For you, we are going to share the list of top 10 insurance companies USA, that hold the largest share in market capitalization as of 2024.
Although, Hundreds of insurance companies in the US provide the service nationwide in the life and non-life insurance market. Some of them focus on the specific, while others offer multiple types of insurance.
So, while seeking protection and risk management solutions for yourself or your business, you can review this list of the USA’s largest insurance companies.
Top 10 Insurance Companies USA
These are the largest insurance companies in the US that generally cover all types of insurance including life, property, casualty, health, and business insurance.
State Farm
Being the largest auto insurance provider in the U.S., the company also offers insurance services for home, life, health, and small businesses. State Farm‘s headquarters is located in Bloomington, Illinois. It has an 8.98% share in market capitalization.
Berkshire Hathaway (GEICO)
Berkshire Hathaway (GEICO) has a $798.46 Billion Market Capitalization as of January 19, 2024. Its Headquarters is in Chevy Chase, Maryland. It offers insurance and reinsurance products, covering property and casualty(P&C) risks, and auto insurance.
Progressive Corporation
The Progressive Corporation, one of the largest auto insurance carriers in the US, also offers home, life, pet, and other insurance. As of January 19, 2024, it has a $99.58 billion market capitalization. Its Head office is located in Mayfield Village, Ohio.
Allstate Corporation
One of the largest American insurance companies that offers multi-type insurance products and services including life, non-life, and health insurance. Allstate Corporation also operates in Canada for personal lines insurance operations. it has a $40.53 market capitalization as of January 19, 2024.
USAA (United Services Automobile Association)
USAA offers auto, home, and life insurance exclusively for members of the armed forces, veterans, reserves, and their families. Its headquarters is in San Antonio, Texas, and holds a 3.07% share in market capitalization.
Liberty Mutual
One of the largest mutual insurers in the US provides Auto, home, and business insurance to cover property and casualty risks. Liberty Mutual headquarters is located in Boston, Massachusetts, and has an 8.98 5.17% share in the market capitalization.
Farmers Insurance Group
One of the largest P&C insurance providers in the US has a 3.01% share in market capitalization and Farmer Insurance Group headquarters are in Woodland Hills, California.
Nationwide Mutual Insurance Company
Apart from auto and home insurance, Nationwide provides retirement and investment products and services. It has a 2.32%% share in market capitalization and its Headquarters is located in Columbus, Ohio.
American International Group (AIG)
A multinational finance and insurance corporation offers commercial, life, and general insurance services to individuals and businesses in around 70 countries. American International Group Inc. (AIG), located in New York, has a $48.32 billion market capitalization as of January 19, 2024.
Travelers Companies
Travelers Companies known as Travelers is one of the big players in property casualty insurance for auto, home, and business. It holds a $48.3 Billion Market Capitalization As of January 19, 2024, and its headquarters is in New York.
Lastly
While choosing the top insurance company in the USA, You should read the terms and conditions carefully. So you know how it is better for you than others? Which plan fits you? By comparing policies, you not only pick the suitable one but also can save the money to buy.