Insurance companies have been one of the most important key actors in United State’s economy over the years. There is a highly vivid competition amongst them. They all compete with each other in order to get the highest market share possible while they are also being challenged by other companies such as banks and financial services. The general condition of the U.S.A in terms of its economical position provides a great opportunity for insurance companies grow and invest abroad. But of course, we are going to be covering only the top 5 in our list today. Before we start, make sure to check out our “a cash loan or a credit card?” article as well.
Largest Insurance Companies in U.S.A
Sub-Industry: Life & Health Insurance
We start our list with number 5, MetLife. It is an insurance company that is specifically involved in car, home and life insurance, founded in 1968. They are one of the largest names when it comes to insurance. They also operate in Japan, Latin America, Europe, Asia’s Pacific region, and the Middle East.
Website: metlife.com – Market Value: 47.211 Billion Dollars
Sub-Industry: Property & Casualty Insurance
Progressive is an insurance company that comes to mind in car industry. They were founded in 1937 with headquarter located in Mayfield Village, Ohio. They provide insurance for your motorcycles, RVs, boats, commercial vehicles and provide home insurance as well. They’ve been rapidly increasing their offer of car insurance in Australia over the past years.
Website: progressive.com – Market Value: 48.676 Billion Dollars
Sub-Industry: Insurance Brokers
Aon plc is a professional services company that operates all around the world while providing services such as risk, retirement and health solutions. It’s headquarter is located in London, UK. They were created back in 1982 when Ryan Insurance Group and Combined Insurance Company of America were merged together. Aon’s main focus is toward the commercial risk and reinsurance brokerage industry. They are also involved in other businesses such as property investment.
Website: aon.com – Market Value: 53.706 Billion Dollars
Marsh & McLennan
Marsh & McLennan Industry: Insurance Brokers
Marsh & McLennan Companies, Inc. is a multinational insurance brokerage, risk management, reinsurance services, talent management, investment advisory and management consultancy firm that was founded in 1905 and headquartered in New York City, Marsh & McLennan. It works in insurance through its subsidiary companies Marsh, Guy Carpenter and Jardine Lloyd Thompson, and in conjunction with Mercer and Oliver Wyman.
Website: mmc.com – Market Value: 58.686 Billion Dollars
Chubb logoSub-Industry: Property & Casualty Insurance
Finally, the first place of our top 5 list is occupied by Chubb. Chubb Limited is the parent company of Chubb, a global provider of commercial and personal property and casualty insurance, accident and health insurance. They are considered as one of the most powerful insurance companies, especially in terms of insurance products for individuals and those who seek reinsurance coverage. Their earliest work in the industry can be traced all the way back to 1882. They operate in more than 50 countries, headquartered in Zurich, Switzerland.
Website: new.chubb.com – Market Value: 72.611 Billion Dollars
That concludes our Top 5 Insurance Companies in the United States. If you wish to check out more on insurance, don’t forget to take a look at our other articles in Geico declaration page.