What are the top 10 insurance companies in the US?
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 is the biggest auto insurance company in the country by market share, while Progressive, Geico and Allstate are the next three.
- #1: United Health Group (UNH)
- #2: Berkshire Hathaway Inc. ( BRK.B)
- #3: CVS Health Corp Group (CVS)
- #4: The Cigna Group (CI)
- #5: Elevance Health Inc. ( ELV)
- #6: Centene (CNC)
- #7: Ping An Insurance (PNGAY)
- #8: Allianz (ALIZY)
Based on our research, Geico offers the best car insurance in California. Progressive, USAA, State Farm and Allstate are also reliable options for most drivers. *Our research team considers nationwide factors when rating providers. The ranking order of providers in this table is specific to car insurance in California.
Five independent agencies—A.M. Best, Fitch, Kroll Bond Rating Agency (KBRA), Moody's and Standard & Poor's—rate the financial strength of insurance companies. Each has its own rating scale, its own rating standards, its own population of rated companies, and its own distribution of companies across its scale.
| Company | Learn More | |
|---|---|---|
| #1 | USAA » 4.4 U.S. News Rating | Compare Quotes » (855) 939-3108 |
| #2 | American Family » 4.3 U.S. News Rating | Compare Quotes » |
| #3 | State Farm » 4.2 U.S. News Rating | Compare Quotes » |
| #4 (tie) | Geico » 4.1 U.S. News Rating | Compare Quotes » |
| Rank 2022 | Companies | Turnover (1) |
|---|---|---|
| 2021 | ||
| 1 | State Farm | 70.31 |
| 2 | Berkshire Hathaway | 51.6 |
| 3 | Progressive | 47.76 |
| Rank | Company | Total assets (US$ Billion) |
|---|---|---|
| 1 | Allianz | 1,261.9 |
| 2 | Axa | 950.6 |
| 3 | Prudential Financial | 940.7 |
| 4 | Ping An Insurance | 883.9 |
- Best for affordability: Geico.
- Best for customer satisfaction: State Farm.
- Best for wide coverage: Nationwide.
- Best for minimum coverage: Auto-Owners.
- Best for discounts: Amica.
- Best for high-risk drivers: Progressive.
- Best for military members and veterans: USAA.
| Rank | Company | Country |
|---|---|---|
| 1 | UnitedHealth Group | United States |
| 2 | Ping An Insurance Group | China |
| 3 | Allianz | Germany |
| 4 | AXA Group | France |
Who is State Farm's biggest competitor?
Who is State Farm's biggest competitor? State Farm is the largest car insurance company with $46.7 billion in premiums written in 2022. Its largest competitor is Progressive, with $38.9 billion in written premiums.
For auto policies, State Farm is the largest insurance company in the U.S., with the biggest market share (16.9 percent) and over $46.6 million in direct premiums written in 2022. It also boasts an A++ (Superior) financial strength rating from AM Best.
- #1 State Farm: Editor's Choice. ...
- #2 Geico: Affordable for Most Drivers. ...
- #3 Progressive: Low Rates for High-Risk Drivers. ...
- #4 Allstate. ...
- #5 USAA: Low Rates for Military. ...
- #6 Liberty Mutual: Good Programs for Young Drivers. ...
- #7 Farmers Insurance. ...
- #8 Travelers: Most Coverage Options.
USAA is also known as a customer service leader. Its score of 890 in J.D. Power's 2022 U.S. Auto Insurance Customer Satisfaction Study would have placed it at the top of the rankings (J.D. Power scores USAA but does not officially rank the company due to its exclusive customer base).
- New York Life: A++, stable outlook.
- Mass Mutual: A++, stable outlook.
- State Farm: A++, stable outlook.
- Geico: A++, stable outlook.
- Private Mortgage Insurance. ...
- Extended Warranties. ...
- Automobile Collision Insurance. ...
- Rental Car Insurance. ...
- Car Rental Damage Insurance. ...
- Flight Insurance. ...
- Water Line Coverage. ...
- Life Insurance for Children.
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.
State Farm is the cheapest car insurance company overall according to NerdWallet's analysis, with an average rate of $39 a month for minimum coverage.
Geico is not owned by Progressive. Berkshire Hathaway owns Geico, while the Progressive Corporation is an independent company. Progressive is the second-largest auto insurance company in the U.S., according to the NAIC.
Who is the biggest insurance companies USA?
- Prudential Financial Inc. (NYSE:PRU) ...
- Centene Corporation (NYSE:CNC) Market Capitalization: $39.61 Billion. ...
- The Allstate Corporation (NYSE:ALL) ...
- Travelers Companies Inc. ...
- American International Group Inc. ...
- Aflac Inc. ...
- Humana Inc. ...
- Metlife Inc.
The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021. Progressive was founded in 1937 by Joseph Lewis and Jack Green. In 1965, Peter B.
Berkshire Hathaway was the largest insurance company in the United States in 2022, with total assets amounting to almost 950 billion U.S. dollars. Prudential Financial and Metlife secured second and third place, respectively. Who are Prudential Financial?
| 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 |
While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.
