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Life insurance

20 insurers with the largest life insurance market share

By Digital Insurance Staff
June 26, 2024 5:30 AM
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The top five insurance companies in the ranking have an average life insurance market share of 6.07% as of December 31, 2023.

The combined direct premiums written by the top five were more than $58 billion.

Scroll through to see which insurance companies are in the top 20 and how they fared through the end of December 2023.

Source: National Association of Insurance Commissioners

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Primerica ranked 20th with a market share of 1.54%
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Penn Mutual ranked 19th with a market share of 1.55%.
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National Life Group ranked 18th with a market share of 1.57%.
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Globe Life ranked 17th with a market share of 1.60%.
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Mutual of Omaha ranked 16th with a market share of 1.78%.
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AIG ranked 15th with a market share of 1.82%.
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Dai-ichi Life Holdings ranked 14th with a market share of 2.29%.
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Pacific Life ranked 13th with a market share of 2.37%.
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John Hancock ranked 12th with a market share of 2.50%.
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Guardian Life ranked 11th with a market share of 2.51%.
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Minnesota Mutual ranked 10th with a market share of 2.56%.
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Aegon ranked 9th with a market share of 2.64%.
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State Farm ranked 8th with a market share of 2.97%.
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Nationwide ranked 7th with a market share of 3.00%.
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Lincoln Financial ranked 6th with a market share of 4.30%.
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MassMutual ranked 5th with a market share of 4.75%.
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Prudential Financial ranked 4th with a market share of 5.64%.
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MetLife ranked 3rd with a market share of 6.34%.
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Northwestern Mutual ranked 2nd with a market share of 6.74%.
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New York Life ranked 1st with a market share of 6.86%.
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