Top 10 life insurance companies
The following list shows the top 10 life insurance companies and best life insurance companies in the United States.
MetLife is the largest life insurer in the U.S. and Mexico. The company was founded in 1868 and is one of the top global providers of insurance, annuities, and employee benefit programs. MetLife serves about 100 million clients worldwide and holds leading market positions in the US, Asia, Latin America, Europe, and the Middle East. As of September 15, 2014, MetLife had a market capitalization of about $62.0 billion.
Prudential is a financial services leader with over US$1.1 trillion in assets under management as of July 31, 2014. The company is composed of hundreds of subsidiaries and holds more than $3.5 trillion of life insurance in force globally. In February 2011, it completed the acquisition of AIG Star Life Insurance and AIG Edison Life Insurance Company. The company uses the Rock of Gibraltar as its logo.
Northwestern Mutual Life Insurance Company is the largest direct provider of individual life insurance in US, with $1.5 trillion of life insurance in force. The Company has the highest financial strength ratings awarded to any life insurer by all four of the major rating agencies. Northwestern Mutual is one of the "World's Most Admired" companies according to Fortune magazine.
New York Life Insurance
New York Life Insurance is the oldest and one of the top mutual life insurance companies in the United States with about $287 billion in total assets under management. The company has the highest possible rating “AAA” from leading rating agencies such as Moody's Investor Service, Fitch Ratings and Standard & Poor's.
Massachusetts Mutual Life Insurance
Massachusetts Mutual Life Insurance is one of the top life Insurance companies with over 12 million clients worldwide. The Company currently offers a broad portfolio of insurance, investment and retirement products. But whole life insurance policies continue to be its foundation. As of March 31, 2014, the Company had over $547 billion of worldwide insurance in force and over $640 billion in assets under management.
State Farm is one of top 10 life insurers in the U.S. based on total life insurance in force. It provides life insurance products and annuities through State Farm Life Insurance Company, State Farm International Life Insurance Company and State Farm Life and Accident Assurance Company. As of March 2014, the Company had over $830 billion of life insurance in force.
American International Group (AIG)
AIG is multinational insurance company with about 90 million customers worldwide. AIG Life and Retirement is one of the largest life insurers in the US with over 18 million customers. The Company is #5 in term life insurance and #4 in structured settlements. As of September 15, 2014, AIG had a market capitalization of $79.0 billion.
Lincoln National is a holding company, which operates multiple insurance and retirement businesses. The Company offers variable annuities, universal life insurance, term life insurance, group life insurance, mutual funds, disability and dental insurance. With headquarters in the Philadelphia region, the company had assets under management of approx. $216 billion as of July 31, 2014. Lincoln Financial Group is the marketing name for Lincoln National Corp.
Aflac was established in 1955 and is the leading provider of supplemental insurance in the United States. Its principal business is supplemental health and life insurance through its subsidiary American Family Life Assurance Company. Aflac has a presence in all 50 states and Guam, Puerto Rico, and the Virgin Islands and insures more than 50 million people worldwide. Aflac Japan insures approximately one out of every four Japanese households.
Reinsurance Group of America
Reinsurance Group of America is a leader in the global life reinsurance industry, with about $3.0 trillion of life reinsurance in force and market capitalization of over $5.5 billion as of August 2014. The rating agencies have awarded Reinsurance Group of America strong insurer financial strength ratings: AA- (Standard & Poor's), A+ (A.M. Best) and A1 (Moody’s Investors Service).
Top 10 U.S. Life Insurers by total assets
|Rank||Company||Assets ($b, 12/2013)||Assets ($b, 12/2012)|
|3||John Hancock Financial||289.71||269.855|
|4||AIG Life and Retirement (1)||283.457||275.674|
|5||New York Life||259.512||254.437|
|8||Voya Financial (2)||221.023||216.394|
(1) - AIG Life and Retirement is a division of American International Group.
(2) - Voya Financial was formerly known as ING U.S.
Top 10 life insurance companies in Canada
Below is a list of the top 10 life insurance companies in Canada. Manulife is Canada's largest life insurer with total assets of C$538.873 billion, as of March 31, 2014.
|Rank||Insurance company||Total assets (C$b, December 31, 2013)|
|3||Sun Life Financial||199.531|
|4||Standard Life Canada||48.437|
|5||Industrial Alliance Insurance||44.030|
|6||Desjardins Financial Security||26.541|
|7||Empire Life Insurance Company||12.080|
|9||Transamerica Life Canada||10.022|
|10||RBC Life Insurance Company||9.243|