Insurance companies are a major part of the US economy, protecting against risks and covering the costs of accidents. Present throughout the country and abroad, American insurance companies are involved in life and health insurance, property and casualty insurance, business and commercial insurance, and reinsurance.
The top US insurance companies are important parts of the financial sector and they play a major role in the economy through managing risks. However, they are engaged in fierce competition against each other for market share in the US and abroad, and are facing competition from foreign insurance companies looking to gain a 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 the financial markets.
While they face stiff competition for providing insurance and risk mitigation products and services to individuals, businesses and institutions, the most significant threat to insurance companies comes from the disruption of their traditional business by insurance tech startups. These new “insurtech” companies create new ways for people and companies to manage and anticipate risk, and various hazards, that can disrupt the activities of traditional insurers. And some of them, among the biggest US startups, have already become “unicorns”: startups with valuations above $1 billion.
Nevertheless, insurance companies are still a pillar of the US economy and will remain in this position for the foreseeable future. America is such a big business area for insurers to prosper that they can use their national foothold to expand overseas and conquer new markets. Whether they provide life and health insurance, property and casualty insurance, insurance brokerage services, or reinsurance, insurance companies are here to stay in America, and potentially, to conquer the rest of the world as well.
For more information on the largest U.S. companies, download our S&P 500 Companies Excel file containing a complete list of the 500 largest publicly listed companies in the U.S., as well as comprehensive business, market, financial statements on each company. and digital information. For even more data on the largest US companies, download our Excel files on Russell 1000 companies, Russell 2000 companies, or Russell 3000 companies.
List of the top 20 largest US insurance companies by market capitalization. To give you more perspective on the actors of the US financial sector and the insurance industry, the details of the twenty largest insurance companies headquartered in the US are listed hereafter. Each company is detailed with presentations of its industry, activities, market capitalization, a direct link to its website, logo and stock symbol.
This is followed by listed insurance companies ranked by market capitalization in United States dollars, effective Friday, January 29, 2021. They are defined as belonging to the industries of property and casualty insurance, life and health insurance, multi-line insurance. , insurance brokers, and reinsurance.
Note that if you are searching for information on investing in the stocks of these companies, make sure you know what you are getting into as your investment will be subject to significant risks as stock prices evolve. To learn more about investing in the stock market and managing your portfolio, check out our post on the best online courses on stock investing and trading.
- Marsh and McLennan
Marsh and McLennan Logo Industry: Insurance Brokers
Marsh & McLennan Companies, Inc. is a global professional services company dealing in insurance brokerage, risk management, reinsurance services, talent management, investment advisory and management consultancy. Originating in 1905 and headquartered in New York City, Marsh & McLennan deals in insurance through its subsidiaries, Marsh, Guy Carpenter, and Jardin Lloyd Thompson, and in consultation with the Mercer and Oliver Wyman Group.
Website: mmc.com – Market Cap.: $55.7 billion – Stock Ticker: MMC
Progressive Logo Industry: Property & Casualty Insurance
Progressive Corporation, more simply known as Progressive, is an insurance company, specifically involved in car insurance in the US. 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 offering of car insurance in Australia.
Website: Progressive.com – Market Cap.: $51 billion – Stock Ticker: PGR
MetLife Logo Industry: Life Insurance
MetLife, Inc. Through its subsidiary Metropolitan Life Insurance Company, is one of the largest global providers of insurance, annuities and employee benefit programs. Founded in 1968, MetLife deals in home, car and life insurance, commercial mortgages and securities backed by commercial mortgages, and sovereign debt. It does business throughout the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East.
Website: metlife.com – Market cap: $43.3 billion – Stock ticker: MET
Travelers Logo Industry: Property and Casualty Insurance
Travelers Company, Inc., formerly known as Travelers, is an insurance company headquartered in New York City, specifically involved in commercial property-casualty insurance. One of the largest insurers in the US, Travelers deals in personal insurance, business insurance and bonds. It has expanded to the United Kingdom, Ireland, Singapore, China, Canada and Brazil.
Website: Travelers.com – Market Cap.: $34.4 billion – Stock Ticker: TRV
Allstate Logoindustry: Property and Casualty Insurance
Allstate Corporation is an insurance company headquartered in Northfield Township, Illinois. Tracing its origins in 1931, Allstate Corporation has grown to become the largest publicly traded property-casualty insurance company in America, offering business and commercial insurance as well as personal auto and property with a range of associated insurance products. Offers insurance. Allstate operates 19 companies in the United States, United Kingdom, Canada and India.
Website: allstate.com – Market Cap.: $32.6 billion – Stock Ticker: ALL