Top five biggest US insurance companies
Insurtechs are disrupting the market, but insurance giants still rule the roost. And that’s hardly surprising given the age of the industry.
The North American insurance industry began in 1850, when the Franklin Health Assurance Company of Massachusetts offered the first accident and health insurance.
In 1752, first insurance company in the US was born and was called the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire.
By 1851 the industry was well established as New Hampshire created the first formal agency to regulate insurance in the US, and in 1861 First war-risk insurance policies were issued, written by life insurance companies during the Civil War.
Since then, the industry has boomed and according to the latest data, is worth an incredible $9trn.