USA Top 10 Best Insurance Companies

by FinAdmin

The size of insurance businesses may be ranked in a variety of ways. Market capitalization, or a company’s valuation on the stock market, can be used to gauge a business, as can sales metrics like the amount of policies issued or net premiums written in a given year. Here, we look at the top 10 insurance providers in terms of sales, market share, and market capitalization.

USA Top 10 Best Insurance Companies

Note:

  1. Despite not often being as showy as investment banks or hedge funds, insurance firms are significant actors in the global financial system.
  2. From health to life to property & casualty, insurance firms exist in a variety of sizes and focus on various coverage lines.
  3. The value of a company’s outstanding shares is known as market capitalization, often known as market cap.
  4. There are several insurance businesses that are held jointly by the policyholders.
  5. It’s crucial to classify insurance firms based on the products they offer when ranking them.

Insurance companies with the highest market capitalization

The number of outstanding shares multiplied by the current share price yields the market capitalization, often known as market cap, which represents the overall worth of a company’s stock. It is a fast method of figuring out what a company is worth to investors.

Large market capitalization companies are often well-established, cautious investments. They most likely grow steadily and present the least level of risk. Mid-cap corporations are well-established yet have significant room for development. Finally, small-cap firms are frequently young businesses with significant development potential. Because they are more susceptible to economic downturns than the more seasoned big and mid-cap corporations, investing in these businesses carries the most risk.

Publicly Traded Non-health Insurance Companies

Company NameMarket Capitalization
Berkshire Hathaway (U.S.)$714 billion
Ping An Insurance (China)$141 billion
AIA Group (Hong Kong)$123 billion
China Life Insurance (China)$106 billion
Allianz (Germany)$89 billion
Cigna (US)$76 billion
Zurich Insurance (Switzerland)$67 billion
AXA (France)$65 billion
Humana (U.S.)$55 billion
Munich (Germany)$39 billion
Market cap data as of March 1, 2022. Source: Yahoo! Finance

Publicly Traded Health Insurance and Managed Health Care Companies

Company Name                                  Market Capitalization
United Healthcare (UNH)$448 billion
CVS (CVS)$136 billion
Anthem (ANTM)$109 billion
Cigna (CI)$76 billion
Humana (HUM)$55 billion
Centene Corporation (CNC)$48 billion
Molina Healthcare (MOH)$18 billion
Bright Health Group (BHG)$2 billion
MultiPlan Corporation (MPLN)$2 billion
Alignment Healthcare (ALHC)$1.6 billion
Market cap data as of March 1, 2022. Source: Yahoo! Finance
Insurance companies by sales and product line that are the biggest
When comparing the biggest insurance firms, it helps to make a distinction between the lines of insurance that are being taken into account. Since some of the biggest insurance providers in the US are not listed on a public exchange, it is useful to use sales data to estimate their market worth.
Real Estate & Casualty
Property and casualty insurers create policies that protect things like land, houses, automobiles, and other vehicles. In order to cover the cost of litigation or cover medical expenses brought on by such accidents, they also draft policies that deal with liabilities that may be incurred by negligence or carelessness in relation to such properties.
Company Net Premiums Written
State Farm Group$66.2 billion
Berkshire Hathaway (BRK.A)$46.4 billion
Progressive Insurance Group (PGR)$41.7 billion
Allstate Insurance Group (ALL)$39.2 billion
Liberty Mutual$36.2 billion
Travelers Group (TRV)$28.8 billion
USAA Group$24.6 billion
Chubb (CB)$24.2 billion
Farmers Insurance Group$20.1 billion
Nationwide$18.5 billion
The Life Insurance Industry
When an insured person dies, life insurance firms guarantee to pay out a lump sum payout. Having strong financial standing guarantees that these businesses can fulfill all of their responsibilities while still turning a profit, even if actuarial science has developed mortality tables to precisely forecast the future liability of policies to be paid.
Direct premium written can be used to rank life insurance firms in the United States (the number of new policies written directly and not re-insured). For 2020:3
 Company Total Direct Premium Market Share
New York Life Grp$11.7 billion6.75%
Northwestern Mutual$11.3 billion6.52%
Metropolitan Group (MET)$10.5 billion6.05%
Prudential of America (PRU)$10.1 billion5.80%
Lincoln National$8.4 billion4.83%
MassMutual$7.9 billion4.57%
State Farm$5.0 billion2.87%
Aegon (AEG)$4.9 billion2.80%
John Hancock$4.7 billion2.73%
Minnesota Mutual Grp$4.7 billion2.70%
Healthcare Insurance Providers
Health insurance providers provide plans to pay all or a portion of the policyholder’s medical and health expenses. Individually or via an employer, insurance can be obtained. Technically, the Medicare program, Social Security, and Medicaid programs, which are each managed by a different state, make up the bulk of the American healthcare system.
 
According to the 2020 report from the National Association of Insurance Commissioners (NAIC), the top non-government-sponsored U.S. health insurance providers were:
CompanyTotal Direct PremiumMarket Share
UnitedHealth Group (UNH)$177 billion14.1%
Kaiser$104 billion8.3%
Anthem$77 billion6.2%
Centene Corp.$75 billion6.0%
Humana$74 billion5.9%
CVS Healthcare (CVS)$69 billion5.5%
CIGNA Health$32 billion2.5%
Molina Healthcare$21 billion1.7%
Independence Health$21 billion1.6%
What Are Canada’s Biggest Insurance Companies?
Manulife Financial Corporation, Great-West Lifeco, Desjardins, Sun Life Financial, and Fairfax Financial are the top five insurance providers in Canada. With over 35,000 workers and over 30 million clients served, Manulife is Canada’s largest insurance provider.

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