As of December 31, 2022, the top 25 life insurance companies in the United States earned a total of $139.41 billion, which represents 72.01% of the life insurance premiums. Similarly, the leading 25 non-life insurance companies generated a total turnover of $583.64 billion, accounting for 67.06% of the non-life insurance market.
Top 25 life insurance companies in the United States
| 1 | Northwestern Mut | 13.94 | 14.27 | -2.31% | 7.20% |
| 2 | New York Life | 12.48 | 13.26 | -5.88% | 6.45% |
| 3 | Metropolitan | 12.33 | 11.48 | 7.40% | 6.37% |
| 4 | Prudential of Amer | 10.55 | 10.64 | -0.85% | 5.45% |
| 5 | Mass Mut Life | 9.55 | 10.04 | -4.88% | 4.93% |
| 6 | Lincoln National | 8.56 | 8.3 | 3.13% | 4.42% |
| 7 | Nationwide Corporation | 6.1 | 3.93 | 55.22% | 3.15% |
| 8 | State Farm | 5.51 | 5.25 | 4.95% | 2.85% |
| 9 | Minnesota Mut | 5.05 | 4.83 | 4.55% | 2.61% |
| 10 | Aegon US Holding | 5.04 | 4.98 | 1.20% | 2.60% |
| 11 | John Hancock | 4.91 | 5.04 | -2.58% | 2.54% |
| 12 | Guardian Life | 4.82 | 4.53 | 6.40% | 2.49% |
| 13 | Pacific Life | 4.75 | 4.53 | 4.86% | 2.45% |
| 14 | Dai-Ichi Life Holdings | 4.21 | 3.56 | 18.26% | 2.17% |
| 15 | American International | 3.54 | 3.58 | -1.12% | 1.83% |
| 16 | Sammons Enterprises | 3.49 | 4.36 | -19.95% | 1.80% |
| 17 | Mutual of Omaha | 3.17 | 2.92 | 8.56% | 1.64% |
| 18 | Globe Life | 2.98 | 1.46 | 104.11% | 1.54% |
| 19 | Equitable Holdings | 2.88 | 3 | -4.00% | 1.49% |
| 20 | Primerica | 2.88 | 2.78 | 3.60% | 1.49% |
| 21 | PENN Mut | 2.87 | 3.93 | -26.97% | 1.48% |
| 22 | National Life | 2.77 | 2.51 | 10.36% | 1.43% |
| 23 | Principal FIN | 2.5 | 2.43 | 2.88% | 1.29% |
| 24 | UNUM | 2.43 | 2.4 | 1.25% | 1.26% |
| 25 | Hartford Fire & Cas | 2.1 | 2.13 | -1.41% | 1.08% |
| Total of top 25 companies | 139.41 | 136.14 | 2.40% | 72.01% | |
| Rest of the market (2) | 54.19 | 54.39 | -0.37% | 27.99% | |
Top 25 non life insurance companies in the United States
| Rank 2022 | Companies | Turnover (1) | 2021-2022 evolution | 2022 shares | |
| 2022 | 2021 | ||||
| 1 | State Farm | 78.64 | 70.31 | 11.85% | 9.04% |
| 2 | Berkshire Hathaway | 56.88 | 51.6 | 10.23% | 6.54% |
| 3 | Progressive | 52.33 | 47.76 | 9.57% | 6.01% |
| 4 | Allstate | 45.51 | 41.06 | 10.84% | 5.23% |
| 5 | Liberty | 45.26 | 39.02 | 15.99% | 5.20% |
| 6 | Travelers | 34.35 | 30.92 | 11.09% | 3.95% |
| 7 | Chubb Ltd | 30.23 | 26.98 | 12.05% | 3.47% |
| 8 | USAA | 26.86 | 25.25 | 6.38% | 3.09% |
| 9 | Farmers | 26.42 | 25.01 | 5.64% | 3.04% |
| 10 | Nationwide Corporation | 20.32 | 19.44 | 4.53% | 2.33% |
| 11 | Zurich Insurance | 17.62 | 15.02 | 17.31% | 2.02% |
| 12 | American International | 15.47 | 14.79 | 4.60% | 1.78% |
| 13 | Hartford Fire &Â CAS | 14.72 | 13.56 | 8.55% | 1.69% |
| 14 | American Family Insurance Group | 14.09 | 10.03 | 40.48% | 1.62% |
| 15 | CNA Financial | 13.21 | 12.6 | 4.84% | 1.52% |
| 16 | Tokio Marine Holdings | 11.15 | 7.48 | 49.06% | 1.28% |
| 17 | Auto-Owners Insurance | 10.99 | 9.92 | 10.79% | 1.26% |
| 18 | Fairfax Financial | 10.98 | 5.76 | 90.63% | 1.26% |
| 19 | W.R. Berkley Corporation | 9.27 | 8.26 | 12.23% | 1.07% |
| 20 | Assurant Inc. | 8.72 | 8.92 | -2.24% | 1.00% |
| 21 | American Financial Group | 8.64 | 6.69 | 29.15% | 0.99% |
| 22 | Erie Insurance Group | 8.6 | 7.87 | 9.28% | 0.99% |
| 23 | Markel Corporation | 8.3 | 7.42 | 11.86% | 0.95% |
| 24 | AXA Insurance Group | 7.68 | 7.77 | -1.16% | 0.88% |
| 25 | Sompo | 7.4 | 6.57 | 12.63% | 0.85% |
| Total of top 25 companies | 583.64 | 520.01 | 12.24% | 67.06% | |
| Rest of the market (1) | 286.63 | 280.92 | 2.03% | 32.94% | |
| Grand total | 870.27 | 800.93 | 8.66% | 100% | |
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Northwestern Mutual
Northwestern Mutual is a well-known financial services company based in the United States. It is primarily recognized for its expertise in life insurance, investment, and wealth management services. Established in 1857, Northwestern Mutual has a long history and is often ranked among the top life insurance companies in the country. The company focuses on helping individuals and businesses with financial planning, retirement planning, and various insurance products. Northwestern Mutual is known for its financial stability and commitment to providing long-term financial security for its policyholders and clients.
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New York Life
New York Life Insurance Company is one of the largest and oldest mutual life insurance companies in the United States. Founded in 1845, it has a rich history and is known for its financial strength and stability. New York Life offers a wide range of insurance and financial products, including life insurance, retirement income planning, and investment services.
As a mutual company, New York Life is owned by its policyholders, and its primary focus is on providing financial security and peace of mind to its customers. The company has a reputation for strong customer service, and it often ranks among the top life insurance providers in the industry.
New York Life emphasizes long-term relationships with its policyholders and aims to help individuals, families, and businesses achieve their financial goals through its diverse portfolio of products and services.
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Metropolitan
Metropolitan Life Insurance Company, commonly known as MetLife, is a leading global provider of insurance, annuities, and employee benefit programs. Established in 1868, MetLife has grown to become one of the largest and most recognizable insurance companies worldwide. The company serves individuals, businesses, and institutions, offering a broad range of financial products and services.
MetLife is known for its diverse portfolio, which includes life insurance, disability income insurance, dental insurance, and retirement and investment products. The company operates in multiple countries and serves millions of customers globally.
As a major player in the insurance industry, MetLife is often recognized for its financial strength and stability. It caters to the insurance needs of individuals and provides various group insurance and employee benefits solutions for businesses.
It’s important to note that the specific details of MetLife’s products and services may vary by region and market, and individuals interested in their offerings should consult directly with MetLife or authorized agents for the most accurate and up-to-date information.
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State Farm Group
State Farm is a prominent insurance and financial services company in the United States. Established in 1922, State Farm provides a wide range of insurance products, including auto, home, life, and health insurance. The company is well-known for its large network of agents and its emphasis on personalized customer service.
State Farm is the largest auto insurance provider in the United States and is recognized for its catchy advertising campaigns, featuring the slogan “Like a good neighbor, State Farm is there.”
Apart from insurance, State Farm also offers banking and financial services, including mutual funds and banking products. Customers can manage multiple aspects of their financial well-being through State Farm’s comprehensive offerings.
State Farm operates as a mutual company, which means it is owned by its policyholders. This structure aligns the company’s interests with the well-being of its customers.
With its widespread presence and a focus on building strong relationships with customers, State Farm has become one of the most trusted names in the insurance industry.
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Berkshire Hathaway
Berkshire Hathaway does not operate under a single insurance brand; instead, it owns several insurance companies that collectively form its insurance business. One notable subsidiary within the Berkshire Hathaway portfolio is GEICO (Government Employees Insurance Company), which is a major auto insurance provider in the United States. GEICO is well-known for its direct-to-consumer model and memorable advertising campaigns.
In addition to GEICO, Berkshire Hathaway also owns General Re, a reinsurance company, and other specialty insurance businesses. These subsidiaries collectively contribute to Berkshire Hathaway’s presence and success in the insurance sector.
It’s important to note that the insurance operations of Berkshire Hathaway are diverse, and the specific companies within its insurance portfolio may offer different types of coverage and services. If you are looking for information on a particular insurance product or subsidiary under Berkshire Hathaway, you may need to refer to the specific brand or company within its holdings.
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State Farm
State Farm is a well-known insurance and financial services company in the United States. Established in 1922, State Farm operates as a mutual insurance company, meaning it is owned by its policyholders. The company is renowned for its extensive network of insurance agents and a wide range of insurance products and financial services. Here are some key points about State Farm:
Insurance Products: State Farm offers various insurance products, including auto insurance, home insurance, life insurance, health insurance, and other specialty insurance coverages.
Auto Insurance: State Farm is the largest auto insurance provider in the United States. Its auto insurance policies cover cars, motorcycles, and other vehicles.
Home Insurance: State Farm provides homeowners insurance to protect against property damage, liability, and other risks associated with owning a home.
Life Insurance: State Farm offers life insurance policies, including term life, whole life, and universal life insurance, to provide financial protection for policyholders and their beneficiaries.
Financial Services: In addition to insurance, State Farm offers various financial services, including banking, mutual funds, and retirement planning.
Agent Network: State Farm operates through a vast network of independent contractor agents who sell and service its insurance and financial products. The company emphasizes a personalized and local approach to customer service.
Community Involvement: State Farm is actively involved in community outreach and charitable initiatives. The company places a strong emphasis on corporate social responsibility.
When considering insurance or financial services from State Farm, it’s recommended to contact a local State Farm agent who can provide personalized advice and assistance based on individual needs and circumstances.
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Lincoln Financial
Lincoln Financial Group is a financial services company that provides a range of insurance and investment products. Here are some key points about Lincoln Financial:
Insurance Products: Lincoln Financial offers various insurance products, including life insurance, annuities, and group protection (such as employer-sponsored life and disability insurance).
Life Insurance: The company provides different types of life insurance, including term life, universal life, and variable universal life insurance. These policies offer financial protection for individuals and their families.
Annuities: Lincoln Financial offers annuity products, which are financial contracts that provide a stream of income, often used for retirement planning.
Retirement Planning: The company is involved in retirement planning and offers solutions such as employer-sponsored retirement plans, individual retirement accounts (IRAs), and investment management services.
Investment Management: Lincoln Financial is engaged in investment management, offering services and products designed to help individuals and institutions grow and manage their wealth.
Financial Advice: The company often emphasizes providing financial advice and solutions tailored to the individual needs and goals of its customers.
History and Size: Lincoln Financial Group has a history dating back to 1905 and has grown to become one of the major players in the insurance and financial services industry.
When considering products from Lincoln Financial, it’s advisable to consult with a financial advisor or an authorized representative of the company to ensure that the chosen products align with individual financial objectives and circumstances.
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MassMutual
Massachusetts Mutual Life Insurance Company, commonly known as MassMutual, is a prominent mutual life insurance company in the United States. Here are some key points about MassMutual:
Life Insurance: MassMutual primarily focuses on life insurance products, offering a variety of policies such as term life insurance, whole life insurance, and universal life insurance. These products provide financial protection for individuals and their families.
Annuities: In addition to life insurance, MassMutual provides annuity products. Annuities are financial instruments that can offer a stream of income, often used for retirement planning.
Retirement Solutions: MassMutual is involved in retirement planning and provides solutions such as retirement savings plans, including 401(k) plans for employers and individuals.
Investment Management: The company offers investment management services, providing individuals and institutions with options for growing and managing their wealth.
Financial Education: MassMutual places an emphasis on financial education and resources, aiming to empower individuals to make informed financial decisions.
Mutual Company: As a mutual company, MassMutual is owned by its policyholders. This means that policyholders are considered members and may receive dividends or other benefits based on the company’s financial performance.
History and Size: MassMutual has a long history, dating back to its founding in 1851. It has grown to become one of the largest life insurance companies in the United States.
Individuals interested in MassMutual’s products and services should consult with a financial advisor or a representative of the company to understand the specific offerings and how they align with their financial goals.