Best insurance companies in the United States: 2023 ranking
In 2023, the National Association of Insurance Commissioners (NAIC) published the turnover as of 31 December 2022 of the active insurers in the United States.
The top 25 life insurers accumulated 139.41 billion USD, that is 72.01% of life premiums. Meanwhile, the 25 leaders in non-life insurance generated a turnover of 583.64 billion USD, that is 67.06% of the non-life market.
Top 25 life insurance companies in the United States
Figures in billion USD
| Rank 2022 | Companies | Turnover (1) | 2021-2022 evolution | 2022 shares | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 1 | Northwestern Mut | 13.94 | 14.27 | -2.31% | 7.20% |
| 2 | New York Life | 12.48 | 13.26 | -5.88% | 6.45% |
| 3 | Metropolitan | 12.33 | 11.48 | 7.40% | 6.37% |
| 4 | Prudential of Amer | 10.55 | 10.64 | -0.85% | 5.45% |
| 5 | Mass Mut Life | 9.55 | 10.04 | -4.88% | 4.93% |
| 6 | Lincoln National | 8.56 | 8.3 | 3.13% | 4.42% |
| 7 | Nationwide Corporation | 6.1 | 3.93 | 55.22% | 3.15% |
| 8 | State Farm | 5.51 | 5.25 | 4.95% | 2.85% |
| 9 | Minnesota Mut | 5.05 | 4.83 | 4.55% | 2.61% |
| 10 | Aegon US Holding | 5.04 | 4.98 | 1.20% | 2.60% |
| 11 | John Hancock | 4.91 | 5.04 | -2.58% | 2.54% |
| 12 | Guardian Life | 4.82 | 4.53 | 6.40% | 2.49% |
| 13 | Pacific Life | 4.75 | 4.53 | 4.86% | 2.45% |
| 14 | Dai-Ichi Life Holdings | 4.21 | 3.56 | 18.26% | 2.17% |
| 15 | American International | 3.54 | 3.58 | -1.12% | 1.83% |
| 16 | Sammons Enterprises | 3.49 | 4.36 | -19.95% | 1.80% |
| 17 | Mutual of Omaha | 3.17 | 2.92 | 8.56% | 1.64% |
| 18 | Globe Life | 2.98 | 1.46 | 104.11% | 1.54% |
| 19 | Equitable Holdings | 2.88 | 3 | -4.00% | 1.49% |
| 20 | Primerica | 2.88 | 2.78 | 3.60% | 1.49% |
| 21 | PENN Mut | 2.87 | 3.93 | -26.97% | 1.48% |
| 22 | National Life | 2.77 | 2.51 | 10.36% | 1.43% |
| 23 | Principal FIN | 2.5 | 2.43 | 2.88% | 1.29% |
| 24 | UNUM | 2.43 | 2.4 | 1.25% | 1.26% |
| 25 | Hartford Fire & Cas | 2.1 | 2.13 | -1.41% | 1.08% |
| Total of top 25 companies | 139.41 | 136.14 | 2.40% | 72.01% | |
| Rest of the market (2) | 54.19 | 54.39 | -0.37% | 27.99% | |
| Grand total | 193.6 | 190.53 | 1.61% | 100% | |
(1) Life insurance only, excluding health and accident,
(2) 642 life companies.
Top 25 non life insurance companies in the United States
Figures in billion USD
| Rank 2022 | Companies | Turnover (1) | 2021-2022 evolution | 2022 shares | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 1 | State Farm | 78.64 | 70.31 | 11.85% | 9.04% |
| 2 | Berkshire Hathaway | 56.88 | 51.6 | 10.23% | 6.54% |
| 3 | Progressive | 52.33 | 47.76 | 9.57% | 6.01% |
| 4 | Allstate | 45.51 | 41.06 | 10.84% | 5.23% |
| 5 | Liberty | 45.26 | 39.02 | 15.99% | 5.20% |
| 6 | Travelers | 34.35 | 30.92 | 11.09% | 3.95% |
| 7 | Chubb Ltd | 30.23 | 26.98 | 12.05% | 3.47% |
| 8 | USAA | 26.86 | 25.25 | 6.38% | 3.09% |
| 9 | Farmers | 26.42 | 25.01 | 5.64% | 3.04% |
| 10 | Nationwide Corporation | 20.32 | 19.44 | 4.53% | 2.33% |
| 11 | Zurich Insurance | 17.62 | 15.02 | 17.31% | 2.02% |
| 12 | American International | 15.47 | 14.79 | 4.60% | 1.78% |
| 13 | Hartford Fire & CAS | 14.72 | 13.56 | 8.55% | 1.69% |
| 14 | American Family Insurance Group | 14.09 | 10.03 | 40.48% | 1.62% |
| 15 | CNA Financial | 13.21 | 12.6 | 4.84% | 1.52% |
| 16 | Tokio Marine Holdings | 11.15 | 7.48 | 49.06% | 1.28% |
| 17 | Auto-Owners Insurance | 10.99 | 9.92 | 10.79% | 1.26% |
| 18 | Fairfax Financial | 10.98 | 5.76 | 90.63% | 1.26% |
| 19 | W.R. Berkley Corporation | 9.27 | 8.26 | 12.23% | 1.07% |
| 20 | Assurant Inc. | 8.72 | 8.92 | -2.24% | 1.00% |
| 21 | American Financial Group | 8.64 | 6.69 | 29.15% | 0.99% |
| 22 | Erie Insurance Group | 8.6 | 7.87 | 9.28% | 0.99% |
| 23 | Markel Corporation | 8.3 | 7.42 | 11.86% | 0.95% |
| 24 | AXA Insurance Group | 7.68 | 7.77 | -1.16% | 0.88% |
| 25 | Sompo | 7.4 | 6.57 | 12.63% | 0.85% |
| Total of top 25 companies | 583.64 | 520.01 | 12.24% | 67.06% | |
| Rest of the market (1) | 286.63 | 280.92 | 2.03% | 32.94% | |
| Grand total | 870.27 | 800.93 | 8.66% | 100% | |
(1) 2626 companies.
