A Firm Foundation: How Insurance Supports the Economy

Domestic Insurance Companies By State, Property/Casualty And Life/Annuities, 2020

 

State Property/casualty Life/annuities State Property/casualty Life/annuities
Alabama  19 7 Montana  12 1
Alaska  4 0 Nebraska  46 33
Arizona  47 29 Nevada  9 0
Arkansas  11 20 New Hampshire   49 1
California  96 14 New Jersey 64 3
Colorado  10 13 New Mexico  19 0
Connecticut  65 26 New York  168 81
Delaware  98 25 North Carolina  55 10
D.C. 7 0 North Dakota  10 3
Florida  111 10 Ohio  148 36
Georgia  24 12 Oklahoma  30 22
Hawaii  16 4 Oregon  17 4
Idaho  10 1 Pennsylvania  152 20
Illinois  195 51 Rhode Island  20 1
Indiana  58 24 South Carolina  21 7
Iowa  69 41 South Dakota  16 2
Kansas  23 11 Tennessee  15 14
Kentucky 9 8 Texas  198 121
Louisiana  32 30 Utah  11 16
Maine  11 3 Vermont  11 1
Maryland  27 4 Virginia  19 3
Massachusetts  46 16 Washington  6 7
Michigan 65 19 West Virginia  21 1
Minnesota  39 8 Wisconsin  157 16
Mississippi  16 13 Wyoming  2 0
Missouri  44 29 United States (1) 2,428 821

(1) Excludes territories. Excludes health insurers, risk retention groups, fraternals, title and other insurers.

Source: 2020 Insurance Department Resources Report, published by the National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or redistribution strictly prohibited without written permission of NAIC.

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Licensed insurers by state

An insurance company is said to be “domiciled” in the state that issued its primary license; it is “domestic” in that state. Once licensed in one state, it may seek licenses in other states as a “foreign” insurer (referred to as “licensed out-of-state insurers” in the chart below). An insurer incorporated in a foreign country is called an “alien” insurer in those U.S. states in which it is licensed (not included in the chart). The chart also shows self-insured groups and risk purchasing groups (organizations consisting of firms engaged in similar businesses that band together to purchase commercial insurance). Many insurers do business outside their state of domicile. For example, there are only 49 insurance companies domiciled in Alabama, but 1,558 insurers have licenses to do business in the state.

Regulated Insurance Entities By State, 2020

 

State Domestic insurers (1) Licensed out-of-state
insurers (2)
Chartered self-insured
groups or pools
Chartered
purchasing groups
All companies
doing business in state 
Alabama  49 1,498 0 11 1,558
Alaska  6 1,137 0 0 1,143
Arizona  135 1,616 25 26 1,802
Arkansas  55 1,518 0 1 1,574
California  131 1,280 0 43 1,454
Colorado  50 1,504 9 41 1,604
Connecticut  102 1,271 0 35 1,408
Delaware  139 1,385 0 116 1,640
D.C.  47 1,355 0 15 1,417
Florida  437 1,651 14 48 2,150
Georgia  71 1,629 36 0 1,736
Hawaii  45 1,116 10 3 1,174
Idaho  19 1,376 17 2 1,414
Illinois  340 1,416 12 163 1,931
Indiana  134 1,665 22 20 1,841
Iowa  207 1,419 3 0 1,629
Kansas  45 1,541 17 13 1,616
Kentucky  52 1,563 10 0 1,625
Louisiana  104 1,501 23 2 1,630
Maine  22 1,197 18 1 1,238
Maryland  56 1,513 5 12 1,586
Massachusetts  78 1,386 21 4 1,489
Michigan  125 1,413 16 11 1,565
Minnesota  145 1,405 20 22 1,592
Mississippi  45 1,536 0 3 1,584
Missouri  181 1,546 12 10 1,749
Montana  34 1,412 0 4 1,450
Nebraska  114 1,473 6 5 1,598
Nevada  39 1,567 8 5 1,619
New Hampshire  60 1,237 0 0 1,297
New Jersey  119 1,356 51 22 1,548
New Mexico  32 2,604 0 0 2,636
New York  555 1,179 8 86 1,828
North Carolina  96 1,509 3 5 1,613
North Dakota  29 1,377 10 2 1,418
Ohio  258 1,539 0 25 1,822
Oklahoma  83 1,741 4 5 1,833
Oregon  44 1,453 0 5 1,502
Pennsylvania  238 1,596 13 33 1,880
Rhode Island  29 1,335 1 24 1,389
South Carolina  84 1,558 0 11 1,653
South Dakota  38 1,417 0 0 1,455
Tennessee  70 1,623 3 8 1,704
Texas  406 1,614 2 48 2,070
Utah  112 1,812 0 12 1,936
Vermont  109 1,197 0 9 1,315
Virginia  67 1,575 14 13 1,669
Washington  37 1,438 0 9 1,484
West Virginia  32 1,412 1 2 1,447
Wisconsin  333 1,668 0 7 2,008
Wyoming  4 1,435 1 1 1,441
Total U.S. (3) 5,929 (4) 415 943 7,287

(1) Insurers that are domiciled in the state. Includes property/casualty, life/annuities, health, fraternal, title, risk retention groups and "other".
(2) This category is comprised of insurers designated by the NAIC as "foreign insurers"—i.e., insurers whose state of domicile is other than the state in which it is writing business. There is no U.S. total in this column to avoid double counting—i.e., insurers are only included in the figures for states in which they are domiciled.
(3) Totals include U.S. territories and possessions.
(4) No totals shown, so as to avoid double counting.  Totals reflect insurers physically located in the state.

Source: Insurance Department Resources Report, 2020, published by the National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or redistribution strictly prohibited without written permission of NAIC.

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