The 10 Largest Insurance Companies in America

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Have you ever wondered who the biggest players are in the insurance industry? The insurance business is huge in the US, with hundreds of companies vying for your business. But there are a few major companies that dominate the market. Chances are you’ve heard of many of these insurance giants and may even hold policies with some of them. These massive companies are able to leverage their size to often offer lower rates and a wider range of products than their smaller competitors. If you’re in the market for insurance or just curious to know who the big dogs are, here’s a look at the 10 largest insurance companies in America.

Introduction to the Largest Insurance Companies in the US

The largest insurance companies in America are major players that most people interact with in some form. These massive corporations provide various types of insurance, including health, life, and property insurance. Some of the biggest names are:

State Farm

The largest auto and home insurer in the U.S. with over 19,000 agents and $32 billion in revenue. They offer banking and investment services in addition to insurance.

Berkshire Hathaway

Warren Buffett’s company owns several insurance subsidiaries like GEICO, General RE, and National Indemnity Company. Combined, they bring in over $28 billion annually.

Prudential Financial

One of the largest life insurance companies, managing over $1 trillion in assets. They provide life insurance, annuities, mutual funds, and pension fund management.

UnitedHealth Group

The biggest health insurer in the U.S. covering over 49 million Americans. They offer health insurance plans, software, consulting, and health care management services with annual revenue of $242 billion.


Operating Blue Cross Blue Shield plans in 14 states, Anthem is a major medical insurer covering over 40 million people. They bring in $90 billion in revenue each year.

As you can see, insurance is big business! These massive companies provide coverage and financial services to hundreds of millions of customers in America and beyond. While often criticized, insurance plays an important role in managing risk and providing stability. The largest insurers are innovating to improve health outcomes, lower costs, and enhance the customer experience through investments in technology and data analytics.

The Top 5 Property and Casualty Insurance Companies

The largest property and casualty insurers in the U.S. are also some of the biggest companies in the world. These massive corporations provide coverage for homes, vehicles, and businesses across America.

State Farm

State Farm is the largest property and casualty insurer in the country. They provide auto, home, life, and other insurance products to over 83 million customers in the U.S. and Canada. Originally founded in 1922, State Farm now has over 19,000 agents and 65,000 employees.

Berkshire Hathaway

The multinational conglomerate Berkshire Hathaway owns GEICO, one of the biggest auto insurers in America. GEICO provides coverage for over 24 million vehicles across the nation. Thanks to GEICO’s huge customer base and Berkshire Hathaway’s diverse investment portfolio, the company brings in over $245 billion in revenue each year.


Progressive, founded in 1937, offers auto, home, and commercial insurance to millions of customers. They’re known for providing affordable insurance options, especially for high-risk drivers. Progressive utilizes technology and data to accurately price policies based on a customer’s unique situation. They bring in $36 billion in yearly revenue and employ over 33,000 people.

Liberty Mutual

Liberty Mutual offers a wide range of property and casualty insurance products, including home, auto, and business insurance. They provide coverage to individuals as well as large organizations. With over 45,000 employees worldwide, Liberty Mutual generates $41 billion in annual revenue.


Allstate is one of the largest publicly held personal property and casualty insurers in America. They offer auto, home, life, and commercial insurance to 16 million households. Allstate has been serving customers since 1931 and now has over 44,000 employees across the U.S. and Canada. They generate $35 billion in yearly revenue through insurance premiums and investments.

The Top 5 Life and Health Insurance Companies

When it comes to life and health insurance in the U.S., a few major players dominate the market. The top 5 companies control over 50% of the industry, providing coverage for millions of Americans.

Prudential Financial

Prudential Financial is one of the largest life insurance companies in the world. They offer term life insurance, whole life insurance, and universal life insurance. With over $3.5 trillion in assets under management, they have the size and stability to provide reliable coverage and pay out claims.


MetLife is another leading life insurance provider, offering affordable term life and whole life insurance. They are also a top disability insurance carrier. Backed by over 150 years of experience, MetLife has paid out over $500 billion in life insurance claims. They have a strong financial rating and are a trusted brand for life insurance.

New York Life

New York Life has been providing life insurance since 1845. They are a mutual company, meaning they are owned by policyholders and focus solely on their needs. They offer term life, whole life, universal life, and variable life insurance. With over $500 billion in assets and a top financial rating, New York Life is a stable and dependable life insurance carrier.

State Farm

State Farm is the largest auto and home insurer in the U.S., and they are also a leading life insurance provider. They offer term life, whole life, and universal life insurance at competitive rates. As a mutual company, State Farm’s primary goal is to serve policyholders. They have paid out over $100 billion in life insurance claims to date.

Northwestern Mutual

Northwestern Mutual has been providing life insurance since 1857. They offer a variety of term life, whole life, and universal life insurance policies. With over $290 billion in assets and the highest financial ratings, Northwestern Mutual is an extremely stable and secure life insurance company. They are also a mutual company, operating for the benefit of policyholders.

Notable Mentions: Other Major US Insurance Companies

While the top 4 insurance companies dominate the market, there are several other major players in the US worth noting.

Liberty Mutual

Founded in 1912, Liberty Mutual is the sixth largest property and casualty insurer in the U.S. They offer auto, home, and life insurance, as well as commercial policies. Liberty Mutual is headquartered in Boston, Massachusetts and has over 50,000 employees.


United Services Automobile Association or USAA provides insurance and banking exclusively for military members, veterans, and their families. They offer highly competitive rates on auto, home, and renters insurance. USAA has over 13 million members and is headquartered in San Antonio, Texas.


Travelers is one of the oldest insurance companies in America, dating back to 1864. They provide commercial and personal insurance like auto, home, and business. Travelers has more than 30,000 employees and generates over $30 billion in revenue. They are headquartered in New York City.


Allstate is the largest publicly held insurance company in the U.S. They offer auto, home, life, and commercial insurance. Allstate was founded in 1931 and is headquartered in Northbrook, Illinois, employing over 45,000 people. They have a very strong marketing presence with their “You’re in good hands” slogan.


Chubb is the world’s largest publicly traded insurance company. They provide commercial property and casualty insurance, as well as personal insurance like high-value homeowner’s policies. Chubb has been in business since 1882 and has over 33,000 employees worldwide. They are headquartered in Zurich, Switzerland.

While not quite as sizable as the top US insurance companies, these notable mentions demonstrate the range of established insurance providers available to Americans. Each offers their own unique products, level of customer service, and competitive rates.


So there you have it, the 10 biggest insurance giants dominating the US market. These companies have been around for decades (some over a century!) and don’t seem to be going anywhere soon. Whether you need auto, home, life or business insurance, chances are you’ll end up giving your hard-earned dollars to one of these industry leaders. You may not always love paying those premiums, but when disaster strikes, you’ll sure be glad you had the foresight to protect yourself. Insurance isn’t the most exciting topic, but it’s a necessity in life. At least now you know a bit about the major players and can make an informed choice about who you want to trust to have your back when times get tough. Knowledge is power, so stay informed and ensure you have the coverage you need. The future is uncertain, but with the right insurance partner, you can face it with confidence.

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