Based on the market capitalization of US top insurance companies in the insurance industry as of January 7, 2025, UnitedHealth Group is the most valuable insurance company in the US with $473 billion, occupying first place. The important thing is that prior to the Dec. 2024 killing of CEO Brian Thompson of its largest subsidiary (UnitedHealthcare), UnitedHealth’s valuation was above $500 billion, according to Visual Capitalist.
We have selected the top 10 insurance companies in the US with a market value in the billions of dollars. The list includes publicly traded companies published by Visual Capitalist.
US Top 10 Insurance Companies
| Rank | Company Name | Market Cap |
|---|---|---|
| 1 | UnitedHealth Group | $473 billion |
| 2 | PROGRESSIVE | $142 billion |
| 3 | Marsh McLennan | $103 billion |
| 4 | Elevance Health | $88 billion |
| 5 | Cigna | $78 billion |
| 6 | Gallagher | $70 billion |
| 7 | MetLife | $57 billion |
| 8 | Travelers | $55 billion |
| 9 | Allstate | $49 billion |
| 10 | AIG | $45 billion |
The subsidiary that topped the list is the world’s eighth-largest company by revenue, generating $372 billion in its 2024 fiscal year.
The second largest company in the US insurance industry is Progressive, which by the end of 2022 became the largest motor insurance carrier in the United States.And apart from health insurance, it focuses on car insurance.
According to Visual Capitalist, shares of PROGRESSIVE are up 230% over the past five years. And not all insurance companies are growing. Shares of Elevance Health, which ranked fourth on the list, fell more than 20% in 2024 after the company cut its forward earnings guidance.
Marsh McLennan, which ranked third on the list, had consolidated revenue of $5.7 billion in the third quarter of 2024 (NYSE: MMC), an increase of 6% from 2023.
