Investor Presentaiton
NAIC
NATIONAL ASSOCIATION OF
INSURANCE COMMISSIONERS
State Insurance Regulation: Key Facts and Market Trends
The primary goal of state regulation is to protect insurance consumers, while recognizing that consumers as well as companies are well
served by efficient, market-oriented regulation of the business of insurance.
OVERVIEW OF THE UNITED STATES INSURANCE MARKET
2022
Insurance Group
Five Largest Insurance Groups in the U.S.
by Direct Premium Written
Direct Premium
Written*
% of Total
Premium
Funds, trusts, and other financial vehicles
U.S. Gross Domestic Product (Millions)
2021
2022
29,567
N/A
UNITEDHEALTH GRP
$220,056,634,079
7.21%
638,501
Insurance carriers and related activities
N/A
METROPOLITAN GRP
$120,586,066,997
3.95%
ELEVANCE HLTH INC GRP
$103,593,396,083
3.39%
CENTENE CORP GRP
$96,779,952,547
3.17%
HUMANA INC
$87,045,174,657
2.85%
$628,061,224,363
Top 5 Total
*Includes Deposit Type Funds and premium written in U.S. territories
from Property, Life, Fraternal, Title, and Health Annual Statements.
Source: National Association of Insurance Commissioners
*Figure is an estimate.
Source: US Department of Commerce, Bureau of Economic Analysis
Securities, commodity contracts, and other
financial investments and related activities
Monetary Authorities- central bank, credit
intermediation, and related services
348,880
N/A
835,722
N/A
Finance and insurance
1,852,670
1,932,937
U.S. Financial Sector Employment
2020
Insurance Carriers and Related Activities
2022
2021
2,419,845 2,449,834 2,520,241
Insurance Carriers
1,216,922
1,200,301 1,221,112
Direct Life and Health Insurance Carriers
641,994
637,235
623,829
Direct Life Insurance Carriers
240,024
233,651
224,738
Direct Health and Medical Insurance Carriers
403,979
405,846
415,025
Securities,
Commodity
Contracts,
Investments
18.83%
Direct Insurers (except Life and Health)
514,994
503,471
515,110
Direct Property and Casualty Insurers
463,586
444,392
456,633
Insurance
Direct Title Insurance Carriers
59,556
66,151
65,005
Carriers and
Related
Other Direct Insurance Carriers
15,957
16,346
17,351
Activities
34.46%
Reinsurance Carriers
19,571
19,443
20,249
Insurance Agencies and Brokerages
1,202,923 1,249,542 1,299,132
Other Insurance Related Activities
351,072
356,126
366,728
Claims Adjusting
56,707
60,144
62,681
Third Party Administration of Insurance Funds
205,640
207,608
209,690
All Other Insurance Related Activities
88,725
88,369
94,364
Securities,
Commodity
Source: U.S. Department of Labor, Bureau of Labor Statistics
Copyright ©2023 National Association of Insurance Commissioners. All rights reserved.
Contracts,
Investments
19.10%
U.S. Gross Dometic Product
Shares of Financial Institutions
By Component, 2021
U.S. Gross Dometic Product
Shares of Financial Institutions
By Component, 2020
Federal
Reserve
Banks, Credit
-Internediation
and Related
Services
45.11%
Funds, Trusts,
and Other
Financial
Vehicles
1.60%
Federal Reserve
Banks, Credit
Internediation
and Related
Services
43.68%
Insurance
Carriers and
Related
Funds, Trusts,
and Other
Financial
Vehicles
1.40%
Activities
35.82%View entire presentation