Largest Insurance Companies: The insurance sector boasts thousands of companies offering various products and services, with some specializing in specific types of insurance while others provide a range of options. The largest players in this industry typically offer a wide array of insurance types, including life, property and casualty, health, and business insurance, with some expanding into healthcare and financial services.
This list focuses on publicly traded companies in the U.S. or Canada, directly or through ADRs, with data accurate as of February 18, 2024, sourced from Google Finance. Here are the top 10 biggest insurance companies based on their 12-Month Trailing Revenue (TTM):
Table of Contents
Largest Insurance Companies:
1. UnitedHealth 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
UnitedHealth Group, comprising UnitedHealthcare and Optum, employs approximately 400,000 individuals and serves around 152 million customers across 6,400 hospitals and facilities Largest Insurance Companies.
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, led by Warren Buffet, owns various subsidiaries, including insurance companies like Geico, General Re, and National Indemnity Largest Insurance Companies.
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
CVS, known for its pharmacies, acquired Aetna in 2018 to expand its healthcare offerings, serving over 5.5 million customers in its Minute Clinics and Health Hubs Largest Insurance Companies.
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 operates Ever north Health Services and Cigna Healthcare, offering various healthcare solutions and insurance services Largest Insurance Companies.
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
Elevance Health provides health insurance plans for individuals and groups, serving about 47 million members and managing pharmacy benefits.
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 specializes in Medicare insurance and offers various healthcare services, including behavioral health, clinical healthcare, and Medicaid.
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, headquartered in China, provides a wide range of insurance products, including life and non-life insurance, in addition to offering 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, headquartered in Germany, provides property, life, and health insurance services across more than 70 countries.
9. Humana Inc. (HUM)
Revenue (TTM): $26.4 billion
Net Income (TTM): $832.0 million
Market Cap: $44.9 billion
1-Year Trailing Total Return: -28.1%
Exchange: New York Stock Exchange
Humana offers health insurance plans for Medicare, Medicaid, military personnel, and consumers, along with pharmacy and primary care solutions.
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, based in France, provides property and casualty, health, and life insurance products, managing assets totaling nearly €932 billion.
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