AI-assembled from public SEC filings
Property and casualty insurers peer review
Descriptive comparison assembled from public SEC filings and verified companyfacts.
Descriptive comparison — not investment advice. This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better. It is not a rating, recommendation, endorsement, forecast, or investment advice. Figures are as of their cited filing dates. See Disclaimer.
Methodology
Mechanical P&C insurer cluster: large insurers in the existing grepcent universe with SEC SIC 6331 Fire, Marine & Casualty Insurance.
The cluster is selected mechanically from public SEC SIC 6331 companies already present in grepcent's processed universe, at large-cap scale by latest reported revenue. Diversified holding companies whose insurance operations sit alongside large non-insurance segments are excluded and named rather than dropped silently: BRK-B is the notable case. The review publishes no proprietary index-membership labels.
Provenance
Verified Quantitative Matrix
Numbers are templated from frozen SEC companyfacts-derived facts already verified by grepcent. Fiscal periods and filing dates are shown in each cell; comparability markers use day-level period ends and reported XBRL source concepts.
| Metric | PGR | TRV | ALL | CB | AIG | HIG | CINF | WRB |
|---|---|---|---|---|---|---|---|---|
| Revenue / premiums | 87,671,000,000 source | 48,828,000,000 source | 67,685,000,000 source | 59,402,000,000 source | 26,775,000,000 source | 28,368,000,000 source | 12,631,000,000 source | 14,707,856,000 source |
| Net margin | 12.90% source | 12.88% source | 15.19% source | 17.36% source | 11.56% source | 13.52% source | 18.95% source | 12.10% source |
| Return on equity | 37.29% source | 19.12% source | 33.59% source | 13.98% source | 7.53% source | 20.21% source | 15.04% source | 18.34% source |
| Book value / equity | 30,323,000,000 source | 32,894,000,000 source | 30,610,000,000 source | 73,757,000,000 source | 41,139,000,000 source | 18,979,000,000 source | 15,911,000,000 source | 9,700,818,000 source |
| Total investments | 97,373,000,000 source | 101,182,000,000 source | 83,237,000,000 source | 168,720,000,000 source | 92,999,000,000 source | 63,957,000,000 source | 31,783,000,000 source | 30,687,429,000 source |
| Benefits/losses/expenses / premiums | 89.94% source | 93.44% source | 91.35% source | 87.44% source | 96.40% source | 98.24% source | 96.67% source | Not available. |
| Dividends paid | 2,871,000,000 source | 979,000,000 source | 1,036,000,000 source | 1,505,000,000 source | 976,000,000 source | 592,000,000 source | 525,000,000 source | 700,269,000 source |
| Share buybacks | Not available. | 3,004,000,000 source | 1,233,000,000 source | 3,694,000,000 source | 5,836,000,000 source | 1,615,000,000 source | 205,000,000 source | 270,221,000 source |
| Liabilities / equity leverage | 3.06 source | 3.37 source | 2.91 source | 2.61 source | 2.92 source | 3.53 source | 1.58 source | 3.54 source |
Code-computed comparisons
- grepcent-computed benefits/losses/expenses to premiums range: range endpoints are CB (87.44%) and HIG (98.24%).
- Reported return on equity range: range endpoints are AIG (7.53%) and PGR (37.29%).
Market-risk companion: risk and factor comparison from lmfin. It is descriptive and separate from the SEC fundamentals review.
Narrative Matrix
| Dimension | PGR | TRV | ALL | AIG | WRB |
|---|---|---|---|---|---|
| Business model | In its latest annual MD&A, PGR describes this business model item. Our Personal Lines segment, which represents 87% of companywide net premiums written, writes insurance for personal vehicles, which include personal auto and special lines products (e.g., recreational vehicles, such as motorcycles, RVs, and watercraft), personal residential property insurance for homeowners and renters, umbrella insurance, and flood insurance through the “Write Your Own” program for the National Flood Insurance Program. company page · source filing · filed 2026-03-02 | — | In its latest annual MD&A, ALL describes this business model item. Private passenger auto, homeowners, and other personal lines insurance products are offered to consumers through exclusive agents, independent agents and directly to the consumer through contact centers and online. company page · source filing · filed 2026-02-20 | In its latest annual MD&A, AIG describes this business model item. The three segments are North America Commercial, International Commercial and Global Personal. company page · source filing · filed 2026-02-12 | — |
| Stated strategy in filings | — | — | — | — | In its latest annual MD&A, WRB describes this stated strategy in filings item. Our decentralized structure provides us with the flexibility to respond quickly and efficiently to local or specific market conditions and to pursue specialty business niches. company page · source filing · filed 2026-02-27 |
| Idiosyncratic risks in filings | In its latest annual MD&A, PGR describes this idiosyncratic risks in filings item. This program is comprised of privately placed reinsurance, reinsurance placed through catastrophe bond transactions, and coverage obtained through the Florida Hurricane Catastrophe Fund (FHCF). company page · source filing · filed 2026-03-02 | In its latest annual MD&A, TRV describes this idiosyncratic risks in filings item. Catastrophes in 2025 primarily resulted from the January 2025 California wildfires and severe wind and hail storms in multiple states. company page · source filing · filed 2026-02-12 In its latest annual Risk Factors section, TRV describes this idiosyncratic risks in filings item. For example, the January 2025 California wildfires resulted in assessments to insurers from the California FAIR Plan. company page · source filing · filed 2026-02-12 | In its latest annual MD&A, ALL describes this idiosyncratic risks in filings item. We have decreased our overall homeowner exposure in California by more than 50% since 2007. company page · source filing · filed 2026-02-20 | — | In its latest annual MD&A, WRB describes this idiosyncratic risks in filings item. Catastrophe losses, net of reinsurance recoveries, were $336 million in 2025, with the largest contributors being California wildfire losses and frequency of severe storms, and $298 million in 2024, driven by heightened frequency of severe catastrophe events, with Hurricanes Helene and Milton having the largest impacts. company page · source filing · filed 2026-02-27 |
Related law (on neochart)
Not legal advice. grepcent publishes a curated industry-to-statute association only. It does not interpret statutes, assess company conduct, or mirror statute text. Deep links go to neochart.
Statutes grepcent curates as governing this industry, deep-linked to neochart's official text. Case-citation counts are shown as an importance signal, not the selection criterion. Citing cases are shown as a case-citation in-degree importance signal, not an endorsement.
- 15 U.S.C. § 1012: § 1012. Regulation by State law; Federal law relating specifically to insurance; applicability of certain Federal laws after June 30, 1948
Provenance
Withheld quantitative rows
- operating_margin: Only 0 of 8 companies have a verified fact; threshold is 3.
- cash: Only 1 of 8 companies have a verified fact; threshold is 3.
Withheld dimensions
- geographic_customer_exposure: No quote passed the evidence checks.
- capital_allocation: No quote passed the evidence checks.
- recent_narrative_change: No quote passed the evidence checks.
Withheld cells
- TRV / business_model: no quote passed the evidence checks
- CB / business_model: no quote passed the evidence checks
- HIG / business_model: no quote passed the evidence checks
- CINF / business_model: no quote passed the evidence checks
- WRB / business_model: no quote passed the evidence checks
- PGR / geographic_customer_exposure: no quote passed the evidence checks
- TRV / geographic_customer_exposure: no quote passed the evidence checks
- ALL / geographic_customer_exposure: no quote passed the evidence checks
- CB / geographic_customer_exposure: no quote passed the evidence checks
- AIG / geographic_customer_exposure: no quote passed the evidence checks
- HIG / geographic_customer_exposure: no quote passed the evidence checks
- CINF / geographic_customer_exposure: no quote passed the evidence checks
- WRB / geographic_customer_exposure: no quote passed the evidence checks
- PGR / capital_allocation: no quote passed the evidence checks
- TRV / capital_allocation: no quote passed the evidence checks
- ALL / capital_allocation: no quote passed the evidence checks
- CB / capital_allocation: no quote passed the evidence checks
- AIG / capital_allocation: no quote passed the evidence checks
- HIG / capital_allocation: no quote passed the evidence checks
- CINF / capital_allocation: no quote passed the evidence checks
- WRB / capital_allocation: no quote passed the evidence checks
- PGR / stated_strategy: no quote passed the evidence checks
- TRV / stated_strategy: no quote passed the evidence checks
- ALL / stated_strategy: no quote passed the evidence checks