Best top 20 largest US insurance companies 2022. Insurance companies are key players in the American economy, protecting 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, commercial and commercial insurance, and reinsurance.
Major US insurance companies are key players in the financial industry and play an important role in the economy through risk management. However, they are engaged in fierce competition with each other for market share in the US and abroad and face competition from foreign insurers looking to expand their presence in the domestic market.
Other financial companies, such as banks and financial services companies, also challenge them in their insurance and risk management activities in the financial markets.
While they face fierce competition to provide insurance and risk mitigation products and services to individuals, companies and institutions, the most important threat to insurers comes from the disruption of their traditional business by insurance technology companies.
These new “Insurrection” companies create new ways for people and companies to protect, manage and anticipate risks and exposure to various hazards, which can impede the activities of traditional insurers. And some of them, among the biggest startups in the US, have already grown to become “unicorns”: startups worth over 1 billion dollars.
However, insurance companies are still a mainstay of the US economy and will remain in that position for the foreseeable future. The US is such a big business arena for insurers to thrive that they can actually use their national position to expand abroad and conquer new markets. Whether they offer life and health insurance, property and casualty insurance, insurance brokerage services or reinsurance, insurance companies are in the US to stay and potentially conquer the rest of the world as well. top 20 largest US insurance
top 20 largest US insurance
To provide a broader perspective on US financial and insurance industry players, details of the top twenty insurance companies included in the S&P 500 index are listed below. Each company is detailed with presentations of its sub-sector, activities, market capitalization, a direct link to its website, logo and stock symbol.
The insurance companies listed below are ranked by market capitalization in US dollars, as of the effective close on Friday, February 7, 2020. They are defined as belonging to the property and casualty insurance sub-industries, life and health insurance, line of insurance, insurance brokers and reinsurance.
20. Everest Re Group
Everest Re Group is a reinsurance company. It provides reinsurance (about 70% of premiums received), selling primarily catastrophe and insurance bonds, including property, worker’s compensation, crop, professional liability and casualty insurance. Tracing its origins to 1973, Everest Re operates primarily in the United States and also operates in Europe, Latin America and the rest of the world.