Top 20 largest US insurance companies 2021

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Insurance companies are key actors of the American economy, hedging risks and covering the costs of accidents. Present throughout the country and abroad, US insurance companies are involved in life and health insurance, property and casualty insurance, business and commercial insurance, and reinsurance.

The top American insurance companies are important parts of the financial sector and they play a major role in the economy through the management of risks. However, they are engaged in fierce competition against each other for market share in the US and abroad, and face competition from foreign insurers looking to expand their foothold in their domestic market. Other financial companies, such as banks and financial services companies, also challenge them in their insurance and risk management activities in financial markets.

Though they face stiff competition to provide insurance and risk mitigation products and services to individuals, businesses, and institutions, the most important threat for insurers comes from the disruption of their traditional business by insurance tech startups. These new “InsurTech” companies create new ways for people and companies to hedge, manage and anticipate risks and exposure to various hazards, which can impede the activities of traditional insurance companies. And some of them, among the largest US startups, have already grown to become “unicorns”: startups with a valuation above 1 billion dollars.

Nevertheless, insurance companies are still a pillar of the US economy and they will remain in this position for the foreseeable future. The US is such a great business arena for insurers to prosper that they can use their national foothold to expand abroad and conquer new markets. Whether they provide life and health insurance, property and casualty insurance, insurance brokering services, or reinsurance, insurance companies are in the US to stay, and potentially, also to conquer the rest of the world.

List of the top 20 largest American insurance companies by market capitalization

To give you more perspective on the actors of the American financial sector and insurance industry, details about the twenty largest insurance companies headquartered in the US have been listed hereafter. Each company is detailed with presentations of its industry, activities, market capitalization, a direct link to its website, logo, and stock symbol.

For more information on other leading American and financial companies, check our other posts:

The insurance companies listed hereafter are ranked by market capitalization in United States Dollars, as of effective close on Friday, January 29, 2021. They are defined as belonging to the industries of property and casualty insurance, life and health insurance, multi-line insurance, insurance brokers, and reinsurance.

For more information on the largest American companies, download our S&P 500 companies Excel file containing the complete list of the 500 largest publicly listed companies in the US, together with extensive business, market, financial, and digital information on each company. For even more data on the largest US companies, download our Excel files on the Russell 1000 companies, Russell 2000 companies, or Russell 3000 companies.

Shortcuts to each insurance company

To facilitate your browsing in this long list, here are quick links to go directly to the details of any of the top 20 American insurance companies. Be sure to also check the Top 10 US insurance companies’ summary after the list!

20. Globe Life

Industry: Life Insurance

Globe Life is a financial services holding company. Providing services through its wholly-owned subsidiaries, Globe Life offers life insurance, annuity, and supplemental health insurance products. It operates primarily in the states of Texas, New York, and Oklahoma.

Website: globelifeinsurance.com – Market Cap.: $9.5 Billion – Stock ticker: GL

19. CNA Insurance

Industry: Property & Casualty Insurance

CNA Financial Corporation, more simply known as CNA, is a financial company primarily involved in insurance. Tracing its origins to 1897, CNA provides property and casualty insurance products and services for businesses and professionals in the US, Canada, and a number of other countries of Europe and Asia. CNA is owned in majority by Loews Corporation.

Website: cna.com – Market Cap.: $10.4 Billion – Stock ticker: CNA

18. Fidelity National Financial

Industry: Specialty Insurance

Fidelity National Financial, also known as FNF, is a company operating in title insurance, mortgage, and real estate services, real estate technology and annuities, and life insurance. Offering its services to residential and commercial property owners, FNF also provides technology and transaction services to the real estate and mortgage industries. It also invests in other companies through its FNF Ventures arm.

Website: fnf.com – Market Cap.: $10.7 Billion – Stock ticker: FNF

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