Fortune magazine recently released its 62nd annual Fortune 1000 list, which ranks U.S. companies by revenues and has long been consider a benchmark for business success. Over 30 property and casualty-related companies made the cut this year.
In total, the 2016 Fortune 500 companies (the more commonly referenced subset of companies) represent two-thirds of the U.S. gross domestic product with $12 trillion in revenues, $840 billion in profits, $17 trillion in market value, and 27.9 million people employed worldwide.
Among the companies that fell off the Fortune 1000 list this year? Chubb. Now the largest casualty insurer in the United States, Chubb is no longer incorporated in the United States, and therefore, not eligible for the list. Chubb was acquired this past year by Zurich-based ACE, another insurance provider, in the largest insurance merger and acquisition deal to date.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
