The top 10 insurance companies in the United States have a total market value of $1.05 trillion, which is almost one third of the global industry total of $3.231 trillion. Also called market capitalization, investors often use this metric to determine whether a company is a safe or risky investment. The country’s insurance companies make up the largest share of the world’s market capitalization at 45%, leading China’s second – another industry – by a mile. This makes the United States the best choice for investors looking to diversify their portfolios in the insurance sector. If you’re an investor considering adding an insurance company to your portfolio, you’ve come to the right place. If you are a consumer or an insurance agent looking for a reliable place to get insurance or services, you have come to the right place. Here, we will rank the top 10 publicly traded insurers in the country based on market capitalization. Read on and find out who are the largest insurance companies in the United States.
1. UnitedHealth Group
Headquarters: Minnetonka, Minnesota
Market value: $443.30 billion
Expert Writing: Health Insurance
The largest insurance company in the United States based on market capitalization, UnitedHealth Group relies on its strong staff of 85,000 doctors and nurses to provide 7.5 million customers with 150 health and dental benefits. The health insurance giant does this through its two business units, namely:
UnitedHealthcare
With a global network of 6,200 hospitals and more than 1.5 million health and medical professionals, UnitedHealthcare – the insurance business of the group – offers its customers a wide range of health insurance and services. These include:
UnitedHealthcare Health Products: offers affordable coverage through a large network of hospitals and health professionals. Oxford Health: offers customers in New York, New Jersey and Connecticut access to affordable health products.
UnitedHealth Wellness: Company of corporate wellness programs and services. Virtual Visits: Enables consumers to access health services using mobile devices.
Online Services: Provides customers with easy-to-use online applications through the myuhc.com website. Travel Insurance: The company’s selection of health, travel and personal assistance services, available to mobile workers and their dependents.
The best
Optim is the technology division of UnitedHealth Group that provides customers with technical information and services through its three platforms, namely:
Optim Health: provides health and wellness services to more than 102 million customers. Insight Optim: Provides research, analysis, and consulting services to healthcare professionals, government, and life science companies.
Optim Rx: Provides consumers with access to affordable medical products and services.
2. Elevation Health
Headquarters: Indianapolis, Indiana
Market value: $111.37 billion
Expert Writing: Health Insurance
Formerly known as Anthem, Elevance Health assumed its current name in June 2022. It is a health care organization managed by the Blue Cross Blue Shield Association, with a network of 1.7 million doctors and hospitals serving more than 32 million customers.
Elevance offers a wide range of health plans covering medical, dental and eye care. These are available to individuals and their employers, as well as their families through Anthem Blue Cross Blue Shield and Wellpoint subsidiaries. Health insurance policies in the 14 states listed in the table below. Elevance Healthcare Solutions, on the other hand, is distributed through its Carelon brand and other partners.
3. Cigna
Headquarters: Bloomfield, Connecticut
Value: $85.78 billion
Expert Writing: Health Insurance
With 70,000 health care professionals and insurance professionals, Cigna serves more than 190 million customers in 30 countries and territories. It offers a wide range of health and dental insurance policies, including health insurance plans, supplementary health insurance and international health insurance.
Cigna’s products and services are offered through its two business units. These are:
Cigna Healthcare: Provides benefits that help customers improve their health and well-being at every stage of life, from childhood to old age.
Evernorth Health Services: Aims to make treatment and prevention easier by providing customers with access to a variety of health care products and services.
4. Continuous coverage
Headquarters: Mayfield, Ohio
Value: $83.25 billion
Admissions Specialist: P&C Insurance
Progressive Group ranks fourth among the largest insurance companies in the United States based on market capitalization, but it tops the list when it comes to P&C insurers. Advance is well known for its auto insurance plans, writing more than 13 million policies annually.
In addition to auto insurance, major property and casualty insurance companies offer several types of coverage, including:
ship insurance
business insurance
condominium insurance
home insurance
life insurance
animal insurance
Homeowner’s insurance
Cover package
Consumers can get Progressive products directly from an insurer or through its network of more than 30,000 independent agencies across the country. Historically, Progressive is recognized as the first auto insurance company in the world to launch a website. This happened in 1995, when it was considered a revolutionary movement. A year later, customers can compare prices online and can buy car insurance policies online through websites. Current affiliates with successful retail businesses supported by multiple digital platforms include:
The plotters
An independent searcher
Quick reading service
Claims online
Online forecasting and management services
Score Rate – An online comparison tool from Progressive
Continuity Insurance is one of the best insurance companies operating in the United States.
5. Marsh McLennan Enterprises
Headquarters: New York, New York
Value: $80.12 billion
Expertise: Insurance and risk management
Marsh McLennan Company, also known as MMC, is a professional joint venture company with 85,000 employees and a global presence reaching 130 countries. The group operates four businesses, two of which are among the largest insurance companies in the United States and worldwide. These are:
Marsh: The first of MMC’s insurance businesses, Marsh is a risk management and marketing firm known for advising over 95% of Fortune 500 companies. Guy Carpenter: MMC Insurance Group provides research and planning consulting services to clients worldwide.
Oliver Wyman: MMC’s management consulting services enable businesses in different parts of the world. Mercer: a human resources company under MMC that offers programs and services that help companies improve employee engagement.
6. Man
Headquarters: Louisville, Kentucky
Value: $62 billion
Expert Writing: Health Insurance
Humana is a managed care company that offers individuals, employers and those seeking federally approved plans a number of affordable health insurance options, including:
Health insurance plans
Health insurance plans
Group health plan
King’s plan
flight of vision
Medicines
These products are distributed through point of service (POS), health maintenance organizations (HMOs), and regulatory agencies. Humana operates three business units. These are:
Retail: Consists of products sold to individual consumers, including Medicare and Medicaid plans. Groups and Specials: Includes business health plans and special health care benefits designed for individuals and groups.
Health Care Services: Provides health care and wellness solutions – including clinical care, clinical services, and predictive analytics – to individuals, employees and other Humana businesses.