Largest Insurance Companies
Bizvibe Blog

Insurance companies take care of their clients’ risks, which can be anything from small businesses to large government agencies. With so many insurance companies to choose from, it might be hard to feel sure that you’ll be paid if something goes wrong. This article talks about the largest insurance companies in the US.


With the help of insurance plans, you can get protection against a wide range of risks. We have put together a list of the top 10 insurance companies in the world for you to look over:

#1. Allianz

Allianz comes in second when the value of its assets is compared to those of other insurance companies around the world. The company’s ranking has dropped a lot since last year, but its sales have gone up by over 7% to almost $130 billion and its profits have stayed the same. Allianz’s property and casualty, life and health, credit and travel insurance, and asset management services have helped more than 126 million people in more than 70 countries.

#2. AXA Company

There was a big change in the insurance market around the world, and AXA moved up three spots to fourth place. The net income and total assets of the French company put it in the top five of all insurance companies. In 2018, when AXA bought the XL Group, it became the world’s biggest commercial property and casualty insurer. The huge insurance company is still working to stop global warming while taking advantage of its rapid growth in strategic niches and promising areas.

#3. Ping an Insurance Group

Even though it had more problems than its American and European competitors, Ping An stayed the best insurance company in the Global 2000. Forbes says that the company’s net profit dropped by 29% in 2021, to $15.7 billion, because of a $6.4 billion write-down on investments in China Fortune Land Development, one of many Chinese property developers with a lot of debt that went bankrupt last year. According to its annual report for 2021, the insurance company had invested $32 billion in real estate assets by the end of 2020. 

#4. The United Health Group

United Health Group was at the top of the list of insurance companies in the U.S. The life and health insurance specialist was also the seventh-highest revenue producer among the Global 2000 companies and the seventh-highest revenue producer overall. Forbes says that UnitedHealth shares have gone up by 25% since October 2021. In March, they finished a deal to buy home healthcare company LHC Group for $5.4 billion.

#5. China Life

Even though net sales and earnings went up from $113.8 billion and $7.3 billion in 2021, the market value of China Life fell by about 25%, from $57.3 billion to $49.8 billion. In the meantime, the total value of all assets went up by 18%, or $108 billion, to $651 billion. At the end of last year, China Life had over 323 million individual and group life insurance policies, annuity contracts, and long-term health insurance policies in effect.

#6. MetLife

MetLife’s growth has stayed the same from the year before, even though the company is falling in the rankings. About 5% more money came into an insurance company, and earnings went up by more than 20%. Insurance for life, health, dental care, accidents, and credit are all offered by the company. It has more than 100 million clients in 40 different countries. It also has products for savings, endowments, and retirement.

#7. Zurich Insurance

Zurich’s sales were $58.4 billion in 2020, and its profits were $3.8 billion. This was a 19% and 37% increase in sales and profits, respectively. The insurance giant’s market value went up from $61.7 billion, which is a little more than a 12 percent rise. Zurich offers a number of P&C products and services, including life insurance. It works with a wide range of clients, from people who run their own businesses on their own to Fortune 500 companies.

#8. Cigna

Cigna, which sells health insurance, has the sixth-largest market value of the companies on this list. Still, the company’s overall ranking dropped 24 spots, dropping it from fourth place among the top insurance companies the year before. Members of an organization can choose from a number of options for medical, dental, vision, and Medicare insurance.

#9. AIG

American International Group (AIG) jumped 349 spots in the global ranking to reach the 90th spot and enter the top 10 for the industry. The insurance company made 19% more money, going from $43.7 billion to $51.1 billion. Also, it had a net income for shareholders of $9.4 billion, which was up from a net loss of $6.0 billion in 2020.

#10. AIA Group

The largest pan-Asian life insurance group fell 21 spots in the global rankings, but it was still the third largest insurance company by market value, after UnitedHealth and Ping An. The company’s net profit also went up by more than 27%, from $5.8 billion the year before to $7.4 billion in 2021.

#11. Berkshire Hathaway 

Berkshire Hathaway Inc. is a multinational conglomerate and one of the most well-known insurance companies in the United States. It also has a lot of assets in the transportation, utilities, energy, manufacturing, service, and retail industries.

Some of Berkshire’s subsidiaries that deal with primary and reinsurance of property and casualty risks are GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, General Re, and National Indemnity Corporation.

#12. Chubb Ltd. Company (CB)

In the US, Chubb Ltd. is the market leader for commercial lines insurance, and the company does business in 54 different countries and territories around the world. Chubb has a wide range of insurance plans, including ones for business and personal property and casualties, accidents, extra health care, and life.

#13. The Progress Company (PGR)

Progressive Inc. has grown since it was founded in 1937 to become a major player in the auto and home insurance markets. Both business insurance and personal insurance, as well as financial services offered by the company, can be bundled together.

#14. Plc Prudential (PUK)

Prudential PLC, which is based in London, offers a range of financial services, such as insurance and investments. It offers financial services like mortgages, retirement plans, equity plans, and life, health, property, and casualty insurance. Prudential has customers in all of the major international markets.

Largest Insurance Companies in the US

When it comes to the number of premiums paid, the United States is way ahead of every other country. Here are the largest insurance companies in the United States:

#1. Centene Company

Centene Corporation (NYSE: CNC) is a middleman between private insurance companies and public health care systems. However, Centene Corporation (NYSE: CNC) works with Tricare, Medicare, the health insurance marketplace set up by the Affordable Care Act, and inmate health care, among other things. In 2021, the CEO of Centene Corporation (NYSE: CNC) made about $25 million, making him the highest-paid healthcare executive.

#2. TCCI – The Travelers Companies, Inc.

The Travelers Companies, Inc. (NYSE: TRV), which is second to Allstate, is the biggest commercial property and casualty insurer in the United States. The Travelers Companies, Inc. (NYSE: TRV), which is one of the top 10 personal insurance companies sold by independent agents, is a tough competitor. The Travelers Companies, Inc. (NYSE: TRV) has businesses in all 50 states, as well as Singapore, Brazil, China, Ireland, Canada, the United Kingdom, and the United States.

#3. Liberty Mutual Insurance Group

Liberty Mutual Insurance Group is one of the biggest property and liability insurers in the United States. It offers a wide range of policies to its customers.

#4. TIAA

The Teachers Insurance and Annuity Association of America’s College Retirement Equities Fund helps people with their money and insurance. It has almost 5 million members, and about 15,000 organizations use the services it offers.

#5. USAA

United Services Automobile Association (USAA) is a group with at least 13 million members who can trade insurance policies with each other for free. The company was started by 25 U.S. Army officers who were either still serving or had left the army.

#6. The Company Humana Inc.

The main office of the huge insurance company Humana Inc. (NYSE: HUM) is in Kentucky. Humana Inc. (NYSE: HUM) sued 37 defendants in 2019, saying that the companies had illegally worked together to set the prices of generic drugs. Humana Inc. (NYSE: HUM) is one of the top 100 companies in the United States that get government contracts.

#7. Allstate, Inc.

Allstate Inc. (NYSE: ALL), which is based in Illinois and has more than 45,000 employees, is a large insurance company that focuses on auto insurance. Allstate Corp. (NYSE: ALL), which has been around since 1931, used to be a part of Sears, Roebuck & Co. It was split up in 1993 and then went public. Allstate Corp. (NYSE: ALL) recently said that it would pay $4.0 billion to buy National General Insurance, a property and liability insurer with more than 42,000 independent agents.

#8. The Nationwide Mutual Insurance Co.

Nationwide Mutual Insurance Company was founded 95 years ago, and based on its assets, it is the thirteenth largest insurance company in the United States. Nationwide Mutual Insurance Company has offices all over the world and employs more than 34,000 people. The business really shines in the mutual insurance market.

#9. America’s Reinsurance Group, Inc. 

Reinsurance Group of America Inc. (NYSE: RGA), which has been in business since 1973, is the 24th largest insurance company in the United States in terms of total assets. The company has become a global powerhouse, with over $3.5 trillion in life reinsurance in force and more than 2,500 employees. Reinsurance Group of America Inc (NYSE: RGA) says it is the only company in the world that offers life and health reinsurance. 

Also, Reinsurance Group of America Inc (NYSE: RGA) comes in at number 207 on the 2021 Fortune 500 list of the top American companies by revenue.

#10. The Genworth Financial Company

Genworth Financial Corp (NYSE: GNW) began in 1871 as The Life Insurance Company of Virginia. In 1998, it changed its name to Genworth Financial Corp. Over time, the company went through a number of mergers and acquisitions (M&A). The business was sold to GE Capital in 1996, and in 2004, General Electric Company (NYSE: GE) merged several of its insurance subsidiaries to form Genworth Financial Inc. (NYSE: GNW). 

Genworth Financial Inc (NYSE: GNW) has about 3,000 employees who split their time between the company’s three main business lines (Retirement and Protection, International, and U.S. Mortgage Insurance).

Who Is the Largest Insurance Company in the World?

Allianz SE, a big German insurance company, has the most non-banking assets of any company in the world.

Who Is the Top 10 Insurance Company?

There are;

  • Allianz.
  • AXA.
  • Ping An Insurance.
  • Prudential Financial.
  • Metlife.
  • Japan Post Insurance.
  • Berkshire Hathaway.
  • Nippon Life Insurance Company (Nissay).
  • Prudential plc.

Who Is the Largest Insurance Provider in the US?

Health insurers get money from premiums, the number of policies they sell, the services they sell, and the money they make from their operating divisions. So, UnitedHealthcare has the largest number of members and the largest share of the market.

Is AIG Still the Biggest Insurance Company?

AIG is the biggest company in the United States that sells business and industrial insurance. Insurance, investments, retirement plans, mortgage protection, and more are all available from AIG.

Who Is the Richest Insurance Company?

Under the Berkshire, Hathaway umbrella is insurance and reinsurance companies like GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, General Re, and National Indemnity Company.

Who Is the Highest-Paid Insurance?

There are;

  • Manager of Insurance and Financial Services for Automobiles.
  • Head of Policies for Insurance.
  • Statistician in the health care field.
  • In charge of handling insurance claims.
  • Manager of Insurance for Administrative Tasks.

Can You Become a Millionaire in Insurance?

Without a doubt, this is by far the most common way to get a million dollars. Most people have more than $1 million when they finally stop working. Still, like any other job, you need to practice before you can get good at it and start making real money. Top agents can make anywhere from $200,000 to $2 million a year.


There are many places to get insurance for medical, auto, life, and many other things. Understanding the finest insurance providers means you can put your trust in them and make an informed decision about which one is right for you.

Largest Insurance Companies FAQs

What do insurance companies actually do?

A business that, in exchange for receiving premium payments, designs and underwrites insurance policies. Mutual (owned by a group of policyholders) and proprietary (owned by shareholders) companies exist. Insurance company, service provider, etc.

What does the word "insurance" really mean?

A policy of insurance is a contract in which one party (the insured) protects another party (the insured party) from losses caused by a set of risks that have been agreed upon. The insured or their loved ones are better safeguarded from economic disaster. There are a wide variety of insurance plans available. The four most prevalent types of insurance are health, homeowners, auto, and life.

Which insurance company is number one?

State Farm is the best auto insurer since it has a 16% market share and is the largest auto insurer in the United States.

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