The USA Insurance Companies

The USA Insurance Companies
  Some USA Insurance Companies that you Must Know  

This post will provide an overview of the five leading USA insurance companies as well as their key statistics. The five companies covered are American International Group (AIG), Berkshire Hathaway Inc. (BRK-B), Berkshire Hathaway[¹] (BRK-A), Prudential Financial (PRU) and MetLife (MET). I will cover each company's key statistics and metrics in later sections, but first I will start with a brief description of each firm before focusing on its financials.
American International Group (AIG) is the fourth largest insurance company in the world based on revenues and the second-largest insurance group based on total market capitalization. AIG has (2) over 100 million customers in more than 80 countries and 74 million automobiles insured worldwide. The company is
headquartered in New York City and has a presence in all major business markets around the world. It is a leading player in the property and casualty insurance and life insurance markets. AIG has operations in more than 130 countries across the globe.

The USA insurance companies are among the world's largest and most influential. They are responsible for a substantial share of the country's economy and their
products are highly demanded by consumers. The eight largest insurance[¹] companies in the USA are: MetLife, State Farm, Allstate, UnitedHealth Group,
Berkshire Hathaway, Aflac, Prudential Financial, and Anthem. Each company operates in different sectors of the economy and offers a variety of products and
services. While these companies are very different in terms of size, products, and customer bases, they share many common characteristics. Among the U.S. insurance companies, [2] the eight largest companies by revenue in 2017 were: Humana, Aetna, Cigna, Kaiser Permanente, United Health Group, Anthem, WellCare Health Plans, and Blue Cross Blue Shield Plans (Health Affairs).

In 2016, the top 10 insurers in the United States had $632 billion in revenue and employed approximately 449,000 people (Bloomberg). According to Fortune Magazine, the value of health insurance industry in the Unites States increased from $2.6 trillion in 2010 to $3.5 trillion in 2017. In 2017, the eight largest health insurance companies in the United States by revenue were: Humana, (cite) Aetna, Cigna, Kaiser Permanente, UnitedHealth Group, Anthem, WellCare Health Plans, and Blue Cross Blue Shield Plans (Health Affairs).

In 2016, the top 10 insurers in the United States had $632 billion in revenue and employed approximately 449,000 people (Bloomberg). In 2017, the eight largest health insurance companies in the United States by revenue were: Humana, Aetna, Cigna, Kaiser Permanente, United Health Group, Anthem, WellCare Health Plans, and Blue Cross Blue Shield Plans (Health Affairs). In 2018, the largest non-government sponsored [3] U.S. health insurance companies measured by total direct premium collected were: United Health Group, Anthem Inc., Aetna Inc., and Cigna Corp. These companies have a combined market share of over 43% of total insured lives in the U.S. with membership bases exceeding 253 million members (Forbes).


The size of the U.S. health insurance market is projected to increase to about $9 trillion by 2027 from $4 trillion in 2017, driven primarily by changes in healthcare delivery such as cost transparency, the [4] expansion of coverage under the Affordable Care Act, and "a shift away from fee-for-service reimbursement models towards value-based payments" (Finra). The growth of the U.S. health insurance market is primarily driven by the aging of the population and increasing prevalence of chronic conditions such as obesity and diabetes, which will lead to increased utilization of healthcare services. The Affordable Care Act, colloquially known as Obamacare, was introduced to
improve health insurance's affordability for disadvantaged people. However, the costs of insurance have grown since through premiums. Did Obamacare cause this increase, or did it happen independently?

The American Heart Association [5] has recommended strategies to prevent obesity and associated heart disease risks. Some of these include healthy eating, engaging in physical activity and reducing stress. Will these strategies lead to a reduction in the number of obese Americans and the number of preventable deaths associated with obesity-related diseases? The government has funded many programs to help treat and prevent illnesses like diabetes and heart disease. The National Institutes of Health (NIH) [6] has provided in-depth guides and practical advice about obesity.

AIG is the [3] marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. (AIG) and its subsidiaries. The companies composing the AIG network provide a wide range of property and casualty insurance, life insurance, retirement products, Insurance Companies and other financial services to a diverse group of clients. AIG is the largest global insurance (4) company by market capitalization. The company is listed on the New York Stock exchange under the symbol "AIG". The company's current chairman is John F. Strangfeld, and its CEO is Peter Hancock.

 The key statistics of AIG are listed below →  
Revenues: $146.7 billion in 2014; $124.9 billion in 2013; $110.5 billion in 2012; $81.1 billion in 2011; $49.3 billion in 2010; $63.2 billion in 2009; $40.2 billion in 2008; $23.1 billion in 2007; $25.9 billion in 2006; $38.4 billion in 2005; $26.5 billion in 2004; $27.7 billion in 2003; $22.7 billion in 2002; $23.6 billion in 2001; $27.2 billion in 2000; $20.3 billion in 1999; $12.9 billion in 1998; $13.8 billion in 1997; $17.5 billion in 1996; $15.0 billion in 1995; $11.2 billion in 1994; $13.9 billion in 1993; $13.4 billion in 1992; $12.9 billion in 1991; $12.0 billion in 1990; $11.9 billion in 1989; $11.4 billion in 1988; $11.3 billion in 1987; $10.7 billion in 1986; $9.5 billion in 1985; 

$9.1 billion in 1984; $8.8 billion in 1983; $8.4 billion in 1982; $7.8 billion in 1981; $8.0 billion in 1980; $6.8 billion in 1979; $6.0 billion in 1978; $5.2 billion in 1977; $5.2 billion in 1976; $5.0 billion in 1975, $4.3 billion in 1974; $4.0 billion in 1973;
$3.9 billion in 1972; $3.5 billion in 1971; $3.3 billion in 1970; $3.3 billion in 1969; $3.1 billion in 1968, $3.1 billion in 1967, $3.1 billion in 1966; $3.0 billion in 1965, $2.9 billion in 1964; $2.8 billion in 1963; $2.7 billion in 1962; $2.6 billion in 1961; $2.4 billion in 1960, $2.4 billion in 1959; $2.4 billion in 1958, $2.4 billion in 1957; $2.3 billion in 1956; $2.2 billion.

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