the largest U.S. workers’ compensation carrier after reporting $3.73 billion in direct premiums written, edging past Travelers Group.Hartford’s direct premiums written rise 0.8% in 2025, while Travelers, ranked second, posts a 3.7% decline to $3.69 billion. The rest of the top five carriers are AmTrust Group with $3.52 billion, Zurich Insurance US PC Group with $2.79 billion, and Chubb INA Group with $2.41 billion.
The ranking includes direct premiums written, percentage change, market share, adjusted loss ratios and the percentage of company premiums tied to the line of business.
Sector pressure shows in premiums and losses
Across the U.S. workers’ compensation sector, direct premiums written fall 2.4% to $56.18 billion in 2025, indicating slower premium volume across the market.The top 25 carriers account for 67.7% of the market, while their adjusted loss ratio deteriorates to 48.5 from 47.6 a year earlier. That suggests the leading insurers continue to dominate the segment even as underwriting conditions become less favorable.
Our earlier coverage of the May U.S. jobs report highlighted stronger-than-expected nonfarm payroll growth alongside an unemployment rate holding at 4.3%, reinforcing the “slow-hire, slow-fire” picture of the labor market. We also noted that policy and geopolitical uncertainty could influence inflation and keep the Federal Reserve inclined to hold rates steady, a backdrop that matters for underwriting and premium trends tied to employment levels.
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