5 Biggest Health Insurance Companies in the World

2. Elevance Health, Inc. (NYSE:ELV)

TTM Total Revenue:  $156.60 billion

Elevance Health, Inc. (NYSE:ELV), formerly known as Anthem, Inc., is an Indianapolis, Indiana-based provider of health insurance.

The company occupies the second position on the Forbes total health plan enrollment list for 2021, with a total of 4,670,236 plans sold under the Anthem and Wellpoint brand. The company provides its insurance services through a network of 100,000 associates. On February 23, an analyst at JPMorgan increased the target price for Elevance Health, Inc. (NYSE:ELV) from $555 to $572 and reiterated an Overweight rating on the stock. The analyst thinks that the companies in the managed healthcare group are in a strong position to sustain operational efficiency post-Q4 2022.

Here’s what Baron Funds said about Elevance Health, Inc. (NYSE:ELV) in its Q4 2022 investor letter:

“Performance in managed health care was bolstered by Elevance Health Inc. (NYSE:ELV), which operates as a health benefits company. Elevance’s shares rose in response to strong quarterly results and raised guidance driven by solid medical cost management, pharmacy benefit manager strength, and healthy enrollment growth.”