Top 10 Insurance Companies in the USA (2025) | Ranking by Revenue, Assets & Market Influence
Table of Contents
- Introduction
- Criteria for Ranking
- Top 10 U.S. Insurance Companies by Total Revenue (2025)
- Top Property & Casualty (P&C) Insurers in the U.S. – Net Premiums Written
- Largest Insurers by Total Assets
- Market Capitalization Leaders in the U.S. Insurance Sector
- Customer Satisfaction Highlights
- Trends Shaping the U.S. Insurance Market
- Conclusion
1. Introduction
The U.S. insurance industry is vast and dynamic, spanning health, life, property, casualty, and specialty lines. Rankings vary depending on whether you measure by revenue, assets, market cap, or customer satisfaction. This article explores the leaders across these metrics as of 2024–2025, providing a comprehensive snapshot of the industry’s most influential players.
2. Criteria for Ranking
To offer a well-rounded view, this article includes:
- Total annual revenue, reflecting company size and scope
- Net premiums written (NPW), particularly for P&C insurers
- Total assets, showcasing financial power
- Market capitalization, indicating investor valuation
- Customer satisfaction ratings, offering insight into consumer experience
3. Top 10 U.S. Insurance Companies by Total Revenue (2025)
Based on the latest rankings (2025), here are the top U.S./North American insurers by annual revenue:
| Rank | Company | Revenue (USD millions) |
|---|---|---|
| 1 | UnitedHealth Group | 400,278 |
| 2 | Cigna Group | 244,384 |
| 3 | Elevance Health (Anthem) | 176,810 |
| 4 | Centene Corporation | 164,855 |
| 5 | Humana Inc. | 117,761 |
| 6 | Berkshire Hathaway Inc. | 97,484 |
| 7 | Progressive Corporation | 71,830 |
| 8 | Prudential Financial, Inc. | 68,240 |
| 9 | Allstate Corporation | 61,167 |
| 10 | MetLife, Inc. | 49,919 |
| (Beinsure) |
UnitedHealth Group leads by a wide margin, primarily through its UnitedHealthcare and Optum segments, making it the largest health insurer in the U.S. and a top global company by total revenue.(Wikipedia, Beinsure)
4. Top Property & Casualty Insurers – Net Premiums Written (2023–2025)
For P&C insurers, net premiums written (NPW) is a key measure of volume. As per recent data:
- State Farm Group – $108B NPW, +16.4%
- Berkshire Hathaway Insurance – $80B, +4.1%
- Progressive Ins Group – $74B, +21.0%
- Allstate Ins Group – $52.7B, +11.2%
- Travelers Group – $41.1B, +8.2%
- Liberty Mutual Ins Cos – $38.5B, –4.9%
- USAA Group – $35.2B, +13.2%
- Chubb INA Group – $25.9B, –0.2%
- Farmers Ins Group – $19.5B, +6.6%
- American Family Ins Group – $17.8B, +7.7%
(Beinsure)
This data underscores State Farm’s dominance in the P&C domain, with Berkshire Hathaway and Progressive trailing closely.
5. Largest Insurers by Total Assets
Asset size indicates financial strength and reserves capacity. As of late 2022:
- Berkshire Hathaway – ~$948B
- Prudential Financial – ~$690B
- MetLife – ~$667B
- American International Group (AIG) – ~$527B
- New York Life – ~$392B
- Others: Northwestern Mutual, Lincoln Financial, MassMutual, State Farm, Principal Financial
(ADV Ratings)
Berkshire Hathaway’s asset base is especially noteworthy, reflecting its vast holdings across insurance, investments, and other sectors.
6. Market Capitalization Leaders
Here’s how the leading U.S. insurers rank by market cap (as of January 2025):
- Berkshire Hathaway – ~$1,012B
- UnitedHealth Group – ~$495B
- Progressive – ~$144B
- Elevance Health – ~$93B
- Cigna Group – ~$85B
- MetLife – ~$60B
- Aflac – ~$60B
- Travelers – ~$57B
- Allstate – ~$50B
- AIG – ~$47B
(ADV Ratings)
This reveals investors’ strong confidence in Berkshire Hathaway, UnitedHealth Group, and Progressive.
7. Customer Satisfaction Highlights
Beyond size metrics, customer trust and satisfaction matter. In 2025:
- Life Insurance (Insure.com):
- Northwestern Mutual
- MassMutual
- New York Life & John Hancock (tie)
- Prudential
(Insure.com)
- Health Insurance (Insure.com):
-
- Kaiser Permanente & UnitedHealthcare (tie)
(Insure.com)
- Kaiser Permanente & UnitedHealthcare (tie)
-
Also, USAA consistently ranks highly in customer satisfaction indices and social impact. In 2025, it held the top spot on the American Customer Satisfaction Index and placed in Forbes’ Top 20 for global social impact.(MySA)
8. Trends Shaping the U.S. Insurance Market
- USAA’s turnaround: In 2024, USAA posted record revenue ($48.6B) and profits ($3.9B), rebounding from earlier losses and adding over one million new members.(San Antonio Express-News, MySA)
- Investors view P&C insurers as oversold: Analysts note that insurers (auto, home, reinsurance) have underperformed due to rate environment, potentially creating buying opportunities.(Barron’s)
- Industry consolidation: Arthur J. Gallagher & Co. completed a historic $13.45B acquisition of AssuredPartners in 2025, marking a major move in U.S. insurance brokerage.(Wikipedia)
9. Conclusion
Summary of Leaders by Key Metrics:
| Metric | Leader(s) |
|---|---|
| Revenue | UnitedHealth Group (health); State Farm (P&C) |
| Net Premiums Written (P&C) | State Farm, Berkshire Hathaway, Progressive |
| Total Assets | Berkshire Hathaway, Prudential, MetLife |
| Market Cap | Berkshire Hathaway, UnitedHealth Group |
| Customer Satisfaction | Northwestern Mutual (life), USAA (overall), UnitedHealthcare (health) |
These companies shape the U.S. insurance landscape, whether through scale, innovation, or customer trust. For SEO, targeting “top U.S. insurance companies 2025” or “largest U.S. insurers by revenue” would align well with this article’s focus.