5 Largest Insurance Companies In The US by Market Cap

In this article, we are going to look at the 5 largest insurance companies in the US. If you want to read more about the largest American insurance companies by market capitalization and check out our detailed analysis of the US life and non-life insurance market, you can go to 15 Largest Insurance Companies In The US by Market Cap.

5. Marsh & McLennan Companies Inc. (NYSE:MMC)

Market Capitalization: $98.17 Billion

With a market capitalization of $98.17 billion as of January 19, 2024, Marsh & McLennan Companies Inc. (NYSE:MMC) ranks among the top 5 largest insurance companies in the US by market cap. Marsh & McLennan Companies Inc. (NYSE:MMC) is a global professional services firm with businesses in investment advisory, management consulting, risk management, insurance brokerage, and reinsurance services.

4. The Progressive Corporation (NYSE:PGR)

Market Capitalization: $99.58 Billion

The Progressive Corporation (NYSE:PGR) is an American insurance company that offers auto, home, life, pet, and other insurance. As an insurer of passenger vehicles, commercial vehicles, motorcycles, RVs, trailers, and boats, it is one of the largest motor insurance carriers in the US. As of January 19, 2024, The Progressive Corporation (NYSE:PGR) has a market capitalization of $99.58 billion.

3. Elevance Health Inc. (NYSE:ELV)

Market Capitalization: $109.16 Billion

Elevance Health Inc. (NYSE:ELV), previously known as Anthem Inc., is an American health insurance provider. With a market capitalization of $109.16 billion as of January 19, 2024, it ranks third on our list of largest insurance companies in the US by market cap. Through affiliated companies, Elevance Health Inc. (NYSE:ELV) offers medical, dental, pharmaceutical, behavioral health, long-term care, and disability plans.

2. UnitedHealth Group Inc. (NYSE:UNH)

Market Capitalization: $465.75 Billion

UnitedHealth Group Inc. (NYSE:UNH) is an American multinational health insurance and services company that ranks second on our list of largest insurance companies in the US by market cap. It offers health insurance products under UnitedHealthcare. It also owns Optum, which offers healthcare services powered by information and technology. UnitedHealth Group Inc. (NYSE:UNH) provides health coverage, Medicare plans, and Medicaid plans for individuals and families. It also offers health management solutions for small businesses and employers. As of January 19, 2024, UnitedHealth Group Inc. (NYSE:UNH) has a market capitalization of $465.75 billion.

1. Berkshire Hathaway Inc. (NYSE:BRK-B)

Market Capitalization: $798.46 Billion

With a market capitalization of $798.46 billion as of January 19, 2024, Berkshire Hathaway Inc. (NYSE:BRK-B) tops our list of the largest insurance companies in the US by market cap. While the company started out as a textile manufacturer, it was restructured under the leadership of CEO Warren Buffet and now the company’s main business and source of capital is insurance. Berkshire Hathaway Inc. (NYSE:BRK-B) offers insurance and reinsurance products, mainly covering property and casualty risks, through its brands which include auto insurer GEICO and reinsurance firm Gen Re. GEICO, which is a wholly-owned subsidiary of Berkshire Hathaway Inc. (NYSE:BRK-B), is one of the largest auto insurers in the US.

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