Thousands of insurance firms offer goods and services in the insurance industry. The majority specialize in certain forms of insurance, while some provide a variety of options. The bigger ones often provide all sorts of insurance, including life, property and casualty, health, and business insurance. Some have extended into healthcare and financial services.
This list only includes firms that are publicly traded in the United States or Canada, either directly or through ADR. Some overseas corporations may report semiannually, which may result in lengthier lag periods. All data are current as of February 18, 2024, and were obtained from Google Finance.
These are the ten largest insurance companies based on 12-month trailing revenue (TTM).
1: United Health Group (UNH)
- Revenue (TTM): $94.4 billion
- Net Income (TTM): $5.5 Billion
- Market Cap: $482.4 Billion
- 1-Year Trailing Total Return: 4.5%
- Exchange: New York Stock Exchange
The insurance company United Health Care and the health services company Optum are combined to become United Health Group. About 152 million clients, 6,400 hospitals, and other facilities get insurance and services from United, which employs about 400,000 people. UnitedHealth Group, Inc. UnitedHealth Group Announces 2023 Performance
2: Berkshire Hathaway Inc. (BRK.B)
- Revenue (TTM): $93.2 billion
- Net Income (TTM): $-12.8 Billion
- Market Cap: $879.4 Billion
- 1-Year Trailing Total Return: 31.7%
- Exchange: New York Stock Exchange
Berkshire Hathaway is a holding corporation that has multiple subsidiaries, the majority of which are insurance businesses. It is one among the world’s largest firms by market capitalization and is controlled by renowned investor Warren Buffet. Some of its insurance subsidiaries include Geico, General Re, MLMIC Insurance, United States Liability Insurance, and National Indemnity.
3: CVS Health Corp Group (CVS)
- Revenue (TTM): $89.4 billion
- Net Income (TTM): $2.3 Billion
- Market Cap: $97.03 Billion
- 1-Year Trailing Total Return: -12.9%
- Exchange: New York Stock Exchange
Although CVS is best known for its pharmacy and medical supplies, it also owns the insurance company Aetna. 2018 saw the company purchase Aetna as part of its efforts to “…transform the consumer health experience and build healthier communities…” With the capacity to provide insurance, prescription drugs, and goods and services related to health and wellbeing, CVS has evolved throughout time into a comprehensive provider of healthcare solutions. In 2022, the firm serviced over 5.5 million individuals through its MinuteClinics and HealthHubs, with over 300,000 workers spread throughout 8,300 sites.
4: The Cigna Group (CI)
- Revenue (TTM): $49.0 billion
- Net Income (TTM): $1.4 Billion
- Market Cap: $99.8 Billion
- 1-Year Trailing Total Return: 13.3%
- Exchange: New York Stock Exchange
The Cigna Group describes itself as a worldwide healthcare benefits provider. It is divided into two operating segments: Evernorth Health Services and Cigna Healthcare. Evernorth is the parent company of various pharmaceutical and pharmacy solutions, including Express Scripts, Inside Rx, and Screen Rx. Cigna Healthcare is the Group’s insurance division, which offers health insurance to the Group, the United States Government, and individuals.
5: Elevance Health Inc. (ELV)
- Revenue (TTM): $42.9 billion
- Net Income (TTM): $1.3 Billion
- Market Cap: $120.5 Billion
- 1-Year Trailing Total Return: 3.6%
- Exchange: New York Stock Exchange
A health insurance company called Elevance Health has over 47 million subscribers. The firm offers Medicare, Medicaid, and programs for both people and groups. In addition, it oversees the Federal Employees Health Benefits Program and manages health benefits for the federal government of the United States.Six
The Commercial & Specialty Business sector, the Governments Business segment, and the CarelonRx business—which oversees pharmaceutical benefits—are Elevance’s three operating segments.
6: Centene (CNC)
- Revenue (TTM): $35.2 billion
- Net Income (TTM): $469.0 Million
- Market Cap: $42.1 Billion
- 1-Year Trailing Total Return: 7.3%
- Exchange: New York Stock Exchange
Centene is a significant federal insurance provider and the largest Medicare insurer in the United States.7 Centene, via specialist providers, provides mental health services, clinical healthcare, data analytics, pharmaceutical solutions, vision and dental services, and Medicaid in various states and locations
7: Ping An Insurance (PNGAY)
- Revenue (TTM): $28.8 billion
- Net Income (TTM): $2.3 Billion
- Market Cap: $99.8 Billion
- 1-Year Trailing Total Return: -97.1%
- Exchange: OTC
Ping An Insurance is a financial services and insurance provider with headquarters in China that provides both life and non-life insurance. Its non-life insurance offerings include banking, property, casualty, car, and health insurance. It also makes significant investments in technological development and offers investment management services.
8: Allianz (ALIZY)
- Revenue (TTM): $26.5 billion
- Net Income (TTM): $2.2 Billion
- Market Cap: $103.9 Billion
- 1-Year Trailing Total Return: 14.4%
- Exchange: OTC
Allianz is a global insurance and asset management company headquartered in Germany. It serves approximately 122 million users throughout 70 countries. It offers property, life, and health insurance and manages over €1.7 trillion ($1.8 trillion) in assets for its clients.
9: Humana Inc. (HUM)
- Revenue (TTM): $26.4 billion
- Net Income (TTM): $832.0 Million
- Market Cap: $44.9Billion
- 1-Year Trailing Total Return: -28.1%
- Exchange: New York Stock Exchange
A US-based health insurance company is called Humana. It offers insurance for customers, military people, Medicare, and Medicaid. Humana is divided into two business segments: CenterWell and Insurance. Administrative services and medical, dental, and vision insurance are provided by the insurance section. Primary care, home health, and pharmacy services are provided by the CenterWell division.
10: Axa Sa (AXAHY)
- Revenue (TTM): $22.5 billion
- Net Income (TTM): $2.1 Billion
- Market Cap: $70.0 Billion
- 1-Year Trailing Total Return: 9.8%
- Exchange: OTC
Axa Sa is a worldwide insurance and financial services firm that offers property and liability, health, and life insurance products and manages over €932 billion in assets. It has its headquarters in France and operates throughout Europe and Asia.12