Updated September 2026: this list was first written in 2014 and titled “Top 10 Insurance Companies In US By Total Assets”, but it never gave the assets or ranked the companies by them. We have added current rankings from NAIC data, corrected facts that have changed since 2014, and kept the original figures with the year they refer to.
Insurance is the transfer of the risk of a loss from one party to another in exchange for a payment, called a premium. It is a form of risk management used to protect against uncertain losses. Many of the largest US insurers are household names, but the biggest ones differ depending on the kind of insurance you look at.
Who is the largest? By premiums written, MetLife was the largest US life and annuity insurer in 2025, with $114.5 billion, and State Farm was the largest property/casualty insurer in 2024, with $109.0 billion, according to NAIC data compiled by S&P Global Market Intelligence and the Insurance Information Institute.
Largest Insurance Companies In The U.S.
This guide covers some of the best-known insurance companies in the United States, with the latest industry rankings to show how they compare.
Insurance companies are usually classified into two groups:
Life insurance companies sell life insurance, pension products and annuities. Property/casualty (or non-life) companies sell other types of insurance, such as auto, home and business cover.
Largest US Insurers by Premiums Written
Premiums written measure how much insurance business a company sells in a year, and they are the standard way the industry ranks insurers.
Life and annuity insurers, 2025
| Rank | Group or company | Direct premiums written | Market share |
|---|---|---|---|
| 1 | MetLife Inc. | $114.5 billion | 9.3% |
| 2 | Equitable Holdings | $95.2 billion | 7.7% |
| 3 | New York Life Insurance Group | $76.1 billion | 6.2% |
| 4 | Athene Holding Ltd. | $54.3 billion | 4.4% |
| 5 | Prudential Financial Inc. | $47.6 billion | 3.9% |
| 6 | Massachusetts Mutual Life Insurance Co. | $44.6 billion | 3.6% |
| 7 | Nationwide | $42.8 billion | 3.5% |
| 8 | Pacific Life | $42.0 billion | 3.4% |
| 9 | Corebridge Financial Inc. | $39.1 billion | 3.2% |
| 10 | Western & Southern Financial Group | $38.8 billion | 3.1% |
Includes life insurance, annuity considerations and deposit-type contract funds; excludes accident and health insurance. Before reinsurance; US total, excluding territories.
Property/casualty insurers, 2024
| Rank | Group or company | Direct premiums written | Market share |
|---|---|---|---|
| 1 | State Farm | $109.0 billion | 10.4% |
| 2 | Progressive | $75.9 billion | 7.3% |
| 3 | Berkshire Hathaway Inc. | $62.3 billion | 6.0% |
| 4 | Allstate Corp. | $55.9 billion | 5.3% |
| 5 | Liberty Mutual | $42.8 billion | 4.1% |
| 6 | Travelers Companies Inc. | $41.9 billion | 4.0% |
| 7 | USAA Insurance Group | $36.1 billion | 3.5% |
| 8 | Chubb Ltd. | $32.3 billion | 3.1% |
| 9 | Farmers Insurance Group of Companies | $28.3 billion | 2.7% |
| 10 | Zurich | $18.5 billion | 1.8% |
Before reinsurance, includes state funds; US total, excluding territories.
Ten Major US Insurance Companies
These are the ten companies on the original 2014 list, with what has changed since.
MetLife
Metropolitan Life Insurance Company, or MetLife, is one of the biggest life insurers in the US and led the 2025 life and annuity rankings by premiums written. It is among the largest global providers of insurance, annuities and employee benefit programs. When this list was first written in 2014, MetLife reported 90 million customers in over 62 countries and more than 66,000 employees.
Prudential Financial
The Prudential Insurance Company of America is part of Prudential Financial, a Fortune 500 company whose subsidiaries provide investment management, insurance and other financial products and services to institutional and retail customers in the United States and, in 2014, in more than 30 other countries. It ranked fifth among US life and annuity insurers by premiums written in 2025.
American International Group
American International Group Inc., known as AIG, is an American multinational insurance corporation. In 2014 it had more than 64,000 employees, served customers in more than 130 countries, and sold life insurance, property/casualty insurance, retirement services and mortgage insurance. AIG has since narrowed its focus: it sold its mortgage insurer, United Guaranty, to Arch Capital at the end of 2016, and separated its life and retirement business as Corebridge Financial, which went public in September 2022 and appears in its own right in the 2025 life and annuity rankings.
TIAA
TIAA, the Teachers Insurance and Annuity Association of America, was known as TIAA-CREF (TIAA – College Retirement Equities Fund) until it shortened its name to TIAA in February 2016. It is a leading retirement provider for people who work in academic, research, medical and cultural fields; in 2014 it was a Fortune 100 financial services organization.
Berkshire Hathaway
Berkshire Hathaway is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, that manages and oversees a number of subsidiary companies. Insurance is at its core: its companies, including GEICO, made it the third-largest US property/casualty insurer by premiums written in 2024.
When this list was first written in 2014, Berkshire wholly owned GEICO, Dairy Queen, Fruit of the Loom, BNSF, Lubrizol, Helzberg Diamonds, FlightSafety International and NetJets, and owned half of Heinz. Heinz merged with Kraft Foods in 2015 to form Kraft Heinz, in which Berkshire held a stake of roughly a quarter.
The Hartford
The Hartford, formally The Hartford Financial Services Group, is a Fortune 500 company and one of America’s largest insurance and investment companies.
The company is headquartered in Hartford, Connecticut. Its 2013 revenues, the latest figure when this list was first written, were $26.2 billion. At that time its earnings were divided between property-and-casualty operations, mutual funds and group benefits.
New York Life Insurance Company
The New York Life Insurance Company, also known as NYLIC, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. It ranked third among US life and annuity insurers by premiums written in 2025. When this list was first written, it ranked 89th on the 2013 Fortune 500, and it reported about $381 billion in total assets and more than $19 billion in surplus and AVR in 2007.
In 2014 NYLIC held the highest possible ratings from four independent rating agencies.
Lincoln National Corporation
Lincoln National Corporation is an American holding company that operates multiple insurance and investment management businesses through subsidiary companies; in 2014 it was a Fortune 250 company.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its subsidiary companies.
State Farm Insurance
State Farm is one of the biggest insurance companies in the US and the largest property/casualty insurer by premiums written, with $109.0 billion in 2024. State Farm is a group of insurance and financial services companies in the United States. It used to operate in Canada as well, but it sold its Canadian businesses to Desjardins Group at the start of 2015.
The group’s main business is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois.
Massachusetts Mutual Life Insurance Company
Massachusetts Mutual Life Insurance Company, known as MassMutual, is an American mutual life insurance company. It ranked sixth among US life and annuity insurers by premiums written in 2025. When this list was first written, it had 1,800 offices and 13 million clients worldwide.
MassMutual is one of the largest life insurance companies in the world. At the time of the original list it was ranked 93rd in the Fortune 500, and in 2010 it reported revenues of $25 billion and assets under management of $448 billion.
Choosing an Insurance Company
Size is useful context, but it is not the same as the right fit. The largest companies by premiums written are simply the ones selling the most insurance. When you choose a policy, compare quotes and coverage terms for the specific insurance you need, and check each company’s financial-strength ratings before you buy.
Sources: NAIC data, sourced from S&P Global Market Intelligence and published by the Insurance Information Institute (top 10 writers of life/annuity insurance, 2025, and of property/casualty insurance, 2024); company announcements and SEC filings from AIG (United Guaranty sale, 2016; Corebridge IPO, 2022), TIAA (name change, 2016) and Desjardins Group (State Farm Canada acquisition, 2015). Historical figures are from the original 2014 version of this article.
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1 Comment
Nice list of insurance companies. Awesome post thanks for sharing this.