Top 20 Life Insurance Companies by Market Share in 2024
The top five insurance companies in the ranking have an average life insurance market share of 6.01% as of December 31, 2024. The combined direct premiums written by these top companies were more than $60 billion.
Here’s a breakdown of the top 20 life insurance companies by market share:
- Northwestern Mutual: 6.76% market share, $13,702,182,374 in direct premiums
- MetLife: 6.35% market share, $12,878,475,088 in direct premiums
- New York Life Insurance: 6.35% market share, $12,875,346,775 in direct premiums
- Prudential: 6.15% market share, $12,475,213,351 in direct premiums
- MassMutual: 4.42% market share, $8,957,135,502 in direct premiums
- Lincoln Financial: 4.00% market share, $8,101,991,163 in direct premiums
- Nationwide: 3.59% market share, $7,279,699,603 in direct premiums
- State Farm: 2.93% market share, $5,944,519,655 in direct premiums
- Dai-ichi Life: 2.77% market share, $5,610,251,779 in direct premiums
- Securian Financial: 2.58% market share, $5,239,511,280 in direct premiums
- Guardian: 2.56% market share, $5,186,640,005 in direct premiums
- Pacific Life: 2.56% market share, $5,181,681,592 in direct premiums
- Aegon: 2.52% market share, $5,106,003,169 in direct premiums
- John Hancock: 2.48% market share, $5,028,054,727 in direct premiums
- Mutual of Omaha: 1.84% market share, $3,728,286,271 in direct premiums
- AIG: 1.77% market share, $3,595,985,062 in direct premiums
- National Life Group: 1.68% market share, $3,410,723,997 in direct premiums
- Penn Mutual: 1.59% market share, $3,230,222,287 in direct premiums
- Globe Life: 1.59% market share, $3,217,467,121 in direct premiums
- Primerica: 1.52% market share, $3,089,573,835 in direct premiums
The data is sourced from the National Association of Insurance Commissioners.
