BizAims

There are a number of companies who rate insurance providers on various financial strength aspects in order to help consumers make more informed decisions. If you’re in the market for insurance, you should look for an organization that’s been around a while, with a proven ability to repay claims if you’re involved in an accident.

After all, it’s a lot more likely an insurer will pay your insurance claim if they’re still in business…

Each state also has a department of insurance that monitors the financial status of insurance companies and regulates their practices.

Here are the the top insurance companies in the United States:

1. Allstate Insurance Company 

The Allstate Corporation is the largest personal lines insurer in the United States (behind State Farm) and the largest that is publicly held. The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993. The company has its headquarters in Northfield Township, Illinois, near Northbrook. Its current advertising campaign, in use since 2004, asks, "Are you in good hands?" The corporate spokesperson is Dennis Haysbert. Allstate sponsors many sporting events, including the Allstate Sugar Bowl, the Allstate 400 at the Brickyard NASCAR race, and the United States Olympic Committee. In 2009, Allstate's total revenue was $32 billion, of which $26.2 billion came from Property Liability.

2. State Farm Insurance Company. State Farm Insurance is a group of insurance and financial services companies in the United States. The corporate headquarters are in Bloomington, Illinois.

State Farm was founded in 1922 by retired farmer George J. Mecherle as a mutual automobile insurance company owned by its policyholders. The company later expanded its services into other types of insurance, such as homeowners and life insurance, in addition to banking and financial services. As of December 2008 State Farm had 67,000 employees and 17,000 agents. March 2009 figures show the group servicing 77 million policies in the United States and Canada, of which over 40,000,000 are for automobiles, and more than 2 million bank accounts.

3. Prudential Insurance Company. 

Prudential plc is a global financial services company headquartered in London, United Kingdom. Its largest division is Prudential Corporation Asia, which has over 15 million customers in 13 Asian markets and is a top three provider of life insurance in Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines and Vietnam. Its Prudential UK division has around 7 million customers and is one of the largest life insurance companies in the UK. It also owns Jackson National Life Insurance Company, which is a major life insurance company in the United States, and M&G Investments, which is a major European fund manager with assets under management of £174 billion.

4. Travelers Insurance Company. It is the largest American insurance company by market value. It is also the third largest writer of U.S. commercial property casualty and the second largest writer of U.S. personal insurance through independent agents. Travelers has headquarters in St. Paul, Minnesota and Hartford, Connecticut with significant operations in New York, New York. It has been a component of the Dow Jones Industrial Average since June 8, 2009. The company has field offices in every U.S. state, plus operations in the United Kingdom, Ireland, Singapore, China, and Canada. In 2010, the company reported revenues of US $25.1 billion and total assets of US $105.2 billion.

5. Fidelity Insurance Company. An American private, family-owned life insurance company. It provides voluntary life, supplemental health insurance products (cancer, disability, life, long term care, and hospital indemnity and supplement) and tax deferred annuity. It operates in US and 20 other countries with headquarters in Oklahoma City, OK. AFA is a subsidiary of American Fidelity Corporation, which is owned by the founding Cameron family in 1960. The company was ranked #46 in 2009 Fortune's 100 best companies to work for. Number of insured more than a million customers in 49 states of the US and in 23 countries. Since 1982, AFA has consistently been rated “A+” by A. M. Best. Estimated sales in 2007 - $360600000. 1400 employees in 2009 in 26 locations across the USA. Chairman and CEO Bill Cameron. Mission Statement: American Fidelity provides supplemental health insurance benefits and financial services to education employees, auto dealerships, health care providers and municipal workers across the United States.

6. MetLife Insurance Company. Metropolitan Life Insurance Company offers life insurance, annuities, auto and home insurance, retail banking, and other financial services to individuals, as well as group insurance, and retirement and savings products and services to corporations and other institutions. The company also provides accident and health insurance, and reinsurance products. It offers its products through agents and direct marketing channels, as well as through third-party distributors, such as banks and brokers. The company was founded in 1868 and is headquartered in Long Island City, New York with operations in Argentina, Brazil, Chile, Mexico, the United States, Uruguay, Australia, China, Hong Kong, India, Japan, Korea, Taiwan, Belgium, Poland, and the United Kingdom. Metropolitan Life Insurance Company operates as a subsidiary of MetLife, Inc.

7. Farmers Insurance Company. The Farmers Insurance Group of Companies is a personal lines property and casualty insurance group providing homeowners insurance, auto insurance, life insurance, and financial services in the United States. It is the third largest insurance group in the US servicing over 10 million households in 41 states. Farmers Group Inc. is headquartered in Los Angeles, California but is 100% owned by Zurich Financial Services based in Zurich, Switzerland.

8. AIG Insurance Company

9. MassMutual Insurance Company

10. The Hartford Insurance Company