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    Top 15 Insurance Companies in USA



    Insurance Companies in USA

    Insurance Companies in USA The insurance industry in the United States is massive and highly competitive. Thousands of insurers provide a range of insurance products including health, life, property, auto, business and specialty insurance across the country. According to 2021 data, the insurance industry generated over $1.28 trillion in net premiums.

    Though there are many players, the market is dominated by just a handful of large insurers. Here are the details on the 15 biggest insurance companies in the US by total assets and market share.

    1. UnitedHealth Group

    The largest insurance company in the country, UnitedHealth Group sits on top with over $300 billion in assets and bringing in $287 billion in 2021 revenue. UnitedHealth offers employers-sponsored insurance plans as well as individual health plans under its UnitedHealthcare brand, serving 49 million members. Its Optum division provides health services, technologies and pharmacy care. UnitedHealth, based in Minnetonka, MN, insures 1 in 10 Americans across all 50 states.

    Insurance Companies in USA

    2. Anthem: Insurance Companies in USA

    Second-ranked Anthem provides 55 million members with medical insurance as well as dental, vision, pharmacy, life and disability coverage. Anthem operates Blue Cross Blue Shield plans in 14 states, making it the largest BCBS insurer. Other brands under Anthem include Amerigroup, CareMore and Simply Healthcare. Headquartered in Indianapolis, IN, Anthem posted over $140 billion in revenue in 2021.


    3. CVS Health: Insurance Companies in USA

    Best known its retail pharmacies and pharmacy benefit management, CVS Health also became a major insurer after acquiring Aetna in 2018. This makes CVS Health the third largest insurer with 23 million members. Its integrated pharmacy, health insurance and retail clinic model aims to lower costs and improve access. Based in Woonsocket, RI, CVS Health made $292 billion in revenue in 2021.

    CVS Health

    4. Centene

    Centene specializes in government-sponsored healthcare programs including Medicaid and Medicare. It is the largest Medicaid insurer, providing coverage across all 50 states to nearly 15 million enrollees. Centene’s local health plans focus on affordability combined with technology to improve outcomes. Headquartered in St. Louis, MO, the company had $125 billion in revenue in 2021.


    5. Cigna

    Global health services firm Cigna insures over 175 million customers around the world. In the US, Cigna delivers health, life, accident, dental and disability insurance as well as pharmacy benefit management services. They acquired Express Scripts in 2018, propelling their growth. Cigna posted 2021 revenues of nearly $175 billion. The company is based in Bloomfield, CT.


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    6. Humana

    Headquartered in Louisville, KY, Humana offers Medicare Advantage, Medicare Supplement, Medicare prescription drug and military insurance plans to 16 million members. Dedicated to population health, Humana works closely with providers to enhance care delivery and outcomes. The company made $83 billion in revenue in 2021.


    7. Health Care Service Corporation (HCSC)

    As a mutual legal reserve insurer, HCSC operates on a nonprofit basis serving its policyholders. HCSC runs Blue Cross Blue Shield plans in 5 states – Illinois, Montana, New Mexico, Oklahoma and Texas, covering 16 million lives. Investing in technologies to improve access, affordability and health is central to their strategy. They are headquartered in Chicago, IL.

    Health Care Service Corporation

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    8. Highmark Health

    Providing both health insurance and care delivery, Highmark Health covers 5 million members in Pennsylvania, Delaware and West Virginia. The integrated system includes the Highmark health plan, Allegheny Health hospitals and health networks, HM Insurance Group, United Concordia Dental and more. Based in Pittsburgh, PA, the nonprofit organization brought in $21 billion revenue in 2021.

    Highmark Health

    9. Molina Healthcare

    Molina Healthcare focuses solely on government-sponsored health programs, serving over 5 million Medicaid and Medicare enrollees. With local health plans across 18 states, it aims to provide quality, affordable care. Based in Long Beach, CA, Molina reported $27 billion in revenue in 2021.

    Molina Healthcare

    10. Anthem Blue Cross

    California’s largest health insurer with 4.7 million enrollees, Anthem Blue Cross offers employer-sponsored, individual, Medicare, Medicaid and specialty insurance. It has over 85 years of history in California. Anthem Blue Cross is the key subsidiary under parent company Anthem Inc. Headquarters is in Woodland Hills, CA.

    Anthem Blue Cross

    11. Oscar Health

    Known for using technology to drive consumer-centric health insurance, Oscar Health went public in 2021. They operate in 18 states, covering 1 million members through individual, small group and Medicare Advantage plans. Oscar Health is based in New York, NY.

    Oscar Health

    12. Unum Group

    Unum specializes in group and individual disability, life, accident and critical illness insurance. They are the leading disability insurer in the US and UK. Unum’s life insurance brands include Colonial Life, Provident Life and Accident, and Starmount. Based in Chattanooga, TN, Unum made nearly $12 billion in revenue in 2021.

    Unum Group

    13. USAA

    Insurance Companies in USA Headquartered in San Antonio, TX, USAA provides insurance exclusively for military members and their families. Auto and home insurance accounts for a large portion of their business, but they also offer life, health and investment products. USAA brought in $31 billion in revenue in 2021.


    14. Liberty Mutual

    With roots going back to 1912, Liberty Mutual is now the sixth-largest property and casualty insurer in the country, offering a wide range of P&C, health and life insurance. Based in Boston, MA, Liberty Mutual’s 2021 revenue totaled $48 billion.

    Liberty Mutual

    15. Nationwide

    Insurance Companies in USA Offering a variety of insurance as well as financial services, Nationwide stands as the 7th largest auto insurer in the U.S. Its insurance brands include Nationwide, Scottsdale Insurance, Titan Insurance and Victoria Fire & Casualty. Headquartered in Columbus, OH, Nationwide recorded 2021 revenue of $47 billion.


    In summary, the top 15 health and property insurers in the U.S. insure hundreds of millions of customers and take in hundreds of billions in revenue annually. The largest insurers continue to dominate market share, though new entrants focusing on digital experiences and innovative models shake up the competitive landscape.

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