The following is our ranking of the top 10 insurance companies in the United States. Prudential Financial Inc is the largest U.S. insurer by assets and the second-largest by net premiums written. With over 51,000 employees, it offers a wide suite of products and services including term and universal life insurance, health insurance, variable and fixed annuities, retirement plans, asset management, mutual funds, and more. The company has about $4 trillion of gross life insurance in force globally.
Berkshire Hathaway Inc is the second-largest insurance company in the U.S. in terms of total assets. It provides property & casualty insurance and reinsurance services through numerous subsidiaries. GEICO, the leading insurance subsidiary of Berkshire, is the second-largest auto insurance company in the nation with over 17 million auto policies in force and about 29 million insured vehicles. It is one of the highest-ranking auto insurance brands based on the customer satisfaction index in Florida and the North Central Region according to JD Power.
Metlife, headquartered in New York City, is the third-largest insurance company in America by assets and the largest life insurer in the US by direct premiums written. It provides life, dental, disability, and property/casualty insurance, annuities, employee benefits, asset management, and other services. MetLife’s shares are traded on the New York Stock Exchange under the ticker symbol MET, with a market capitalization of $50 billion as of February 19, 2021. The company was established in 1868 and employs about 48,000 people.
Top 10 Insurance Companies by Assets
Following are the 10 largest insurance companies in the U.S. ranked by total assets.
|Rank||Company||Total assets, US$b||Balance sheet|
|4||American International Group||569.388||06/30/2020|
|5||New York Life||366.300||06/30/2020|
|6||Lincoln Financial Group||339.659||06/30/2020|
|8||John Hancock Life Insurance *||298.750||06/30/2020|
|9||State Farm Insurance||294.820||12/31/2019|
|10||Jackson National **||294.600||06/30/2020|
* John Hancock Life Insurance Company (USA) or JHUSA is a division of Manulife Financial Corporation, a Canadian company.** Jackson National Life Insurance Company is a subsidiary of UK insurer Prudential plc.
Top 10 Insurance Companies by market capitalization
The table shows the largest U.S. insurance companies based on market capitalization as of March 5, 2021.
|Rank||Company||Market capitalization, US$b|
|1||Berkshire Hathaway Inc||582.7 B|
|2||Anthem Inc||81.7 B|
|3||Cigna Corporation||81.1 B|
|5||Progressive Corp||52.5 B|
|6||American International Group||40.6 B|
|7||Travelers Companies||38.4 B|
|8||Prudential Financial||36.0 B|
|9||Aflac Inc||34.4 B|
|10||Allstate Corp||33.8 B|
Top 10 Life Insurance Companies
Here are the top life insurance companies in the U.S. based on direct premiums written.
2. Prudential Financial
3. Equitable Holdings
4. New York Life
6. Lincoln National Corp
7. Principal Financial Group
8. American International Group
9. Jackson National Life
Top 10 Property & Casualty Insurance Companies
Below are the top 10 U.S. property/casualty insurers ranked by direct premiums written.
1. State Farm Mutual
2. Berkshire Hathaway
3. Progressive Corp
4. Liberty Mutual
5. Allstate Corp
6. Travelers Companies
8. Chubb Ltd
9. Farmers Insurance Group
10. Nationwide Group
Insurance companies have become integral in the lives of many people and organizations. The numbers of risks we face have been on an incline, a reason for the increased demand for insurance. We all face an array of risks ranging from accidents, risks of being victims of calamities and disasters, the risk of falling sick and lastly, the risk of life.
The pain and financial demands that come with these risks are at times overwhelming. Insurance is one of the main ways one gets prepared for the worst. Below are the
With a presence in at least 56 countries, a 157,000 employment base, and a 102 million customer base, AXA is arguably the leading insurance group in the world. Its main products include a concentration in life insurance, asset management, saving and casualty insurance, dating back to 1817, the company is headquartered in Paris and has a presence in all the continents save for Australia. On average, the company makes a revenue of about €100 billion per year.
A Switzerland headquartered insurance company, Zurich Insurance Company has a global presence that has carefully been built and spread since 1872. Together with its subsidiaries, the company operates in at least 170 countries and makes an average of $60 billion every year. Its core businesses include global life insurance, general life insurance, and farmers insurance. The company gives products to individuals as well as all business sizes. Zurich has an employee base of about 55,000 cuts across all the continents.
China has fast caught up with the world in almost all sectors, not to mention the insurance industry. China Life Insurance, one of the largest in the world, is a state-owned insurance and financial service provider. In addition, it is a key player in the Chinese capital market, with its contributions as an institutional investor providing an important contribution.
Started in 1949, it is a state-owned insurance company that began as Peoples Insurance Company of China. It was restructured in 2003 as China Life Insurance Company. Today, it has seven subsidiaries that run its key businesses within pension plans, insurance, property and casualty, asset management, overseas operations and investment holdings. In terms of market capitalization, China Life Insurance is the largest in the world.
This is yet another great name in the insurance sector. It deals in insurance and financial services with its operations cutting across the Asian continent, the U.K, the U.S.A as well as the recently penetrated Africa. Founded in the U.K. in 1848, the company does its businesses under the names: Jackson National Life Insurance Co, Prudential Corporation Asia, and M&G Investments.