In the American economy, insurance companies are key players with their coverage of accidents and hedging risks. Insurance companies in the United States are involved in commercial, business, property, casual, health and life, and reinsurance coverages.
The top insurance companies in the country play a significant role in the economy through the management of risks. These same companies are also engaged in tough competition against each other for market shares in the U.S. and foreign insurers. Other competitions for these top insurance companies include financial companies and banks.
Insurance companies are a pillar of the U.S. economy and will remain in this position for the foreseeable future. Whether they provide property, casualty, or life and health insurance, these companies are in the United States to stay. These are the top 5 insurance companies in the United States.
Marsh & McLennan
Marsh & McLennan is a worldwide professional company that operates in:
- Risk management
- Talent management
- Investment advisory
- Management consulting
- Reinsurance services
- Insurance brokerage
This company started up in 1905 and is headquartered in New York City. Their insurance operation goes through subsidiaries:
- Jardine Lloyd Thompson
- Guy Carpenter
- Consulting is done through Oliver Wyman Group
The Progressive insurance company has a strong foothold in car insurance policies in the United States. It was founded in 1937 and its headquarters are in Mayfield Village, OH. This insurance company offers policies for:
- Commercial vehicles
Progressive has also extended its car insurance coverages to Australia.
MetLife, Inc. is one of the top worldwide providers of employee benefits, annuities, and insurance. Founded in 1968, MetLife offers:
- Commercial mortgages
- Car insurance
- Life insurance
- Home insurance
- Securities backed by commercial mortgages
- Sovereign debt
MetLife operates throughout the United States, Europe, Middle East, Latin America, Japan, and the Asia Pacific region.
The Travelers Companies, Inc. is also known as Travelers and is an insurance company with headquarters in New York. This company is mostly involved with commercial property-casualty insurance policies. As one of the top 5 companies in the country, they operate in business insurance, bonds, and personal insurance. Travelers have expanded their operations to Canada, China, United Kingdom, Ireland, Brazil, and Singapore.
The Allstate Corp. is an insurance company with its headquarters in Northfield Township, IL. It was founded in 1931 and has grown to one of the top and largest publicly traded property-casualty insurance in the United States. It offers:
- Property-casualty insurance
- Auto insurance
- Individual insurance
- Business insurance
- Commercial insurance
- An array of associated insurance products
Allstate Corp. operates nineteen companies in the U.S., Canada, India, and the United Kingdom.
How Insurance Companies are Ranked
Insurance companies have financial ratings. These ratings are how you know how financially stable they are. The more outstanding the financial ratings are the higher they will rank. When you are choosing an insurance company, you will want to know their financial rating before purchasing coverage through them. The financial rating will indicate how well they can pay claims, especially in these times of financial strain.
How to Learn More About Insurance
KBG Insurance & Financial is a faith-based Christian insurance company. We are 100% independent of any one company and have in-depth knowledge of more than just one insurance product. If you need any type of insurance coverage or financial advice, check with our office to learn which policies will best meet your needs.