Top 10 Leading Insurance Companies


Top 10 Leading Insurance Companies

Positioning the size of an insurance agency can be done in a variety of ways. Companies can be measured by their market value (the company's value on the stock exchange) or by sales data, such as net premiums written per year or how many policies were sold. Here we look at the 10 largest insurance companies by market capitalization, market share and revenue.

A key Takeaway

  1. Insurance agency are significant players in the worldwide monetary economy, in spite of the fact that they may not be pretty much as conspicuous as venture banks or mutual funds.
  2. There are many varied sizes and specializations among insurance businesses, from health to life to property and casualty.
  3. Market value, or market value, is the value of a company's outstanding shares.
  4. Some insurance companies are mutually owned, where the insured are the owners.
  5. When rating insurance companies, it is important to classify them according to their product line.

The largest Insurance Companies by Market Value

Market value, or market value, is the total value of a company's stock, and is calculated by multiplying the number of shares outstanding by the current share price. This is a quick way to determine the value of a company in the eyes of investors.

Companies with large market capitalizations are generally conservative, established investments. They are likely to experience constant growth and offer the least amount of risk. Medium-sized companies are also established but have high growth potential. Finally, small companies are often new companies with high growth potential. Investing in these companies poses the greatest risk because they are more vulnerable to economic downturns than the more established large and mid-sized companies.

Investors can buy shares of public companies in the insurance industry. The largest health insurance companies by market value in the world stock exchanges as of the first quarter of 2022 are:

Publicly Traded Non-Health Insurance Companies

Company name Market value

  1. Berkshire Hathaway (USA) $714 billion
  2. Ping An Insurance (China) $141 billion
  3. AIA Group (Hong Kong) $123 billion
  4. China Life Insurance (China) $106 billion
  5. Allianz (Germany) $89 billion
  6. Cigna (USA) $76 billion
  7. Zurich Insurance (Switzerland) $67 billion
  8. AXA (France) $65 billion
  9. Humana (USA) $55 billion
  10. Munich (Germany) $39 billion

Market value data as of March 1, 2022. Source: Yahoo! to finance.

Managed Health Care Companies and Publicly Traded Health Insurance

Company Name Market Capitalization

  1. United Healthcare (UNH) $448 billion
  2. CVS (CVS) $136 billion
  3. Anthem (ANTM) $109
  4. billion Cigna (CI) $76 billion
  5. Humana (HUM) $55 billion
  6. Centene Corporation (CNC) $48 billion
  7. Molina Healthcare (MOH) $18 billion
  8. Bright Health Group (BHG) $2 billion
  9. MultiPlan Corporation (MPLN) $2 billion
  10. Alignment Healthcare (ALHC) $1.6 billion

Market cap data as of March 1, 2022. Source: Yahoo! to fund

Not all insurance companies are traded on the stock exchange. In fact, many insurers are structured as mutual companies, where participating policyholders are actually partial owners of the company. The mutual company model of an insurance company goes back hundreds of years, and there are certain benefits given to policyholders that do not exist with public insurers (stock companies).

American Family Insurance is the biggest shared insurance agency in the US.

Biggest Insurance Companies by Sales Volume and Product Lineup.

It is useful to differentiate between the type of insurance, or the industry, that is taken into account when examining the largest insurance companies. Using sales data is helpful because some of the largest insurance companies in the United States are not publicly traded and therefore their market value cannot be easily determined.

Property and Casualties

Property and casualty insurers write policies that cover property such as real estate, apartments, cars, and other vehicles. They also write policies that deal with liabilities that may arise from an accident or negligence related to those properties to cover the cost of lawsuits or medical damages arising from such incidents.

The leading property and casualty companies in the US in 2020 by net premiums written (the amount of money non-life policies can expect to receive during the life of the contract, minus commissions and costs) are:

Company Net Premiums Written

  1. State Farm Group $66.2 billion
  2. Berkshire Hathaway (BRK.A) $46.4 billion
  3. Progressive Insurance Group (PGR) $41.7 billion
  4. Allstate Insurance Group (ALL) $39.2 billion
  5. Liberty Mutual $36.2 billion
  6. Travelers Group (TRV) 28.8 billion dollars.
  7. USAA Group $28.8 billion. (CB) $24.2 billion
  8. Farmers Insurance Group $20.1 billion Nationwide $18.5 billion

Life Insurance companies

When the covered person dies, life insurance companies guarantee to pay a lump sum. Although actuarial science has created mortality tables to accurately estimate the future liability to pay against policies, financial soundness ensures that these companies can meet all their obligations and still make a profit.

Life insurance companies in the US can be ranked according to direct premium written (the number of new policies written directly and not reinsured). For 2020:

The company's overall direct premium market share

  1. New York Life Group $11.7 billion 6.75%
  2. Northwestern Mutual $11.3 billion 6.52%
  3. Metropolitan Group (MET) $10.5 billion 6.05%
  4. Prudential of America (PRU) $10.1 billion 5.80%
  5. Lincoln National 8.4 billion USD $8.4 billion 4.83%
  6. Mass $4.83 billion State Farm $5.0 billion 2.87%
  7. Aegon (AEG) $4.9 billion 2.80%
  8. John Hancock $4.7 billion 2.73%
  9. Minnesota Mutual Grp $4.7 billion 2.70%

Health Insurance Companies

Health insurance companies provide policies to cover all or part of the insured's health and medical costs. Policies can be purchased separately or through an employer. Technically, the United States government is the largest provider of health insurance in America through the Medicare, Social Security, and Medicaid programs administered by individual states.

Based on the 2020 National Association of Insurance Commissioners (NAIC) report, the largest non-government sponsored US health insurance companies measured by total direct premium collected were:

Total Company Direct Premium Market Share

  1. UnitedHealth Group (UNH) $177 billion 14.1%
  2. Kaiser $104 billion 8.3%
  3. Anthem $77 billion 6.2%
  4. Centene Corp. $75 billion 6.0%
  5. Humana $74 billion 5.9%
  6. CVS Healthcare (CVS) $69 billion 5.5%
  7. CIGNA Health $32 billion 2.5%
  8. Molina Health $21 billion 1.7%
  9. Independence Health $21 billion 1.6%

What are the biggest health insurance firms' CEOs up to?

The following CEOs of the 6 largest health insurance companies earn over $15 million a year:

  1. Michael Neidorf of Santen earns $26.4 million
  2. David Cordani Messina earns $19.1 million
  3. David Wichman of UnitedHealth Group earns $18.9 million
  4. Joseph Zubrecki of Molina Healthcare earns $18 million
  5. Human's Bruce Broussard earns $16.7 million
  6. Gayle Boudreau of Anthem earns $15.5 million

Is the Investment in big insurance companies is a very good investment?

Investing in insurance companies may be a safe choice for some individuals. Insurance companies are founded to deal with risks, which can ultimately reduce the risks involved in investing in them. Health insurance has a greater potential for growth than other types of insurance companies, but it is also subject to sudden changes.

Who are the biggest investors in insurance companies?

Investors in insurance companies are mainly and mostly other institutions. As an illustration, UnitedHealth Group (UNH) has 4,124 institutional shareholders who collectively hold more than one billion shares.

What are the largest homeowner insurance companies in the US?

These are the top five biggest homeowner insurance agencies in the USA are State Farm, Allstate, USAA, Liberty Mutual and Farmers. Together, these companies hold more than 45% of the home insurance market share.

What are the largest insurance companies in Canada?

The top five insurance companies in Canada are Manulife Financial Corporation, Great-West Lifeco, Desjardins, Sun Life Financial, and Fairfax Financial. Manulife is the largest insurance company in Canada, employing over 35,000 people and serving more than 30 million customers In the bottom line

The rating of the major insurance companies can be done in several ways. Shares of public companies can be bought to help build a well-diversified portfolio that has exposure to the financial and healthcare sectors. Identifying what types of insurance, a company primarily deals in helps determine which companies are competitive and which are not. By looking at sales data, or premiums collected annually, you can also see how public companies fare against private or mutual companies that make up a large segment of the industry.

Investopedia does not provide investment or financial advice. The information is presented without regard to the investment objectives, risk tolerance or financial circumstances of any specific investor and may not be appropriate for all investors. Future outcomes cannot be predicted based on past performance. Risks associated with investing include potential principal loss.

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