The 50 most profitable U.S. insurance companies

This year’s Fortune 500 list reaffirms that insurance companies are some of the most profitable businesses in the U.S.

Fifteen property & casualty insurers on this year’s ranking generated $1 billion or more in profits in 2019, with two surpassing $5 billion in earnings. Just eight property & casualty companies crossed the billion-dollar mark in profits a year prior.

Related: NAIC: Top 25 P&C insurance groups and companies of 2019

The infographic below from HowMuch.net illustrates the 50 most profitable insurance companies in the 2020 Fortune 500. The chart features the 2019 profits for stock and mutual insurance companies in the property & casualty and life and health sectors. The figures only account for annualized profits and do not include surplus or reserve funds.

“There are a lot more small companies in blue making less than $1 billion in annual profit or even less than $500 million,” writes Irena Martincevic for HowMuch.net. “This would suggest that the insurance market across industries like life, health, and property insurance continues to be split among several different players. That’s usually good for competition, which means lower prices for [consumers].”