The insurance sector in the United States is one of the world’s largest. The country’s healthcare system is for-profit, and it lacks a universal public healthcare system. In 2019, insurance firms in the United States underwrote a total of $1.32 trillion in premiums. According to S&P Global, insurance businesses will be able to survive. Because many insurance firms are publicly listed, they can be a smart investment. Berkshire Hathaway Inc, Warren Buffett’s company, owns three insurance companies: National Indemnity, GEICO, and General Re. The float is used by the company to invest in equities and buy other businesses.
Insider Monkey takes a look at the Insurance companies in the US by assets, starting with number 25: The Loews Corporation is an American holding company with a diverse asset portfolio. It owns a majority of CNA Financial Corporation, one of the country’s leading insurance firms. Loews Hotels & Co, Altium Packaging, and Boardwalk Pipelines are among Loews’ subsidiaries. Reinsurance Group of America Inc employs over 2,500 people and has $3.50 trillion in life reinsurance in force. The company, which was founded in 1973, specializes in life and health reinsurance products and services. Guardian Life Insurance was formed in 1860 and now employs 8,000 people, including 3,000 financial representatives. The company is located in New York and operates over 70 insurance companies around the United States. In 1871, Genworth Financial Inc was founded as The Life Insurance Company of Virginia. Over the years, the corporation has gone through a number of mergers and acquisitions. Genworth Financial employs around 3,000 people and focuses on three primary business segments: retirement and protection, international, and mortgage insurance in the United States. The Lutheran Church developed Thrivent Financial, which is one of the few not-for-profit organizations on our list of the largest insurance firms in the United States by assets. It employs over 3,000 people and provides volunteer services as well as donations to those in need. Travelers Companies Inc is based in New York City and was founded in 1853. The corporation is the second-largest writer of commercial property and casualty insurance in the United States, as well as the sixth-largest personal insurance company. Allstate Corporation was created in 1931 as a division of Sears, Roebuck and Co. It was formed in 1993 and went public the following year. National General Insurance was recently purchased for $4.0 billion by the corporation. For more details, click 25 Largest Insurance Companies in the US by Assets.
Unsplash
