In case you’re an investor contemplating including insurance coverage corporations to your portfolio, then you definately’ve come to the fitting place. In case you’re a curious client or insurance coverage agent in search of a gradual place to get insurance coverage or work, you’ve additionally arrived on the proper place. Right here, we’ll rank the ten greatest publicly traded insurers within the nation primarily based on market cap. Learn on and discover out that are the most important insurance coverage corporations 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 primarily based 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 nations. The medical insurance large does this by means of its two enterprise items, particularly:
UnitedHealthcare
Via its international community of 6,200 hospitals and over 1.5 million medical and healthcare professionals, UnitedHealthcare – the group’s insurance coverage enterprise – affords purchasers a variety of healthcare coverages and providers. These embrace:
- UnitedHealthcare Medical Merchandise: Gives reasonably priced protection by means of the group’s huge community of hospitals and medical professionals.
- Oxford Well being: Offers purchasers in New York, New Jersey, and Connecticut entry to reasonably priced healthcare merchandise.
- UnitedHealth Wellness: The corporate’s suite of wellness packages and providers.
- Digital Visits: Allows purchasers to entry healthcare providers utilizing cell units.
- On-line Companies: Offers 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 providers, which may be accessed by cell staff and their dependents.
Optum
Optum is UnitedHealth Group’s expertise unit providing prospects data and tech-enabled providers by means of its three platforms, particularly:
- Optum Well being: Gives medical and healthcare providers to greater than 102 million purchasers.
- Optum Perception: Gives analysis, analytics, and consulting providers to medical professionals, governments, and life sciences corporations.
- Optum Rx: Offers prospects entry to reasonably priced 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 Defend Affiliation, with a community of 1.7 million medical doctors and hospitals serving over 32 million purchasers.
Elevance affords a variety of well being plans masking medical, dental, and eye care. These may be accessed by people and employers, in addition to their relations by means of 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 beneath.
Elevance’s healthcare providers options, in the meantime, are distributed by means of its Carelon model, and different affiliate corporations.
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 purchasers throughout over 30 nations and territories. It affords a variety of well being and dental insurance policies, together with Medicare plans, supplemental medical insurance, and worldwide healthcare protection.
Cigna’s services are delivered by means of its two enterprise items. These are:
- Cigna Healthcare: Gives 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 Companies: 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 corporations within the US primarily based on market cap however tops the listing 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 affords a number of forms of coverages, together with:
Prospects can entry Progressive’s merchandise immediately from the insurer or by means of its community of greater than 30,000 impartial companies throughout the nation.
Traditionally, Progressive is acknowledged because the world’s first automobile insurance coverage firm to launch a web site. This occurred in 1995 when it was thought of a revolutionary transfer. A yr later, prospects may evaluate charges on-line and finally have 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
- Prompt quoting service
- On-line claims reporting
- On-line coverage service and administration
- Charge ticker – Progressive’s on-line comparability device
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 knowledgeable providers conglomerate with an 85,000-strong workforce and a worldwide attain spanning 130 nations. The group operates 4 enterprise items, two of that are among the many largest insurance coverage corporations 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 corporations.
- Man Carpenter: MMC’s reinsurance broking arm gives analytics and strategic advisory providers to purchasers throughout the globe.
- Oliver Wyman: MMC’s administration consulting subsidiary caters to companies in numerous elements of the world.
- Mercer: A human assets consulting firm beneath 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 in search of 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 means 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 purchasers, together with Medicare and Medicaid plans.
- Group & Specialty: Includes industrial 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 most important insurance coverage firm within the US catering to the life section, though it additionally affords a variety of property and casualty, and accident and medical insurance insurance policies. It serves round 100 million purchasers in additional than 40 nations. MetLife likewise gives monetary merchandise reminiscent of 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: Normal insurance coverage
American Worldwide Group, Inc. – extra popularly often called AIG – is a world insurance coverage firm providing a big selection of property, casualty, and life insurance coverage. It additionally gives purchasers in additional than 70 nations 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 provided beneath the Corebridge Monetary model. These embrace its time period, everlasting, and last expense life insurance coverage.
- AIG Direct: Gives 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 Shopper Group: Gives a number of protection choices for high-value property.
- Private Accident & Well being Insurance coverage: Gives money advantages when surprising accidents or sicknesses stop policyholders from incomes an revenue.
AIG’s frequent inventory is listed on the New York Inventory Alternate (NYSE), making it one of many largest corporations within the US primarily based 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 affords a various vary of coverages for people and companies. The desk beneath exhibits the totally different private and industrial plans beneath the corporate’s portfolio.
Based in 1853, Vacationers obtained 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 car 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 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 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 gives 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 power. It affords a variety of coverages from property and administration legal responsibility to advantageous arts and cyber. Gallagher additionally gives advantages and HR consulting, captives and various danger switch, and reinsurance providers. The corporate has a longtime presence in additional than 150 nations.
This is a abstract of the ten largest insurance coverage corporations within the US primarily based on market cap.
Market capitalization, additionally known as market cap, is commonly utilized by buyers to find out an organization’s dimension with out having to search for the agency’s income figures or general property. Market cap is a crucial metric, particularly for the investing neighborhood, as it may point out if a company is a protected funding or in the event that they current too excessive of a danger.
However how do you establish 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, it’s essential 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.
Usually, companies with a big cap are financially secure corporations that carry much less danger for buyers. Companies 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 guage a agency’s monetary efficiency in opposition to different companies of various sizes. These buying insurance coverage from corporations can discover worth and know that an organization has a excessive valuation and is thus a secure group to speculate their insurance coverage cash in.
The most important insurance coverage corporations 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 possibly can take a look at our rankings of the most important insurance coverage corporations on the planet primarily based on market cap right here.
What do you consider the most important insurance coverage corporations within the US? Have you ever skilled coping with them? Share your story within the remark field beneath.
