Top 20 largest US insurance companies 2019

Top US insurance companies

Insurance companies are key actors of the American economy, hedging risks and covering accidents. Present throughout the country and abroad, US insurance companies are involved in life and health insurance, property and casualty insurance, business and commercial insurance, and reinsurance.

The top American insurance companies are key actors of the financial sector and they play a major role in the economy through the management of risks. However, they are engaged in a fierce competition against each other for market share in the US and abroad, and face competition from foreign insurers looking to expand their foothold in their domestic market. Other financial companies, such as banks and financial services companies, also challenge them in their insurance and risk management activities in financial markets.

Though they face stiff competition to provide insurance and risks mitigation products and services to individuals, businesses, and institutions, the most important threat for insurers comes from the disruption of their traditional business by insurance tech startups. These new “InsurTech” companies create new ways for people and companies to hedge, manage and anticipate risks and exposure to various hazards, which can impede the activities of traditional insurance companies.

Nevertheless, insurance companies are still a pillar of the US economy and they will remain in this position for the foreseeable future. The US is such a great business arena for insurers to prosper that they can actually use their national foothold to expand abroad and conquer new markets. Whether they provide life and health insurance, property and casualty insurance, insurance brokers or reinsurance specialists, insurance companies are in the US to stay, and potentially, also to conquer the rest of the world.

List of the top 20 largest American insurance companies by market capitalization

To give you more perspective on the actors of the American financial sector and insurance industry, details about the twenty largest insurance companies included in the S&P 500 index have been listed hereafter. Each company is detailed with presentations of its sub-industry, activities, market capitalization, a direct link to its website, logo and stock symbol.

For more information on other leading American companies, check our other posts:

The insurance companies listed hereafter are ranked by market capitalization in United States Dollars, as of effective close on Friday, September 27, 2019. They are defined as belonging to the sub-industries of property and casualty insurance, life and health insurance, multi-line insurance, insurance brokers and reinsurance.

For the complete list of the top 500 US companies that constitute the S&P 500 index, and much more information on each company, check our Top 500 US Companies Spreadsheet.

Quick links to the top 20 insurance companies from the United States

To facilitate your browsing in this long list, here are quick links to go directly to the details of any of the top 20 American insurance companies.

20. Assurant

Assurant logoSub-Industry: Multi-line Insurance

Assurant, Inc. is a company involved in risk management products and services. It provides a range of specialty, niche-market insurance products, for the property, casualty, extended device protection, and pre-need insurance sectors. Spun off from the Dutch and Belgian financial-services company Fortis Insurance N.V., Assurant was created and had its initial public offering in 2004.

Website: assurant.com – Market Cap.: $ 7.67 Billion – Stock symbol: AIZ

19. Globe Life

Globe Life logoSub-Industry: Life & Health Insurance

Globe Life is a financial services holding company. Providing services through its wholly-owned subsidiaries, Globe Life offers life insurance, annuity, and supplemental health insurance products. It operates primarily in the states of Texas, New York, and Oklahoma.

Website: globelifeinsurance.com – Market Cap.: $ 10.496 Billion – Stock symbol: GL

18. Everest Re Group

Everest Re Group logoSub-Industry: Reinsurance

Everest Re Group is a reinsurance company. It provides reinsurance (around 70% of premiums received), notably selling catastrophe bonds, and insurance including property, worker’s compensation, crop, professional liability, and accident insurance. Tracing its origins to 1973, Everest Re is primarily engaged in the United States and also operates in Europe, Latin America, and the rest of the world.

Website: everestre.com – Market Cap.: $ 10.836 Billion – Stock symbol: RE

17. Lincoln National

Lincoln National logoSub-Industry: Multi-line Insurance

Lincoln National Corporation, often abbreviated LNC, is an insurance and investment management company marketing its services under the name Lincoln Financial Group. Tracing its origins to 1905, LNC operates through subsidiary companies, providing annuities, life insurance, retirement plan services, and group protection.

Website: lfg.com – Market Cap.: $ 12.194 Billion – Stock symbol: LNC

16. Loews

Loews logoSub-Industry: Multi-line Insurance

Loews Corporation is a conglomerate company with majority-stake holdings in CNA Financial Corporation, Diamond Offshore Drilling, Boardwalk Pipeline Partners, Loews Hotels and Consolidated Container Company. Primarily engaged in insurance through CNA Financial Corporation and its subsidiaries, it provides property and casualty insurance for businesses and professionals in the U.S., Canada, Europe, and Asia.

Website: loews.com – Market Cap.: $ 15.576 Billion – Stock symbol: L

15. Principal Financial Group

Principal Financial Group logoSub-Industry: Life & Health Insurance

The Principal Financial Group is a financial investment management and insurance company, headquartered in Des Moines, Iowa. It operates across four lines of business: retirement and income solutions, principal global investors, principal international, and US insurance solutions.

Website: principal.com – Market Cap.: $ 15.995 Billion – Stock symbol: PFG

14. Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. logoSub-Industry: Insurance Brokers

Arthur J. Gallagher & Co., often abbreviated AJG, is a global insurance brokerage and risk management services company. Founded in 1927 and headquartered in Rolling Meadows, Illinois, AJG has become one of the largest insurance brokers in the world, operating in the Americas, Europe, Asia, and Oceania through local insurance brokering subsidiaries.

Website: ajg.com – Market Cap.: $ 16.525 Billion – Stock symbol: AJG

13. Cincinnati Financial

Cincinnati Financial logoSub-Industry: Property & Casualty Insurance

Cincinnati Financial Corporation is an insurance company primarily involved in property and casualty insurance. Founded in 1950, the Cincinnati Financial Corporation operates through its specialized subsidiaries in insurance, indemnity, casualty, life insurance and underwriting. It is also involved in investments and financial support to other subsidiaries through the CFC Investment Company and asset management services with the CinFin Capital Management Company.

Website: cinfin.com – Market Cap.: $ 18.908 Billion – Stock symbol: CINF

12. Hartford Financial

Hartford Financial logoSub-Industry: Property & Casualty Insurance

The Hartford Financial Services Group, Inc., more simply known as The Hartford, is an investment and insurance company. Founded in 1910 and headquartered in Hartford, Connecticut, the company conducts property and casualty operations, group benefits and mutual funds, selling its products and services primarily through a network of agents and brokers. It is also involved in auto and home insurance.

Website: thehartford.com – Market Cap.: $ 21.858 Billion – Stock symbol: HIG

11. Willis Towers Watson

Willis Towers Watson logoSub-Industry: Insurance Brokers

Willis Towers Watson is a global multinational risk management, insurance brokerage and advisory company. Tracing its roots to 1828, Willis Towers Watson has become one of the world’s largest insurance broker in the world, operating in more than 140 countries around the world. Headquartered in London, UK, it is the result of the merger between the British company, Willis Group Holdings plc, and the American company, Towers Watson & Co.

Website: willistowerswatson.com – Market Cap.: $ 24.857 Billion – Stock symbol: WLTW

10. Allstate

Allstate logoSub-Industry: Property & Casualty Insurance

The Allstate Corporation is an insurance company headquartered in Northfield Township, Illinois. Tracing its origins to 1931, Allstate Corporation has grown to become the largest publicly-traded property-casualty insurance in the US, offering individual auto and property insurance together with business and commercial insurance as well as an array of associated insurance products. Allstate operates 19 companies in the United States, United Kingdom, Canada, and India.

Website: allstate.com – Market Cap.: $ 35.497 Billion – Stock symbol: ALL

9. Prudential Financial

Prudential Financial logoSub-Industry: Life & Health Insurance

Prudential Financial, Inc. is engaged in insurance, investment management, and other financial products and services to individual and institutional customers through its subsidiaries. It notably provides life insurance, annuities, mutual funds, pension- and retirement-related investments, administration and asset management, securities brokerage services. Prudential operates in the United States, Asia, Europe, and Latin America

Website: prudential.com – Market Cap.: $ 36.244 Billion – Stock symbol: PRU

8. Aflac

Aflac logoSub-Industry: Life & Health Insurance

Aflac Inc. is an insurance company, especially involved in supplemental insurance. Founded in 1955 and headquartered in Columbus, Georgia, Aflac provides insurance and payroll deduction insurance coverage for accidents or illnesses. Aflac operates with licensed sales associates in the United States and sales agencies in Japan.

Website: aflac.com – Market Cap.: $ 38.418 Billion – Stock symbol: AFL

7. Travelers

Travelers logoSub-Industry: Property & Casualty Insurance

The Travelers Companies, Inc., better known as Travelers, is an insurance company headquartered in New York City, particularly involved in commercial property-casualty insurance. One of the largest insurers in the US, Travelers operates in personal insurance, business insurance, and bonds. It has expanded in the United Kingdom, Ireland, Singapore, China, Canada, and Brazil.

Website: travelers.com – Market Cap.: $ 38.537 Billion – Stock symbol: TRV

6. MetLife

MetLife logoSub-Industry: Life & Health Insurance

MetLife, Inc. is among the largest global providers of insurance, annuities, and employee benefit programs through its subsidiary Metropolitan Life Insurance Company. Founded in 1968, MetLife operates in home, car and life insurance, commercial mortgages and securities backed by commercial mortgages, and sovereign debt. It conducts business throughout the United States, Japan, Latin America, Asia’s Pacific region, Europe, and the Middle East.

Website: metlife.com – Market Cap.: $ 44.35 Billion – Stock symbol: MET

5. Progressive

Progressive logoSub-Industry: Property & Casualty Insurance

The Progressive Corporation, more simply known as Progressive, is an insurance company, especially involved in car insurance in America. Founded in 1937 and headquartered in Mayfield Village, Ohio, Progressive offers insurance for motorcycles, boats, RVs and commercial vehicles, as well as home insurance. It has expanded its offer of car insurance in Australia.

Website: progressive.com – Market Cap.: $ 45.076 Billion – Stock symbol: PGR

4. Aon

Aon logoSub-Industry: Insurance Brokers

Aon plc is a global professional services company providing risk, retirement and health solutions, headquartered in London, UK. Created in 1982 with the merger of Ryan Insurance Group with Combined Insurance Company of America, Aon is particularly involved in the commercial risk and reinsurance brokerage industry. It is also operating in the business process outsourcing industry and property investment and management.

Website: aon.com – Market Cap.: $ 45.628 Billion – Stock symbol: AON

3. American International Group

American International Group logoSub-Industry: Property & Casualty Insurance

American International Group, Inc., more commonly known as AIG, is a multinational finance and insurance corporation headquartered in New York City. It is engaged in general insurance, life and retirement, and a standalone technology-enabled subsidiary. It operates in more than 80 countries and jurisdictions.

Website: aig.com – Market Cap.: $ 48.854 Billion – Stock symbol: AIG

2. Marsh & McLennan

Marsh & McLennan logoSub-Industry: Insurance Brokers

Marsh & McLennan Companies, Inc. is a global professional services company operating in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. Tracing its origins to 1905 and headquartered in New York City, Marsh & McLennan operates in insurance through its subsidiaries, Marsh, Guy Carpenter and Jardine Lloyd Thompson, and in consulting with Mercer and Oliver Wyman Group.

Website: mmc.com – Market Cap.: $ 50.51 Billion – Stock symbol: MMC

1. Chubb

Chubb logoSub-Industry: Property & Casualty Insurance

Chubb Limited is the parent company of Chubb, a global provider of insurance products in commercial and personal property and casualty, accident and health, reinsurance, and life insurance to multinational corporations and local businesses, individuals, and insurers seeking reinsurance coverage. Tracing its origins to 1882, Chubb is headquartered in Zurich, Switzerland, and it operates in 54 countries and territories.

Website: new.chubb.com – Market Cap.: $ 73.152 Billion – Stock symbol: CB

Here are the 20 largest American insurance companies. Do you think they are worth their market capitalization? Do they provide a valuable and convenient service? Do they have too much economic power… and maybe political power too?

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