Top 20 largest US insurance companies in 2021

Insurance companies are important players in the American economy, covering risks and covering accident costs. US insurance companies operating domestically and internationally, serving in the areas of life and health insurance, property and casualty insurance, business and commercial insurance, and reinsurance.

The leading American insurance companies are major players in the financial sector and play an important role in the economy through risk management. However, they face fierce competition for market share in the US and abroad and face competition from foreign insurers looking to expand their presence in their domestic market. Other financial firms such as banks and financial services companies also challenge them in their insurance and risk management activities in the financial markets.

While facing fierce competition to provide insurance and risk mitigation products and services to individuals, businesses and institutions, the main threat to insurers is the disruption of their traditional business by insurance technology startups. These new “InsurTech” companies offer people and companies new opportunities to protect, manage and anticipate risks and exposure to various hazards that can hinder the activities of traditional insurance companies. And some of them, among the largest US startups, have already grown into “unicorns”: startups valued at over $ 1 billion.

Nonetheless, insurance companies are still a pillar of the US economy and will remain in that position for the foreseeable future. The US is such a great business area for insurers that they can use their national foothold to expand abroad and conquer new markets. Whether they offer life and health insurance, property and casualty insurance, insurance brokerage services, or reinsurance, insurance companies are in the US to stay and possibly to conquer the rest of the world as well.

List of the 20 largest American insurance companies by market capitalization

To give you a better understanding of the players in America’s financial and insurance sectors, the following details the top twenty insurance companies that make up the S&P 500 index. Each company is detailed with presentations of its sub-industry, activities, market capitalization, a direct link to its website, its logo and its stock symbol.

The insurance companies listed below are ranked by market capitalization in US dollars as of Friday, February 7, 2020. They belong to the sub-sectors of property and casualty insurance, life and health insurance, multi-line insurance, insurance brokers and reinsurance.

Links to each insurance company

To make surfing this long list easier for you, you will find quick anchor links here that will take you straight to the details of the individual companies.

  • Everest Re Group
  • Globe Life
  • Lincoln National
  • WR Berkley
  • Principal Financial Group
  • Loews
  • Cincinnati Financial
  • Arthur J. Gallagher & Co.
  • Hartford Financial
  • Willis Towers Watson
  • The Travelers Companies
  • Prudential Financial
  • Aflac
  • Allstate
  • American International Group
  • MetLife
  • Progressive
  • Aeon
  • Marsh & McLennan
  • Chubb

20. Everest Re Group

everest re logoSub-sector: reinsurance

Everest Re Group is a reinsurance company. It offers reinsurance (around 70% of premiums received), specifically the sale of catastrophe bonds, as well as insurance including property, employee compensation, crop, professional indemnity and accident insurance. Everest Re has its origins until 1973 and is mainly active in the United States. The company also operates in Europe, Latin America and the rest of the world.

Website: everestre.com  – Market Cap: $ 11.408 billion – Stock Symbol: RE

19. Globe Life

globe life logoSub-branch: Life & Health Insurance

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

Website: globelifeinsurance.com  – Market Cap: $ 11.723 Billion – Stock Symbol: GL

18. Lincoln National

lincoln national corporation logoSub-sector: multi-line insurance

Lincoln National Corporation, often abbreviated as LNC, is an insurance and investment management company that markets its services under the Lincoln Financial Group name. LNC dates back to 1905 and operates through subsidiaries that offer pensions, life insurance, old-age provision and group protection.

Website: lfg.com  – Market Cap: $ 11.793 billion – Stock Symbol: LNC

17. WR Berkley

BerkleySub-sector: Real estate & accident insurance

WR Berkley Corporation is a holding and reinsurance company for property and casualty insurance. WR Berkley is headquartered in Greenwich, Connecticut, and is organized in Delaware. He has commercial insurance business in several countries and regions around the world including the UK, continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia. It is also involved in the reinsurance business in the US, UK, Continental Europe, Australia, Asia Pacific and South Africa.

Website: berkley.com  – Market Cap: $ 14.271 billion – Stock Symbol: WRB

16. Principal Financial Group

principal financial group logoSub-branch: Life & Health Insurance

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

Website: principal.com  – Market Cap: $ 15.376 billion – Stock Symbol: PFG

15. Loews

loews corporation logoSub-sector: multi-line insurance

Loews Corporation is a conglomerate with controlling interests in CNA Financial Corporation, Diamond Offshore Drilling, Boardwalk Pipeline Partners, Loews Hotels and Consolidated Container Company. The company operates in the insurance industry primarily through CNA Financial Corporation and its subsidiaries, providing property and casualty insurance to businesses and professionals in the United States, Canada, Europe and Asia.

Website: loews.com  – Market Cap: $ 15.839 Billion – Stock Symbol: L.

14. Cincinnati Financial

cincinnati financial logoSub-sector: Real estate & accident insurance

Cincinnati Financial Corporation is an insurance company primarily engaged in property and casualty insurance. Cincinnati Financial Corporation was founded in 1950 and operates in the fields of insurance, liability insurance, casualty insurance, life insurance and insurance through its specialized subsidiaries. It is also involved in investments and financial assistance to other subsidiaries through the CFC Investment Company and in asset management services with the CinFin Capital Management Company.

Website: cinfin.com  – Market Cap: $ 18.38 Billion – Stock Symbol: CINF

13. Arthur J. Gallagher & Co.

arthur j gallagher co logoSub-sector: insurance broker

Arthur J. Gallagher & Co., Often abbreviated as AJG, is a global insurance broker and risk management company. AJG was founded in 1927 and is headquartered in Rolling Meadows, Illinois. The company has grown into one of the largest insurance brokers in the world and operates through local subsidiaries for insurance brokers in America, Europe, Asia and Oceania.

Website: ajg.com  – Market Cap: $ 19.74 Billion – Stock Symbol: AJG

12. Hartford Financial

the hartford logoSub-sector: Real estate & accident insurance

Hartford Financial Services Group, Inc., better known as The Hartford, is an investment and insurance company. Founded in 1910 and headquartered in Hartford, Connecticut, the company operates property and casualty insurance, group benefits and mutual funds, and sells 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: $ 21.584 Billion – Stock Symbol: HIG

11. Willis Towers Watson

willis towers watson logoSub-sector: insurance broker

Willis Towers Watson is global multinational risk management, insurance broker, and advisory company. Willis Towers Watson dates back to 1828 and is one of the world’s largest insurance brokers, operating in more than 140 countries around the world. Headquartered in London, Great Britain, the company results from the merger between the British company Willis Group Holdings plc and the American company Towers Watson & Co.

Website: willistowerswatson.com  – Market Cap: $ 25.661 billion – Stock Symbol: WLTW]

Read also: Top 30 largest US real estate companies

10. Travelers

travelers logoSub-sector: Real estate & accident insurance

The Travelers Companies, Inc., better known as Travelers, is an insurance company headquartered in New York City specialising in commercial property and casualty insurance. Travellers are one of the largest insurers in the United States, active in the personal, corporate and bond sectors. It has expanded to the UK, Ireland, Singapore, China, Canada and Brazil.

Website: travelers.com  – Market Cap: $ 34.751 billion – Stock Symbol: TRV

9. Prudential Financial

prudential financial logoSub-branch: Life & Health Insurance

Prudential Financial, Inc., through its subsidiaries, provides insurance, investment management, and other financial products and services to individual and institutional clients. In particular, it offers life insurance, annuities, investment funds, pension and pension-related investments, administration and asset management as well as securities brokerage services. Prudential operates in the United States, Asia, Europe and Latin America

Website: prudential.com  – Market Cap: $ 37.754 Billion – Stock Symbol: PRU

8. Aflac

aflac logoSub-branch: Life & Health Insurance

Aflac Inc. is an insurance company specializing in supplementary insurance. Aflac was founded in 1955 and is headquartered in Columbus, Georgia. The company offers insurance and payroll insurance for accidents or illnesses. Aflac works with licensed sales representatives in the US and sales agencies in Japan.

Website: aflac.com  – Market Cap: $ 38.469 billion – Stock Symbol: AFL

7. Allstate

allstate logoSub-sector: Real estate & accident insurance

Allstate Corporation is an insurance company headquartered in Northfield Township, Illinois. Allstate Corporation began in 1931 and is now the largest publicly traded property and casualty insurance company in the United States. It offers custom auto and property insurance and commercial and commercial insurance and a range of related insurance products. Allstate operates 19 companies in the US, UK, Canada and India.

Website: allstate.com  – Market Cap: $ 39.667 Billion – Stock Symbol: ALL

6. American International Group

american international group logoSub-sector: Real estate & accident insurance

American International Group, Inc., better known as AIG, is a multinational finance and insurance company headquartered in New York City. It operates in the general insurance, life and retirement sectors and is a stand-alone technology-based subsidiary. It operates in more than 80 countries and jurisdictions.

Website: aig.com  – Market Cap: $ 46.508 Billion – Stock Symbol: AIG

5. MetLife

metlife logoSub-branch: Life & Health Insurance

MetLife, Inc., through its subsidiary Metropolitan Life Insurance Company, is one of the world’s largest providers of insurance, retirement and employee benefit programs. Founded in 1968, MetLife operates in the home, auto and life insurance, commercial mortgage and commercial mortgage-backed securities and government debt sectors. The company operates in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East.

Website: metlife.com  – Market Cap: $ 47.211 Billion – Stock Symbol: MET

4. Progressive

progressive corporation logoSub-sector: Real estate & accident insurance

Progressive Corporation, more simply known as Progressive, is an insurance company that specializes in auto insurance in America. Progressive was founded in 1937 and is headquartered in Mayfield Village, Ohio. The company offers insurance for motorcycles, boats, mobile homes and commercial vehicles, and home contents insurance. It has expanded its range of auto insurance in Australia.

Website: progressive.com  – Market Cap: $ 48.676 billion – Stock Symbol: PGR

3. Aon

aon company logoSub-sector: insurance broker

Aon plc is a global professional services company providing risk, retirement and healthcare solutions headquartered in London, United Kingdom. Founded in 1982 through the merger of Ryan Insurance Group with Combined Insurance Company of America, Aon is particularly active in the commercial risk and reinsurance brokerage industry. The company is also active in the business process outsourcing industry, as well as real estate investment and management.

Website: aon.com  – Market Cap: $ 53.706 Billion – Stock Symbol: AON

2. Marsh & McLennan

marsh mclennan companies logoSub-sector: insurance broker

Marsh & McLennan Companies, Inc. is a global professional services company active in the insurance brokerage, risk management, reinsurance services, talent management, investment advisory and business advisory sectors. Marsh & has its origins in 1905 and is headquartered in New York City. McLennan is active in the insurance industry through its subsidiaries Marsh, Guy Carpenter and Jardine Lloyd Thompson, as well as advising the Mercer and Oliver Wyman Group.

Website: mmc.com  – Market Cap: $ 58.686 Billion – Stock Symbol: MMC

1. Chubb

chubb limited logoSub-sector: Real estate & accident insurance

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

Website: new.chiubb.com  – Market Cap: $ 72.611 Billion – Stock Symbol: CB