In case you’re an investor contemplating including insurance coverage companies to your portfolio, then you definately’ve come to the precise place. In case you’re a curious shopper or insurance coverage agent on the lookout for a gentle place to get insurance coverage or work, you might have additionally arrived on the proper place. Right here, we’ll rank the ten greatest publicly traded insurers within the nation based mostly on market cap. Learn on and discover out that are the biggest insurance coverage firms within the US.
Headquarters location: Minnetonka, Minnesota
Market capitalization: $443.30 billion
Underwriting experience: Medical insurance
The most important insurance coverage firm within the US based mostly on market cap, UnitedHealth Group attracts on its sturdy manpower pool of 85,000 physicians and nurses to ship medical and dental advantages to its 7.5 million shoppers throughout 150 international locations. The medical health insurance large does this by way of its two enterprise items, specifically:
UnitedHealthcare
By way of its international community of 6,200 hospitals and over 1.5 million medical and healthcare professionals, UnitedHealthcare – the group’s insurance coverage enterprise – presents shoppers a spread of healthcare coverages and providers. These embody:
- UnitedHealthcare Medical Merchandise: Gives inexpensive protection by way of the group’s huge community of hospitals and medical professionals.
- Oxford Well being: Offers shoppers in New York, New Jersey, and Connecticut entry to inexpensive healthcare merchandise.
- UnitedHealth Wellness: The corporate’s suite of wellness packages and providers.
- Digital Visits: Permits shoppers to entry healthcare providers utilizing cell gadgets.
- On-line Companies: Offers clients entry to easy-to-use on-line instruments by way of the myuhc.com web site.
- Enterprise Journey Insurance coverage: The agency’s collection of medical, journey, and private help providers, which will be accessed by cell staff and their dependents.
Optum
Optum is UnitedHealth Group’s expertise unit providing clients info and tech-enabled providers by way of its three platforms, specifically:
- Optum Well being: Gives medical and healthcare providers to greater than 102 million shoppers.
- Optum Perception: Gives analysis, analytics, and consulting providers to medical professionals, governments, and life sciences companies.
- Optum Rx: Offers clients entry to inexpensive pharmaceutical services.
The corporate is led by CEO Sir Andrew Witty.
Headquarters location: Indianapolis, Indiana
Market capitalization: $111.37 billion
Underwriting experience: Medical insurance
Previously often known as Anthem, Elevance Well being rebranded to its present title in June 2022. It’s the greatest for-profit managed healthcare firm within the Blue Cross Blue Protect Affiliation, with a community of 1.7 million medical doctors and hospitals serving over 32 million shoppers.
Elevance presents a spread of well being plans masking medical, dental, and eye care. These will be accessed by people and employers, in addition to their relations by way of the agency’s subsidiaries Anthem Blue Cross Blue Protect and Wellpoint. The well being insurer’s insurance policies can be found in 14 states listed within the desk under.
Elevance’s healthcare providers options, in the meantime, are distributed by way of its Carelon model, and different affiliate firms.
Headquarters location: Bloomfield, Connecticut
Market capitalization: $85.78 billion
Underwriting experience: Medical insurance
Boasting a workforce of 70,000 well being and insurance coverage professionals, Cigna serves greater than 190 million shoppers throughout over 30 international locations and territories. It presents a spread of well being and dental insurance policies, together with Medicare plans, supplemental medical health insurance, and worldwide healthcare protection.
Cigna’s services are delivered by way of its two enterprise items. These are:
- Cigna Healthcare: Gives advantages that allow shoppers to enhance their well being and wellbeing at every stage of their lives, from childhood to senior age.
- Evernorth Well being Companies: Goals to make therapy and prevention of sickness extra accessible by giving clients entry to a spread of pharmaceutical and healthcare services.
Headquarters location: Mayfield, Ohio
Market capitalization: $83.25 billion
Underwriting experience: Property and casualty insurance coverage
The Progressive Group ranks fourth among the many largest insurance coverage firms within the US based mostly on market cap however tops the checklist with regards to property and casualty insurers. Progressive is greatest recognized for its auto insurance policy, underwriting greater than 13 million insurance policies yearly.
Other than automotive insurance coverage, the P&C insurance coverage large presents a number of kinds of coverages, together with:
Prospects can entry Progressive’s merchandise straight from the insurer or by way of its community of greater than 30,000 unbiased companies throughout the nation.
Traditionally, Progressive is acknowledged because the world’s first automotive insurance coverage firm to launch an internet site. This occurred in 1995 when it was thought of a revolutionary transfer. A 12 months later, clients may evaluate charges on-line and finally had been in a position to buy auto insurance policies on-line by way of the web site. Progressive now boasts a thriving direct-to-consumer enterprise supported by a spread of digital platforms, together with:
- Chatbots
- Unbiased agent locator
- Immediate quoting service
- On-line claims reporting
- On-line coverage service and administration
- Price ticker – Progressive’s on-line comparability instrument
Headquarters location: New York, New York
Market capitalization: $80.12 billion
Experience: Insurance coverage broking and threat administration
Marsh McLennan Corporations, also referred to as MMC, is an expert providers conglomerate with an 85,000-strong workforce and a worldwide attain spanning 130 international locations. The group operates 4 enterprise items, two of that are among the many largest insurance coverage firms within the US and globally. These are:
- Marsh: The primary of MMC’s insurance coverage enterprise, Marsh is a threat administration and broking large credited with advising about 95% of Fortune 500 firms.
- Man Carpenter: MMC’s reinsurance broking arm supplies analytics and strategic advisory providers to shoppers throughout the globe.
- Oliver Wyman: MMC’s administration consulting subsidiary caters to companies in numerous components of the world.
- Mercer: A human sources consulting firm below MMC offering packages and providers that allow companies to spice up worker engagement.
Headquarters location: Louisville, Kentucky
Market capitalization: $62 billion
Underwriting experience: Medical insurance
Humana is a managed healthcare firm that offers people, employer teams, and people on the lookout for government-sponsored plans a spread of inexpensive healthcare protection choices, together with:
- Medicaid plans
- Medicare plans
- Group well being plans
- Dental plans
- Imaginative and prescient plans
- Pharmaceutical plans
These merchandise are distributed by way of point-of-service (POS) plans, well being upkeep organizations (HMOs), and administrative providers.
Humana operates three enterprise items. These are:
- Retail: Consists of merchandise bought to particular person shoppers, together with Medicare and Medicaid plans.
- Group & Specialty: Includes business medical plans and specialty healthcare advantages designed for people and teams.
- Well being Companies: Gives healthcare and wellness options – together with scientific care, pharmacy providers, and predictive modelling and analytics – to people, employers, and different Humana companies.
Headquarters location: New York, New York
Market capitalization: $55.52 billion
Underwriting experience: Life and well being, and property and casualty insurance coverage
MetLife is the biggest insurance coverage firm within the US catering to the life phase, though it additionally presents a spread of property and casualty, and accident and medical health insurance insurance policies. It serves round 100 million shoppers in additional than 40 international locations. MetLife likewise supplies monetary merchandise resembling annuities, endowments, and retirement and financial savings plans. Other than the US, the life insurance coverage large operates in Asia, Latin America, Europe, Center East, and Africa.
Headquarters location: New York, New York
Market capitalization: $44.94 billion
Underwriting experience: Common insurance coverage
American Worldwide Group, Inc. – extra popularly often known as AIG – is a worldwide insurance coverage firm providing a wide selection of property, casualty, and life insurance policy. It additionally supplies shoppers in additional than 70 international locations and jurisdictions with a collection of retirement plans and different monetary providers merchandise, with the assistance of its greater than 46,000 employees.
AIG insurance coverage merchandise are grouped into 5 segments. These are:
- AIG Life: The corporate’s life insurance coverage insurance policies are supplied below the Corebridge Monetary model. These embody its time period, everlasting, and remaining expense life insurance policy.
- AIG Direct: Gives life insurance policy by way of a direct-to-consumer method.
- Journey Guard: Gives an array of journey insurance policy from short-term single journeys to month-long a number of vacation travels.
- Personal Shopper Group: Gives a number of protection choices for high-value belongings.
- Private Accident & Well being Insurance coverage: Gives money advantages when sudden accidents or sicknesses forestall policyholders from incomes an earnings.
AIG’s widespread inventory is listed on the New York Inventory Trade (NYSE), making it one of many largest firms within the US based mostly on market cap.
Headquarters location: New York, New York
Market cap: $42.71 billion
Underwriting experience: Property and casualty insurance coverage
A property and casualty insurance coverage specialist, Vacationers presents a various vary of coverages for people and companies. The desk under exhibits the completely different private and business plans below the corporate’s portfolio.
Based in 1853, Vacationers obtained its title from its insurance policies masking steamboat and railroad passengers. It has since completed a number of business firsts, together with providing the primary car and business airline insurance policies. In 1969, the insurance coverage large has made historical past once more by insuring the primary manned mission to the moon. Vacationers has continued its growth, establishing The Vacationers Institute for public coverage in 2019.
Headquarters location: Rolling Meadows, Illinois
Market cap: $39.82 billion
Experience: Insurance coverage broking and threat administration
Arthur J. Gallagher & Co. – additionally known as Gallagher – ranks as amongst world’s largest insurance coverage dealer and threat supervisor, and property and casualty third-party claims administrator. Together with its subsidiaries, Gallagher supplies insurance coverage brokerage, consulting, and third-party claims settlement and administration providers to companies throughout the globe.
The agency’s experience spans industries, starting from automotive and healthcare to transportation and vitality. It presents a spread of coverages from property and administration legal responsibility to high-quality arts and cyber. Gallagher additionally supplies advantages and HR consulting, captives and different threat switch, and reinsurance providers. The corporate has a longtime presence in additional than 150 international locations.
This is a abstract of the ten largest insurance coverage firms within the US based mostly on market cap.
Market capitalization, additionally known as market cap, is commonly utilized by buyers to find out an organization’s measurement with out having to search for the agency’s income figures or total belongings. Market cap is a vital metric, particularly for the investing group, as it may well point out if a corporation is a secure funding or in the event that they current too excessive of a threat.
However how do you establish an organization’s market capitalization? Market cap is the overall worth of a publicly traded firm’s excellent widespread shares owned by stockholders. To calculate this, you should multiply the variety of its excellent shares by the present market worth of a single share. For our rankings, we pulled market cap knowledge from this web site.
Typically, companies with a big cap are financially steady firms that carry much less threat for buyers. Corporations with smaller market caps, in the meantime, are thought of riskier investments, however additionally they present alternatives for big returns, particularly in the event that they register important progress.
Traders additionally use this metric to guage a agency’s monetary efficiency in opposition to different companies of various sizes. These buying insurance coverage from firms can discover worth and know that an organization has a excessive valuation and is thus a steady group to speculate their insurance coverage cash in.
The most important insurance coverage firms within the US account for nearly half of the business’s international market cap. The world’s 20 largest insurers, nevertheless, contribute about two-thirds to the overall. You may try our rankings of the biggest insurance coverage firms on the earth based mostly on market cap right here.
What do you consider the biggest insurance coverage firms within the US? Have you ever skilled coping with them? Share your story within the remark field under.
