# 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.

## Companies

[PGR](/company/PGR/), [TRV](/company/TRV/), [ALL](/company/ALL/), [CB](/company/CB/), [AIG](/company/AIG/), [HIG](/company/HIG/), [CINF](/company/CINF/), [WRB](/company/WRB/)

## Governing statutes (not legal advice)

**Descriptive law cross-reference -- not legal advice.** grepcent publishes a curated industry-to-statute association only. This is not legal advice. 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. Not legal advice. Citing cases are shown as a case-citation in-degree importance signal, not an endorsement.

- [15 U.S.C. § 1012](https://www.neochart.com/catalog/federal/title_15/section_1012/title15_sec1012_60912c6d6dd5/1012_regulation_by_state_law_federal_law_relating_specifical_0001/index.html): § 1012. Regulation by State law; Federal law relating specifically to insurance; applicability of certain Federal laws after June 30, 1948 (550 citing cases; source neochart)

## Methodology

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.

Pack hash: `5926abd4b163035a932feee1401beb7bada610098c85c8922835fd168adde013`. Generated: 2026-07-23.

## Verified Quantitative Matrix

| Metric | PGR | TRV | ALL | CB | AIG | HIG | CINF | WRB | Comparability |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue / premiums | 87,671,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_REVENUE_FY2025; concept us-gaap:Revenues | 48,828,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_REVENUE_FY2025; concept us-gaap:Revenues | 67,685,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_REVENUE_FY2025; concept us-gaap:Revenues | 59,402,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_REVENUE_FY2025; concept us-gaap:Revenues | 26,775,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_REVENUE_FY2025; concept us-gaap:Revenues | 28,368,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_REVENUE_FY2025; concept us-gaap:Revenues | 12,631,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_REVENUE_FY2025; concept us-gaap:Revenues | 14,707,856,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_REVENUE_FY2025; concept us-gaap:Revenues | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Operating margin | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Only 0 of 8 companies have a verified fact; threshold is 3. |
| Net margin | 12.90%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 12.88%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 15.19%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 17.36%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 11.56%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 13.52%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 18.95%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 12.10%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Return on equity | 37.29%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 19.12%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 33.59%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 13.98%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 7.53%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 20.21%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 15.04%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | 18.34%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_ROE_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:StockholdersEquity | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Book value / equity | 30,323,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 32,894,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 30,610,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 73,757,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 41,139,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 18,979,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 15,911,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_EQUITY_FY2025; concept us-gaap:StockholdersEquity | 9,700,818,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_EQUITY_FY2025; concept us-gaap:StockholdersEquity | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Total investments | 97,373,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 101,182,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 83,237,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 168,720,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 92,999,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 63,957,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 31,783,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | 30,687,429,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_TOTAL_INVESTMENTS_FY2025; concept us-gaap:Investments | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Benefits/losses/expenses / premiums | 89.94%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | 93.44%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | 91.35%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | 87.44%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | 96.40%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | 98.24%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | 96.67%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_COMBINED_RATIO_FY2025; concept us-gaap:BenefitsLossesAndExpenses; us-gaap:PremiumsEarnedNet | Not available | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned; tags clean |
| Dividends paid | 2,871,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 979,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 1,036,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 1,505,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 976,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 592,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 525,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 700,269,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Share buybacks | Not available | 3,004,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 1,233,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 3,694,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 5,836,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 1,615,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 205,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 270,221,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Liabilities / equity leverage | 3.06; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PGR_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 3.37; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_TRV_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 2.91; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_ALL_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 2.61; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CB_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 2.92; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AIG_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 3.53; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_HIG_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 1.58; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_CINF_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 3.54; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WRB_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean |
| Cash and equivalents | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Quarantined | Only 1 of 8 companies have a verified fact; threshold is 3. |

## Code-computed comparisons

- grepcent-computed benefits/losses/expenses to premiums range: range endpoints are [CB](/company/CB/) (87.44%) and [HIG](/company/HIG/) (98.24%). Computed from facts NUM_CB_COMBINED_RATIO_FY2025 and NUM_HIG_COMBINED_RATIO_FY2025; comparability: period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned; tags clean. Excluded: WRB: no combined_ratio fact available.
- Reported return on equity range: range endpoints are [AIG](/company/AIG/) (7.53%) and [PGR](/company/PGR/) (37.29%). Computed from facts NUM_AIG_ROE_FY2025 and NUM_PGR_ROE_FY2025; comparability: period aligned; reference 2025-12-31; offsets AIG 0d aligned, ALL 0d aligned, CB 0d aligned, CINF 0d aligned, HIG 0d aligned, PGR 0d aligned, TRV 0d aligned, WRB 0d aligned; tags clean.

Market-risk companion: [/compare/insurers/risk/](/compare/insurers/risk/).

## Gate summary

Facts: 95. Claims survived: 9. Claims dropped: 0. Cells quarantined: 40.