Top 10 Life Insurance Companies

The United States is the largest life insurance market in the world. There are approximately 780 life insurance companies in the nation with over $20 trillion of life insurance in force. The following list shows the largest life insurance companies in the country.

Prudential Financial

Prudential Financial

Prudential is one of the leading financial services providers in the United States with over $1.4 trillion in assets under management. It is the largest life insurer based on admitted assets and the second-largest by total net life insurance premiums. It is also the 5th in the "Life and Health insurance" category of Fortune's 2019 list of the World's Most Admired Companies. As of March 31, 2019, Prudential reported total assets of $849 billion and shareholders' equity of $55 billion. The company was established in 1875 and is headquartered in Newark, New Jersey.

Metlife

MetLife

Metropolitan Life Insurance Company or MetLife is the second largest life insurance company in the U.S. by assets. It was established in 1868 and is one of the top global providers of insurance, annuities, and employee benefit programs. It serves about 100 million customers worldwide and holds leading market positions in America, Asia, Europe, and the Middle East. The company offers life insurance, accident and health insurance, disability income insurance, auto and home insurance, credit insurance as well as retirement and savings products and other services. At December 31, 2018, Metlife's total assets amounted to $687.5 billion. The company's market capitalization was $45 billion as of May 24, 2019.

New York Life Insurance Company

New York Life Insurance Company

Established in 1845, New York Life is the oldest mutual life insurance company in the country. It is also the third largest life insurer in the nation by assets and direct premiums written. With more than 11,000 employees and 12,250 licensed agents, it offers a wide range of insurance and investment products including term and whole life insurance, long-term care insurance, annuities, pension products, mutual funds, financial planning and other services. Through New York Life International, the company provides life insurance policies in overseas markets. Seguros Monterrey New York Life is the second largest life insurer in Mexico. The company has over 300 billion in total assets, insurance sales of $1.3 billion and assets under management of $572 billion.

Northwestern Mutual

Northwestern Mutual

Northwestern Mutual Life Insurance Company is the largest direct provider of individual life insurance in the U.S., with $1.8 trillion of life insurance in force and 3.9 million people insured through 5.7 million policies. It has the highest financial strength ratings awarded to any life insurer by all four of the major rating agencies. For the fiscal year 2018, Northwestern Mutual reported total revenue of $28.5 billion, premiums of $18 billion, net income of $783 million, total assets of $272 billion and total surplus (including asset valuation reserve) of $26.7 billion.

Lincoln National

Lincoln National Corporation (or Lincoln Financial Group), incorporated in 1968, is a holding company which operates multiple insurance and retirement businesses in the United States. It offers universal and term life insurance, group life insurance, fixed and indexed annuities, mutual funds, disability and dental insurance, retirement planning and other services. In 2018, LNC had consolidated assets of $298 billion, total revenue of $16.424 billion, net profit of $1.641 billion, consolidated stockholders' equity of $14 billion and $240 billion in assets under management. Recently it acquired Liberty Life Assurance Company of Boston. The company is headquartered in the Philadelphia region and employs over 11,000 people. Lincoln Financial Group is the marketing name for Lincoln National Corp.

MassMutual

Massachusetts Mutual Life Insurance Company (MassMutual) is one of the leading life insurers in the U.S. with about 10,000 employees. The company offers a broad portfolio of insurance, investment and retirement products. But whole life insurance policies continue to be its foundation. As of March 2019, MassMutual had about $730 billion of life insurance in force and $700 billion in assets under management.

TIAA

Headquartered in Manhattan, New York City, Teachers Insurance & Annuity Association of America (TIAA) is the leading provider of retirement products and one of top five life insurers in the nation in terms of total assets. The company was founded in 1918 and employs approximately 17,500 people. It was formerly known as TIAA-CREF and changed its name to TIAA in 2016. For the year ended December 31, 2018, it reported total revenues of $30.5 billion, net income of $1.5 billion, insurance and annuity premiums of $16.2 billion and total admitted assets of $303.3 billion. Roger Ferguson (B.A., J.D. and PhD, Harvard University) is President and Chief Executive Officer (CEO) of Teachers Insurance & Annuity Association of America.

John Hancock Financial

John Hancock is the U.S. subsidiary of Manulife Financial Corp, a Canada-based financial services group. John Hancock is one of the top 10 providers of variable and universal life insurance in the United States. It holds top-tier brand awareness ranking with an 86% awareness score with U.S. consumers. The company's products include life insurance, long-term care insurance, 401(k) plans, 529 college savings plans and mutual funds. As of December 2018, John Hancock had assets under management and administration of over $480 billion.

Principal Financial Group

Principal Financial Group (PFG) was established in 1879 and is based in Des Moines, Iowa. It offers a wide range of products and services including disability, life, vision and dental insurance, critical illness and voluntary insurance as well as 401(k) plans, annuities, mutual funds, retirement solutions, wellness programs, asset management, estate planning and bank products. As of December 31, 2018, Principal Financial had total assets of $243 billion and assets under management of $627 billion.