9 World’s Biggest insurance companies From United States of America- According to Annual Report of USA Insurance Company in 2021, there are 9 World’s Biggest insurance companies From United States of America (USA). As one of the most populous countries with more than 320 million of people, United States of America still become one of the central economic in insurance industries. With $ 20 trillion of GDP and $ 68 thousand of GDP per capital, USA still has bright future in the Insurance Industries.
Based on the Statista Data, as of 2020, Insurance premiums written in United States of America (USA) reached more than one trillion U.S. dollars. Most of the insurance products is United States of America are home or property insurance, life insurance, health insurance, and automobile insurance. As the country with biggest market of insurance market, there are some of insurance companies coming from United States of America which has huge market in USA and other countries. These companies have primary office in USA and some companies have branch office in other countries.
Here are the rank of biggest insurance companies from United States of America in 2021. The Companies which we observed is public company/ publicly traded company not privately held company or private company. In Public companies, the financial conditions of the company can be observed by public. Meanwhile, in private companies, the public cannot access the financial condition and the company has the right to unpublish the financial condition of company. Therefore, the insurance companies in this article are public companies that has list in Stock Market and has publish the annual report or quarterly report. In this article, the data of financial conditions of insurance companies was obtained from Annual Report in 2021.
Rank of 9 World’s Biggest insurance companies From United States of America Based on Assets
| Rank | Name of Company | Assets | Liabilities |
|---|---|---|---|
| Origin Currency | Origin Currency | ||
| 1 | Metlife Inc | 759 Billion US Dollar | 691 Billion US Dollar |
| 2 | American International Group | 596 Billion US Dollar | 527 Billion US Dollar |
| 3 | New York Insurance Company | 428 Billion US Dollar | 374 Billion US Dollar |
| 4 | CVS Health | 232 Billion US Dollar | 157 Billion US Dollar |
| 5 | UnitedHealth Group | 212 Billion US Dollar | 135 Billion US Dollar |
| 6 | Prudential Financial Inc | 199 Billion US Dollar | 181 Billion US Dollar |
| 7 | Cigna Corporation | 154 Billion US Dollar | 107 Billion US Dollar |
| 8 | Anthem, Inc | 97 Billion US Dollar | 61 Billion US Dollar |
| 9 | Humana, Inc | 44 Billion US Dollar | 28 Billion US Dollar |
| Source : Annual Report, 2021 | |||
The data of financial positions (Assets, Liabilities, and Equities) came from Balance Sheet of the company in 2021. The Asset is the physical and non-physical property that company own while running the business. Meanwhile, Liabilities is the debt or obligation that the company must be paid off in the future. Equities is the difference value between the assets and liabilities.
Rank of 9 World’s Biggest insurance companies From United States of America Based on Net Income
| Rank | Name of Company | Revenue | Net Income |
|---|---|---|---|
| Origin Currency | Origin Currency | ||
| 1 | UnitedHealth Group | 287 Billion US Dollar | 17.7 Billion US Dollar |
| 2 | American International Group | 52 Billion US Dollar | 9.9 Billion US Dollar |
| 3 | CVS Health | 292 Billion US Dollar | 7.9 Billion US Dollar |
| 4 | Metlife Inc | 71 Billion US Dollar | 6.5 Billion US Dollar |
| 5 | Anthem | 138 Billion US Dollar | 6 Billion US Dollar |
| 6 | Cigna Corporation | 174 Billion US Dollar | 5.4 Billion US Dollar |
| 7 | New York Insurance Company | 40 Billion US Dollar | 4.9 Billion US Dollar |
| 8 | Humana Inc | 83 Billion US Dollar | 2.9 Billion US Dollar |
| 9 | Prudential Financial Inc | 26 Billion US Dollar | (-2.8 Billion US Dollar ) |
| Source : Annual Report, 2021 | |||
In other indicators, the rank of the companies can be arranged by net Income. This business performance came from the Income Statement of the Annual Report in 2021. The Income statement describes the business performance of the company in specific time.
Brief Description of 9 World’s Biggest insurance companies From United States of America
1.Metlife Inc
MetLife inc is one of the oldest and the biggest insurance company in the world and United States of America. Historically, the company was founded on March 24, 1868. As of 2021, this company have broad market and costumers in the United States, Japan, Latin America, Asia, Europe, and the Middle East. Geographically, the company has head office in MetLife Building, New York City, USA. In 2021, financially, the company has assets around 759 billion US Dollar and liabilities around 691 billion US Dollar. Based on its performance in 2021, the company gained revenue around 71 billion US Dollar and net income around 6.5 billion US Dollar.
2.American International Group
American International Group, Inc., also known as AIG, is an American multinational insurance corporation. Historically, Cornelius Vander Starr found this company on December 19, 1919. To date AIG provides a wide range of property casualty insurance, life insurance, retirement solutions and other financial services in seventy countries. Based on the financial structure on Balance sheet in 2021, AIG has assets around 596 billion US Dollar with liabilities around 527 billion US Dollar. Based on the business performance in 2021, the company gained revenue around 52 billion US Dollar with net income around 9.9 billion US Dollar.
3.New York Insurance Company
New York Life Insurance Company (NYLIC) is one of the largest insurance companies in the United States. Based on the Balance sheet in 2021, the company has assets around 428 billion US Dollar with liabilities around 374 billion US Dollar. Based on the business performance in 2021, the company gained revenue 40 billion US Dollar with net income around 4.9 billion US Dollar.
4.CVS Health
CVS Health Corporation is diversified health solutions company. Historically, this company was founded in 1963 on by Stanley Goldstein, Sidney Goldstein, and Ralph Hoagland and has around nine thousand area served in United States of America (USA). Financially, in 2021, based on the balance sheet, this company has assets 232 billion US Dollar with Liabilities 157 billion US Dollar. Based on the business performance in 2021, the company gained revenue around 292 billion US Dollar with net income around 7.9 billion US Dollar.
5.UnitedHealth Group
UnitedHealth Group Incorporated is a health care and insurance company that was founded by Richard T. Burke in 1977. Operationally, this company has primary office in Minnetonka, Minnesota, United States. Financially, based on the balance sheet in 2021, the company has Assets around 212 billion US Dollar with Liabilities around 135 billion US Dollar. Furthermore, the company gain revenue around 287 billion US Dollar with Net Income around 17.7 billion US Dollar.
6.Prudential Financial Inc
Prudential Financial or formerly known as “Friendly Assurance Company” was founded in New Jersey in 1875 by John Dryden. The company still has head office in Newark, New Jersey, USA. Based on the financial structure in 2021, the company has assets around 199 billion US Dollar with Liabilities 181 billion US Dollar. Based on the business performance in 2021, the company has Revenue 26 billion US Dollar but suffered net Loss around -2.8 Billion US Dollar.
7.Cigna Corporation
Cigna is multinational healthcare and insurance company. Operationally, this company has primary office in Bloomfield, Connecticut, United States of America. Historically, this establishment of the company occurred in 1982 with the merger between Connecticut General Life Insurance Company (CG) and INA Corporation. Financially, in 2021, the company has assets around 154 billion US Dollar and liabilities around 107 billion US Dollar. Based on the business performance in 2021, the company has revenue around 174 billion US Dollar with Net Income around 5.4 billion US Dollar.
8. Elevance Health, Inc.
Elevance Health, Inc. or formerly known as Anthem Inc, is an American health insurance company which has primary office in Indianapolis, Indiana, United States of America. Historically, it was founded in 2004 after business merger between Anthem and WellPoint Health Networks. In 2021, the company has assets around 97 billion US Dollar and liabilities around 61 billion US Dollar. Based on the business performance in 2021, the company gained revenue around 138 billion US Dollar with net income around 6 billion US Dollar.
9.Humana, Inc
Humana Inc. is an american health insurance company that has primary office in Louisville, Kentucky. Historically, this company was founded by Wendell Cherry on August 18, 1961. In 2021, the company has assets around 44 billion US Dollar and liabilities around 28 billion US Dollar. Based on the business performance in 2021, the company gained the revenue around 83 billion US Dollar with net income around 2.9 billion US Dollar.
Bibliography of 9 World’s Biggest insurance companies From United States of America
Statista. 2021. Insurance industry in the U.S. – statistics & facts. Accessed via https://www.statista.com/topics/3140/insurance-industry-in-the-us/ on June 16, 2023.
UnitedHealth Group. 2022. Annual Report 2021. Accessed via https://www.unitedhealthgroup.com/investors/annual-reports.html on June 16, 2023.
American International Group. 2022. Annual Report 2021. Accessed via https://www.aig.com/investor-relations/annual-reports-and-proxy-statements on on June 16, 2023.
CVS Health. 2022. Annual Report 2021. Accessed https://www.cvshealth.com/news-and-insights/press-releases/cvs-health-reports-results-2021-q4 via on June 16, 2023.
Metlife Inc. 2022. Annual Report 2021. Accessed via https://investor.metlife.com/financials/annual-reports/default.aspx on June 16, 2023.
Elevance Health. 2022. Annual Report 2021. Accessed via https://ir.elevancehealth.com/annual-reports/ on June 16, 2023.
Cigna Corporation. 2022. Annual Report 2021. Accessed via https://investors.cigna.com/financials/annual-reports/default.aspx on June 16, 2023.
New York Insurance Company. 2022. Annual Report 2021. Accessed via https://www.newyorklife.com/report-to-policy-owners on June 16, 2023.
Humana Inc. 2022. Annual Report 2021. Accessed via https://humana.gcs-web.com/financial-information/annual-reports on June 16, 2023.
Prudential Financial Inc. 2022. Annual Report 2021. Accessed via https://www.investor.prudential.com/financials/annual-reports-and-proxy/default.aspx on June 16, 2023.