When you’re an investor contemplating including insurance coverage companies to your portfolio, then you definately’ve come to the proper place. When you’re a curious shopper or insurance coverage agent in search of a gradual place to get insurance coverage or work, you could have additionally arrived on the proper place. Right here, we are going to 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 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 shoppers throughout 150 international locations. The medical health insurance large does this by means of its two enterprise items, particularly:
UnitedHealthcare
By its international community of 6,200 hospitals and over 1.5 million medical and healthcare professionals, UnitedHealthcare – the group’s insurance coverage enterprise – provides shoppers a variety of healthcare coverages and companies. These embody:
- UnitedHealthcare Medical Merchandise: Gives inexpensive protection by means of the group’s huge community of hospitals and medical professionals.
- Oxford Well being: Provides shoppers in New York, New Jersey, and Connecticut entry to inexpensive healthcare merchandise.
- UnitedHealth Wellness: The corporate’s suite of wellness packages and companies.
- Digital Visits: Permits shoppers to entry healthcare companies utilizing cell gadgets.
- On-line Providers: Provides prospects entry to easy-to-use on-line instruments by means of the myuhc.com web site.
- Enterprise Journey Insurance coverage: The agency’s collection of medical, journey, and private help companies, which could be accessed by cell staff and their dependents.
Optum
Optum is UnitedHealth Group’s know-how unit providing prospects data and tech-enabled companies by means of its three platforms, particularly:
- Optum Well being: Gives medical and healthcare companies to greater than 102 million shoppers.
- Optum Perception: Affords analysis, analytics, and consulting companies to medical professionals, governments, and life sciences companies.
- Optum Rx: Provides prospects 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 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 Protect Affiliation, with a community of 1.7 million docs and hospitals serving over 32 million shoppers.
Elevance provides a variety of well being plans masking medical, dental, and eye care. These could be accessed by people and employers, in addition to their members of the family by means 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 beneath.
Elevance’s healthcare companies options, in the meantime, are distributed by means 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 provides a variety 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 means of its two enterprise items. These are:
- Cigna Healthcare: Affords 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 Providers: Goals to make remedy and prevention of sickness extra accessible by giving prospects entry to a variety 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 record on the subject of property and casualty insurers. Progressive is greatest identified for its auto insurance coverage, underwriting greater than 13 million insurance policies yearly.
Other than automobile insurance coverage, the P&C insurance coverage large provides a number of kinds of coverages, together with:
Clients can entry Progressive’s merchandise straight from the insurer or by means of its community of greater than 30,000 unbiased companies throughout the nation.
Traditionally, Progressive is acknowledged because the world’s first automobile insurance coverage firm to launch an internet site. This occurred in 1995 when it was thought of a revolutionary transfer. A 12 months later, prospects may examine charges on-line and ultimately had been in a position to buy auto insurance policies on-line by means of 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
- Instantaneous quoting service
- On-line claims reporting
- On-line coverage service and administration
- Fee ticker – Progressive’s on-line comparability instrument
Headquarters location: New York, New York
Market capitalization: $80.12 billion
Experience: Insurance coverage broking and danger 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 danger administration and broking large credited with advising about 95% of Fortune 500 firms.
- Man Carpenter: MMC’s reinsurance broking arm offers analytics and strategic advisory companies to shoppers throughout the globe.
- Oliver Wyman: MMC’s administration consulting subsidiary caters to companies in several elements of the world.
- Mercer: A human sources consulting firm beneath MMC offering packages and companies 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 provides people, employer teams, and people in search of government-sponsored plans a variety 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 means of point-of-service (POS) plans, well being upkeep organizations (HMOs), and administrative companies.
Humana operates three enterprise items. These are:
- Retail: Consists of merchandise bought to particular person shoppers, together with Medicare and Medicaid plans.
- Group & Specialty: Contains industrial medical plans and specialty healthcare advantages designed for people and teams.
- Well being Providers: Affords 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 provides a variety 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 offers 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: Basic insurance coverage
American Worldwide Group, Inc. – extra popularly often called AIG – is a worldwide insurance coverage firm providing a big selection of property, casualty, and life insurance coverage. It additionally offers shoppers in additional than 70 international locations and jurisdictions with a collection 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 provided beneath the Corebridge Monetary model. These embody its time period, everlasting, and remaining expense life insurance coverage.
- AIG Direct: Affords life insurance coverage by means of a direct-to-consumer method.
- Journey Guard: Gives an array of journey insurance coverage from short-term single journeys to month-long a number of vacation travels.
- Personal Consumer Group: Affords a number of protection choices for high-value belongings.
- Private Accident & Well being Insurance coverage: Gives money advantages when surprising accidents or diseases forestall policyholders from incomes an earnings.
AIG’s frequent inventory is listed on the New York Inventory Change (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 provides a various vary of coverages for people and companies. The desk beneath reveals the completely different private and industrial plans beneath the corporate’s portfolio.
Based in 1853, Vacationers bought its identify from its insurance policies masking steamboat and railroad passengers. It has since completed a number of trade firsts, together with providing the primary vehicle and industrial 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 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 danger administration
Arthur J. Gallagher & Co. – additionally known as Gallagher – ranks as amongst world’s largest insurance coverage dealer and danger 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 vitality. It provides a variety of coverages from property and administration legal responsibility to tremendous arts and cyber. Gallagher additionally offers advantages and HR consulting, captives and different danger switch, and reinsurance companies. 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 usually utilized by traders to find out an organization’s dimension with out having to search for the agency’s income figures or general belongings. Market cap is a vital metric, particularly for the investing neighborhood, as it will possibly point out if a corporation is a protected funding or in the event that they current too excessive of a danger.
However how do you identify an organization’s market capitalization? Market cap is the entire worth of a publicly traded firm’s excellent frequent shares owned by stockholders. To calculate this, you’ll want to 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 secure firms that carry much less danger for traders. Corporations with smaller market caps, in the meantime, are thought of riskier investments, however in addition they present alternatives for big returns, particularly in the event that they register important development.
Traders 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 secure group to take a position 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 entire. You’ll be able to try our rankings of the most important insurance coverage firms on the earth 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 beneath.