Who is the largest mutual insurance company in the US?
Northwestern Mutual leads the list of the biggest life insurers in the U.S. Find out which other companies made the cut.
According to a 2021 NAIC report, Northwestern Mutual, New York Life, Metropolitan, and Prudential are the four largest life insurance companies in the United States, all together holding 31.09% of the market. Some insurance companies offer riders, which are benefits added to policies, allowing for customization.
1. UnitedHealth Group. UnitedHealthcare, part of UnitedHealth Group, is the largest health insurance company based on revenue. UnitedHealthcare offers a variety of products from individual health insurance to employer plans for some of the biggest corporations.
Northwestern Mutual is the largest life insurance company, according to 2022 NAIC data, holding a little over 7 percent of market share.
| Ranking | P/C insurance company name | 2022 Net premiums written (US $ 000) |
|---|---|---|
| 1 | State Farm Group | 77,760,744 |
| 2 | Berkshire Hathaway Ins | 73,561,832 |
| 3 | Progressive Ins Group | 51,077,621 |
| 4 | Allstate Ins Group | 42,486,332 |
| Ranking | Insurance Company Name | Domicile |
|---|---|---|
| 1 | UnitedHealth Group Incorporated (1) | United States |
| 2 | Centene Corporation (1) | United States |
| 3 | Elevance Health, Inc. | United States |
| 4 | Kaiser Foundation Group of Health Plans | United States |
| Rank | Company | Class of business |
|---|---|---|
| 1 | UnitedHealth Group | Life and health |
| 2 | Ping An Insurance Group | Life and non-life |
| 3 | Allianz | Life and non-life |
| 4 | AXA Group | Life and non-life |
The five largest homeowners insurance companies in the U.S. are State Farm, Allstate, USAA, Liberty Mutual, and Farmers. 6 Together, these companies hold more than 45% of the homeowners' insurance market share.
1762 Equitable Life Assurance Society, the world's oldest mutual life insurer, was formed in England.
What is the richest insurance company in the United States?
Berkshire Hathaway is the leading insurance company by revenue. Insurance companies offer policies for losses due to accidents, health issues, property damage, and professional liability.
1735. Friendly Society, the first insurance company in the United States, was established in Charleston, South Carolina. This mutual insurance company went out of business in 1740.
Medicare is the single largest payer for health care services in the United States.
Health insurance company ratings
Good insurance companies include Blue Cross Blue Shield, UnitedHealthcare, Humana, Aetna and Cigna. The worst-rated health insurance companies are Oscar and Ambetter.
Best insurance company overall: Travelers
Travelers tops our list as the company with the best overall score in 2024 out of the insurers we ranked.
Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the world. It ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue.
MassMutual and Guardian top our list of the best life insurance companies for 2024.
State Farm is the biggest auto insurance company in the country by market share, while Progressive, Geico and Allstate are the next three.
State Farm main competitors are USAA, MetLife, and American Family Insurance. Competitor Summary. See how State Farm compares to its main competitors: MetLife has the most employees (49,000).
Who owns Liberty Mutual?
Liberty Mutual is owned by Liberty Mutual policyholders, since it is a mutual insurance company and its shares are not available to investors on the public market. Among the 10 largest car insurance companies in the U.S., four are mutual insurance companies.
Executive Life Insurance Company (1991) - One of the largest life insurance companies in the US, it went bankrupt due to investment losses in junk bonds.
Biggest 50 insurance companies worldwide May 2023, by market cap. UnitedHealth was to be the largest insurer globally as of May 2023, with market capitalization amounting to approximately 458 billion U.S. dollars. UnitedHealth Group is a healthcare and insurance company headquartered in Minnesota.
In 1996, GEICO became a wholly owned subsidiary of Berkshire Hathaway, headed by Warren Buffett, one of the country's most successful investors. For the past several years, Fortune magazine has named Berkshire's property-casualty insurance operation the most admired in the country.
State Farm is owned by State Farm policyholders. The fact that State Farm is a mutual insurance company means the company is privately owned by the people who purchase its insurance policies, and shares in the company are not available to investors on the public market.
References
- https://www.visitorsinsurance.com/blog/best-medical-health-insurance-for-new-immigrants-or-green-card-holders
- https://www.usatoday.com/money/blueprint/health-insurance/how-much-is-health-insurance/
- https://jamapunji.pk/financial-planning/planning-process
- https://www.opploans.com/oppu/financial-literacy/80-20-budget/
- https://www.investopedia.com/terms/f/financial_plan.asp
- https://visaguide.world/international-health-insurance/health-insurance-us-expats/
- https://fpcanada.ca/docs/default-source/archive/fpsc_definitions_en_web.pdf
- https://guardianlife.custhelp.com/app/answers/answer_view/a_id/83/~/who-can-be-my-beneficiary%3F
- https://www.finance.ucla.edu/corporate-accounting/principles-of-financial-management
- https://eightify.app/summary/personal-finance-and-wealth-building/master-your-finances-with-the-75-15-10-rule
- https://www.libertymutualgroup.com/about-lm/corporate-information/our-business
- https://m1.com/knowledge-bank/personal-finance-101-what-is-a-financial-plan/
- https://www.nerdwallet.com/article/insurance/best-car-insurance-companies
- https://wallethub.com/answers/ci/who-owns-liberty-mutual-insurance-1000045-2140757511/
- https://www.nationalonlineinsuranceschool.com/license-requirements/insurance-license-requirements.php
- https://www.etmoney.com/learn/personal-finance/5-key-aspects-of-personal-finance/
- https://www.investopedia.com/articles/pf/08/evaluate-personal-financial-statement.asp
- https://www.bankrate.com/personal-finance/financial-freedom-survey/
- https://www.nerdwallet.com/article/insurance/best-life-insurance-companies
- https://www.lendingtree.com/car-insurance/largest-car-insurance-companies/
- https://smartasset.com/financial-advisor/financial-planning-explained
- https://www.empower.com/the-currency/life/top-3-inherited-ira-rules
- https://www.quora.com/What-are-financial-mistakes-most-Americans-make
- https://www.insularlife.com.ph/articles/mutual-vs-stock-insurer-where-should-you-buy-insurance-from-00000008
- https://www.score.org/resource/blog-post/3-basic-financial-statements-you-need-keep-track-your-money
- https://www.business.com/articles/6-elements-of-successful-financial-plan/
- https://www.investopedia.com/articles/personal-finance/100516/setting-financial-goals/
- https://www.visitorscoverage.com/insurance/tips-for-uninsured-visitors-to-usa/
- https://www.linkedin.com/pulse/20-most-notable-insurance-carrier-failures-jeff-affronti
- https://www.unfcu.org/financial-wellness/50-30-20-rule/
- https://www.valuepenguin.com/largest-auto-insurance-companies
- https://www.marketwatch.com/guides/insurance-services/largest-car-insurance-companies/
- https://www.forbes.com/advisor/banking/guide-to-50-30-20-budget/
- https://www.nerdwallet.com/article/investing/what-is-a-financial-plan
- https://www.valuepenguin.com/health-insurance/multiplan-review
- https://www.chubb.com/th-en/articles/business/7-steps-to-financial-stability.html
- https://ca.indeed.com/career-advice/career-development/planning-in-management
- https://www.franklintempletonindia.com/investor-education/new-to-investing/video/importance-of-financial-planning
- https://drexel.edu/comptroller/research-accounting/administration/transactionsManagement/
- https://course.uceusa.com/courses/content/405/page_27.htm
- https://time.com/personal-finance/article/50-30-20-rule/
- https://corporatefinanceinstitute.com/resources/accounting/three-financial-statements/
- https://www.collective.com/guides/balance-sheet-vs-income-statement
- https://hagemannwealth.com/what-are-the-six-steps-in-the-financial-planning-process/
- https://www.vacu.org/learn/financial-management/managing-your-money/10-steps-to-financial-success
- https://www.quora.com/Can-a-US-citizen-move-back-home-after-living-abroad-long-term-over-ten-years
- https://en.wikipedia.org/wiki/Liberty_Mutual
- https://www.planningretirements.com/blog/7-steps-financial-planning-process/
- https://www.ignitespot.com/the-four-basic-financial-statements
- https://www.kff.org/racial-equity-and-health-policy/fact-sheet/key-facts-on-health-coverage-of-immigrants/
- https://www.talktomira.com/post/how-much-does-primary-care-cost-without-insurance
- https://en.wikipedia.org/wiki/MetLife
- https://www.skillsyouneed.com/rhubarb/financial-literacy-steps.html
- https://germanna.edu/sites/default/files/2022-05/Accounting%20Financial%20Statements.pdf
- https://www.usnews.com/insurance/auto/best-car-insurance-companies
- https://www.healthcare.gov/medicaid-chip/
- https://quizlet.com/504376166/chapter-5-planning-and-decision-making-concept-questions-flash-cards/
- https://www.investopedia.com/articles/basics/06/financialreporting.asp
- https://creativeplanning.com/international/insights/financial-planning/medicare-for-u-s-expats/
- https://www.cfp.net/ethics/compliance-resources/2019/08/the-first-three-steps-of-the-financial-planning-process
- https://www.principal.com/individuals/build-your-knowledge/step-step-guide-build-personal-financial-plan
- https://www.travelinsure.com/products/visit-usa-healthcare/
- https://www.atlas-mag.net/en/article/forbes-2000-top-20-of-the-largest-insurers-in-2018
- https://www.reinsurancene.ws/worlds-largest-insurance-companies/
- https://www.cms.gov/medicare/enrollment-renewal/health-plans/original-part-a-b
- https://www.acko.com/life-insurance/financial-planning/
- https://cfoallianceinc.com/blog/build-strong-balance-sheet/
- https://quizlet.com/215979186/chapter-1-finance-flash-cards/
- https://www.atlas-mag.net/en/article/historical-background-of-the-insurance-industry-in-the-united-states
- https://www.allianz.com.au/about-us/who-we-are.html
- https://www.cfainstitute.org/en/membership/professional-development/refresher-readings/understanding-balance-sheets
- https://www.investopedia.com/articles/personal-finance/010715/worlds-top-10-insurance-companies.asp
- https://www.iii.org/publications/insurance-handbook/brief-history
- https://smartasset.com/financial-advisor/what-is-a-financial-plan
- https://mint.intuit.com/blog/planning/financial-planning-process/
- https://www.schwab.com/financial-planning-collection/8-components-of-good-financial-plan
- https://cc.nih.gov/participate/_pdf/visa_eng.pdf
- https://www.nerdwallet.com/article/finance/financial-goals-definition-examples
- https://www.thehardinggroup.biz/blog/order-financial-statements/
- https://www.cms.gov/cms-guide-medical-technology-companies-and-other-interested-parties/payment
- https://quizlet.com/50766371/six-steps-to-financial-planning-flash-cards/
- https://accountingware.com/activreporter/blog/elements-of-a-good-financial-design-statement
- http://www.cfothoughtleader.com/wp-content/uploads/2014/04/Hope_ch33-1.pdf
- https://en.wikipedia.org/wiki/Mutual_insurance
- https://www.healthcare.gov/immigrants/lawfully-present-immigrants/
- https://www.bls.gov/ooh/management/financial-managers.htm
- https://www.coursesidekick.com/accounting/study-guides/finaccounting/financial-statements
- https://use.expensify.com/resource-center/guides/how-to-prepare-a-financial-statement
- https://travel.stackexchange.com/questions/175660/what-are-the-consequences-of-a-foreigner-acquiring-medical-debt-in-the-us
- https://www.zippia.com/state-farm-careers-39605/competitors/
- https://www.financestrategists.com/financial-advisor/financial-planning/financial-planning-process/
- https://www.fool.com/the-ascent/small-business/accounting/articles/financial-statement/
- https://www.investopedia.com/ask/answers/022916/what-502030-budget-rule.asp
- https://homework.study.com/explanation/the-two-most-useful-financial-statements-are-and-a-federal-tax-returns-income-and-expense-statements-b-balance-sheets-wills-c-cash-flow-statements-balance-sheets-d-wills-federal-tax-returns.html
- https://www.valuepenguin.com/largest-health-insurance-companies
- https://www.bankrate.com/insurance/life-insurance/largest-life-insurance-companies/
- https://finred.usalearning.gov/assets/downloads/CFS%207%20Intro%20FPW%20SM%201220E1R1.pdf
- https://www.statista.com/statistics/431547/leading-insurance-companies-worldwide-by-market-cap/
- https://www.investopedia.com/articles/personal-finance/092915/biggest-life-insurance-companies-us.asp
- https://www.justanswer.com/estate-law/mr57d-non-u-s-citizen-beneficiary-parental-annuity.html
- https://www.kff.org/report-section/ehbs-2023-section-1-cost-of-health-insurance/
- https://www.rjsanderson.com.au/blog/six-stages-of-financial-planning
- https://planful.com/financial-planning/
- https://www.investopedia.com/ask/answers/050815/what-are-most-important-steps-accounting-cycle.asp
- https://mphdegree.usc.edu/blog/health-insurance-for-immigrants
- https://www.investopedia.com/articles/investing/102413/cash-flow-statement-reviewing-cash-flow-operations.asp
- https://www.legalandgeneral.com/insurance/life-insurance/lifestyle/life-insurance-moving-abroad/
- https://www.bcbs.com/individuals-families
- https://www.valuepenguin.com/best-health-insurance-companies
- https://www.investopedia.com/articles/active-trading/111314/top-10-insurance-companies-metrics.asp
- https://www.investopedia.com/usaa-car-insurance-review-5076168
- https://www.troweprice.com/personal-investing/resources/insights/how-laws-governing-inherited-iras-may-mean-changes-to-your-financial-plan.html
- https://timespro.com/blog/what-are-the-five-major-principles-of-finance
- https://www.reinsurancene.ws/top-100-u-s-property-casualty-insurance-companies/
- https://www.schwab.com/learn/story/3-financial-statements-to-measure-companys-strength
- https://www.quotacy.com/life-insurance-for-non-us-citizens/
- https://wallethub.com/answers/ci/who-owns-state-farm-insurance-1000045-2140730182/
- https://www.accountingtools.com/articles/which-financial-statement-is-the-most-important.html
- https://www.marketwatch.com/guides/insurance-services/geico-vs-progressive/
