In the insurance industry, there are thousands of insurance businesses offering goods and services. While some provide several forms of insurance, the majority focus on only one.

The largest ones typically provide various kinds of insurance, including business, health, property and liability, and life insurance. Some have increased their financial and health care offerings.

Only businesses that are directly or through ADRs publicly traded in the United States or Canada are included in this list. Some international businesses could have greater lag times because they report semiannually. All data came from Google Finance and were up to date as of February 18, 2024.

According to 12-Month Trailing Revenue (TTM), these ten insurance companies are the largest.

#1: United Health Group (UNH)

• Revenue (TTM): $94.4 billion
• Net Income (TTM): $5.5 Billion
• Market Cap: $482.4 Billion
• 1-Year Trailing Total Return: 4.5%
• Exchange: New York Stock Exchange

Optum, the company’s health services division, and United Health Care, its insurance division, combine to form United Health Group. In addition to providing insurance and services to around 152 million consumers and 6,400 hospitals and other institutions, United employs about 400,000 workers.

#2: Berkshire Hathaway Inc. (BRK.B)

• Revenue (TTM): $93.2 billion
• Net Income (TTM): $-12.8 Billion
• Market Cap: $879.4 Billion
• 1-Year Trailing Total Return: 31.7%
• Exchange: New York Stock Exchange

A sizable percentage of the many subsidiaries owned by holding company Berkshire Hathaway are insurance firms. Owned by renowned investor Warren Buffet, it is among the biggest corporations globally in terms of market capitalization. Geico, General Re, MLMIC Insurance, United States Liability Insurance, and National Indemnity are a few of its insurance subsidiaries.

#3: CVS Health Corp Group (CVS)

• Revenue (TTM): $89.4 billion
• Net Income (TTM): $2.3 Billion
• Market Cap: $97.03 Billion
• 1-Year Trailing Total Return: -12.9%
• Exchange: New York Stock Exchange

Although CVS is well-known for its pharmacy and medical supplies, it also owns the insurance company Aetna. In an effort to “…transform the consumer health experience and build healthier communities…” it purchased Aetna in 2018. With the ability to provide insurance, medications, and health and wellness goods and services, CVS has developed into a comprehensive provider of healthcare solutions over the years. In 2022, the company’s MinuteClinics and HealthHubs served over 5.5 million individuals, and it employed over 300,000 workers across 8,300 locations.

#4: The Cigna Group (CI)

• Revenue (TTM): $49.0 billion
• Net Income (TTM): $1.4 Billion
• Market Cap: $99.8 Billion
• 1-Year Trailing Total Return: 13.3%
• Exchange: New York Stock Exchange

The Cigna Group describes itself as a provider of worldwide health benefits. Cigna Healthcare and Evernorth Health Services make up its two operational divisions. A number of pharmacy and pharmaceutical solutions, including Express Scripts, Inside Rx, and ScreenRx, are owned by Evernorth. The Group’s insurance division, Cigna Healthcare, offers health insurance to customers, the US Government, and the Group itself.

#5: Elevance Health Inc. (ELV)

• Revenue (TTM): $42.9 billion
• Net Income (TTM): $1.3 Billion
• Market Cap: $120.5 Billion
• 1-Year Trailing Total Return: 3.6%
• Exchange: New York Stock Exchange

The health insurance company Elevance Health has over 47 million subscribers. The business offers Medicare, Medicaid, and individual and group coverage. It also oversees the Federal Employees Health Benefits Program and manages health benefits for the federal government of the United States.
Elevance is divided into three business segments: the Governments Business sector, the Commercial & Specialty Business segment, and the CarelonRx segment, which oversees pharmaceutical benefits.

#6: Centene (CNC)

• Revenue (TTM): $35.2 billion
• Net Income (TTM): $469.0 Million
• Market Cap: $42.1 Billion
• 1-Year Trailing Total Return: 7.3%
• Exchange: New York Stock Exchange

Centene is the biggest Medicare insurer in the United States and a top federal insurance provider.
In many states and areas, Centene provides Medicaid, clinical healthcare, data analytics, pharmacy solutions, behavioral health services, vision and dental care, and specialty providers.

#7: Ping An Insurance (PNGAY)

• Revenue (TTM): $28.8 billion
• Net Income (TTM): $2.3 Billion
• Market Cap: $99.8 Billion
• 1-Year Trailing Total Return: -97.1%
• Exchange: OTC

Ping An Insurance is a financial services and insurance provider with headquarters in China that provides both life and non-life insurance products. Health, auto, property, and casualty insurance are among its non-life insurance offerings. It also makes significant investments in technology development and offers investment management services.

#8: Allianz (ALIZY)

• Revenue (TTM): $26.5 billion
• Net Income (TTM): $2.2 Billion
• Market Cap: $103.9 Billion
• 1-Year Trailing Total Return: 14.4%
• Exchange: OTC

Humana is a health insurance company located in the United States. It offers insurance for customers, military people, Medicare, and Medicaid. The two business divisions of Humana are CenterWell and Insurance. The insurance division provides administrative services as well as medical, dental, and vision insurance. The CenterWell division provides primary care, home, and pharmacy services.

#10: Axa Sa (AXAHY)

• Revenue (TTM): $22.5 billion
• Net Income (TTM): $2.1 Billion
• Market Cap: $70.0 Billion
• 1-Year Trailing Total Return: 9.8%
• Exchange: OTC

International insurance and financial services provider Axa Sa oversees over €932 billion in assets and offers health, life, and property and casualty insurance products. France, Europe, and Asia are where it has its headquarters and conducts business.

Disclaimer:
The information provided in this article is for general informational purposes only and is not intended as financial, legal, or professional advice. While we strive to ensure the accuracy and reliability of the information, travel insurance policies, terms, and coverage details may vary by provider and region. Readers are encouraged to verify details directly with their chosen insurance provider to make informed decisions. We are not affiliate with any of these nor the article is sponsored. Must do your own research while choosing any travel insurance company.