In the event you’re an investor contemplating including insurance coverage companies to your portfolio, you then’ve come to the suitable place. In the event you’re a curious client or insurance coverage agent searching for a gradual place to get insurance coverage or work, you may 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 most important insurance coverage firms within the US.
Headquarters location: Minnetonka, Minnesota
Market capitalization: $443.30 billion
Underwriting experience: Medical health insurance
The biggest 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 purchasers throughout 150 international locations. The medical insurance big does this by its two enterprise items, particularly:
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 purchasers a variety of healthcare coverages and companies. These embody:
- UnitedHealthcare Medical Merchandise: Offers reasonably priced protection by the group’s huge community of hospitals and medical professionals.
- Oxford Well being: Provides purchasers in New York, New Jersey, and Connecticut entry to reasonably priced healthcare merchandise.
- UnitedHealth Wellness: The corporate’s suite of wellness packages and companies.
- Digital Visits: Permits purchasers to entry healthcare companies utilizing cellular gadgets.
- On-line Providers: Provides prospects entry to easy-to-use on-line instruments by the myuhc.com web site.
- Enterprise Journey Insurance coverage: The agency’s number of medical, journey, and private help companies, which will be accessed by cellular workers and their dependents.
Optum
Optum is UnitedHealth Group’s know-how unit providing prospects data and tech-enabled companies by its three platforms, particularly:
- Optum Well being: Offers medical and healthcare companies to greater than 102 million purchasers.
- Optum Perception: Presents analysis, analytics, and consulting companies to medical professionals, governments, and life sciences companies.
- Optum Rx: Provides prospects entry to reasonably priced pharmaceutical services and products.
The corporate is led by CEO Sir Andrew Witty.
Headquarters location: Indianapolis, Indiana
Market capitalization: $111.37 billion
Underwriting experience: Medical health insurance
Previously often called Anthem, Elevance Well being rebranded to its present identify in June 2022. It’s the greatest for-profit managed healthcare firm within the Blue Cross Blue Defend Affiliation, with a community of 1.7 million docs and hospitals serving over 32 million purchasers.
Elevance presents a variety of well being plans masking medical, dental, and eye care. These will be accessed by people and employers, in addition to their relations by the agency’s subsidiaries Anthem Blue Cross Blue Defend and Wellpoint. The well being insurer’s insurance policies can be found in 14 states listed within the desk under.
Elevance’s healthcare companies options, in the meantime, are distributed by its Carelon model, and different affiliate firms.
Headquarters location: Bloomfield, Connecticut
Market capitalization: $85.78 billion
Underwriting experience: Medical health insurance
Boasting a workforce of 70,000 well being and insurance coverage professionals, Cigna serves greater than 190 million purchasers throughout over 30 international locations and territories. It presents a variety of well being and dental insurance policies, together with Medicare plans, supplemental medical insurance, and worldwide healthcare protection.
Cigna’s services and products are delivered by its two enterprise items. These are:
- Cigna Healthcare: Presents advantages that allow purchasers to enhance their well being and wellbeing at every stage of their lives, from childhood to senior age.
- Evernorth Well being Providers: Goals to make remedy and prevention of sickness extra accessible by giving prospects entry to a variety of pharmaceutical and healthcare services and products.
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 listing relating to property and casualty insurers. Progressive is finest identified for its auto insurance policy, underwriting greater than 13 million insurance policies yearly.
Other than automotive insurance coverage, the P&C insurance coverage big presents a number of varieties of coverages, together with:
Prospects can entry Progressive’s merchandise straight from the insurer or by its community of greater than 30,000 impartial companies throughout the nation.
Traditionally, Progressive is acknowledged because the world’s first automotive insurance coverage firm to launch a web site. This occurred in 1995 when it was thought of a revolutionary transfer. A yr later, prospects might evaluate charges on-line and ultimately had been in a position to buy auto insurance policies on-line by the web site. Progressive now boasts a thriving direct-to-consumer enterprise supported by a variety of digital platforms, together with:
- Chatbots
- Impartial agent locator
- On the spot quoting service
- On-line claims reporting
- On-line coverage service and administration
- Charge 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 Firms, also called MMC, is an expert companies 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 big credited with advising about 95% of Fortune 500 firms.
- Man Carpenter: MMC’s reinsurance broking arm offers analytics and strategic advisory companies to purchasers throughout the globe.
- Oliver Wyman: MMC’s administration consulting subsidiary caters to companies in several components of the world.
- Mercer: A human sources consulting firm below MMC offering packages and companies that allow companies to spice up worker engagement.
Headquarters location: Louisville, Kentucky
Market capitalization: $62 billion
Underwriting experience: Medical health insurance
Humana is a managed healthcare firm that offers people, employer teams, and people searching for government-sponsored plans a variety of reasonably priced 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 point-of-service (POS) plans, well being upkeep organizations (HMOs), and administrative companies.
Humana operates three enterprise items. These are:
- Retail: Consists of merchandise offered to particular person purchasers, together with Medicare and Medicaid plans.
- Group & Specialty: Contains industrial medical plans and specialty healthcare advantages designed for people and teams.
- Well being Providers: Presents healthcare and wellness options – together with medical care, pharmacy companies, 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 most important insurance coverage firm within the US catering to the life section, though it additionally presents a variety of property and casualty, and accident and medical insurance insurance policies. It serves round 100 million purchasers in additional than 40 international locations. MetLife likewise offers monetary merchandise comparable to annuities, endowments, and retirement and financial savings plans. Other than the US, the life insurance coverage big operates in Asia, Latin America, Europe, Center East, and Africa.
Headquarters location: New York, New York
Market capitalization: $44.94 billion
Underwriting experience: Basic insurance coverage
American Worldwide Group, Inc. – extra popularly often called AIG – is a worldwide insurance coverage firm providing a wide selection of property, casualty, and life insurance policy. It additionally offers purchasers in additional than 70 international locations and jurisdictions with a number of retirement plans and different monetary companies 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 ultimate expense life insurance policy.
- AIG Direct: Presents life insurance policy by a direct-to-consumer method.
- Journey Guard: Offers an array of journey insurance policy from short-term single journeys to month-long a number of vacation travels.
- Personal Shopper Group: Presents a number of protection choices for high-value property.
- Private Accident & Well being Insurance coverage: Offers money advantages when sudden accidents or diseases forestall policyholders from incomes an revenue.
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 reveals the totally different private and industrial plans below the corporate’s portfolio.
Based in 1853, Vacationers obtained its identify from its insurance policies masking steamboat and railroad passengers. It has since achieved a number of trade firsts, together with providing the primary vehicle and industrial airline insurance policies. In 1969, the insurance coverage big has made historical past once more by insuring the primary manned mission to the moon. Vacationers has continued its enlargement, 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 offers insurance coverage brokerage, consulting, and third-party claims settlement and administration companies to companies throughout the globe.
The agency’s experience spans industries, starting from automotive and healthcare to transportation and power. It presents a variety of coverages from property and administration legal responsibility to superb arts and cyber. Gallagher additionally offers advantages and HR consulting, captives and various threat switch, and reinsurance companies. The corporate has a longtime presence in additional than 150 international locations.
Here 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 usually utilized by traders to find out an organization’s dimension with out having to search for the agency’s income figures or total property. Market cap is a vital metric, particularly for the investing group, as it will possibly 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 full worth of a publicly traded firm’s excellent widespread shares owned by stockholders. To calculate this, it’s good to multiply the variety of its excellent shares by the present market worth of a single share. For our rankings, we pulled market cap information from this web site.
Usually, companies with a big cap are financially steady firms that carry much less threat for traders. Corporations with smaller market caps, in the meantime, are thought of riskier investments, however in addition they present alternatives for enormous returns, particularly in the event that they register important progress.
Buyers additionally use this metric to judge a agency’s monetary efficiency towards 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 biggest insurance coverage firms within the US account for nearly half of the trade’s international market cap. The world’s 20 largest insurers, nonetheless, contribute about two-thirds to the full. You’ll be able to take a look at our rankings of the most important insurance coverage firms on the planet based mostly on market cap right here.
What do you consider the most important insurance coverage firms within the US? Have you ever skilled coping with them? Share your story within the remark field under.
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