Life insurance in the United States - statistics & facts

Who are the market leaders?

Some of the largest life insurance companies in the United States by market capitalization include MetLife, American International Group (AIG), and Prudential Financial. In 2021, MetLife generated total revenues worth almost 30 billion U.S. dollars on the domestic market – significantly higher than revenues generated in other regions/segments. In the same year, the net income of American International Group (AIG) reached just over 14.6 billion U.S. dollars. As of 2020, Milwaukee-based Northwestern Mutual had the highest market share of life insurance companies in the U.S.

How has the life insurance industry changed over time?

In the United States, the life insurance industry is regulated at the state level, which means that each state has its own rules about, purchasing, maintaining, and claiming life insurance. The total number of policies in force across the U.S. as of 2020 exceeded 254 million – down from around 335 million policies in force in 2008. Similarly, the total number of life insurance companies in operation in the United States has also decreased over time.

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