A Firm Foundation: How Insurance Supports the Economy

Domestic Insurance Companies By State, Property/Casualty And Life/Annuities, 2018

 

State Property/casualty Life/annuities State Property/casualty Life/annuities
Alabama 19 7 Montana  13 1
Alaska 4 0 Nebraska  36 34
Arizona 40 25 Nevada  11 0
Arkansas 12 24 New Hampshire 48 1
California 99 14 New Jersey 65 3
Colorado 10 10 New Mexico  19 0
Connecticut 64 26 New York  171 82
Delaware 100 25 North Carolina  53 10
D.C. 7 0 North Dakota  11 3
Florida 116 9 Ohio  145 38
Georgia 23 13 Oklahoma  31 24
Hawaii 16 4 Oregon  17 3
Idaho 10 1 Pennsylvania  163 22
Illinois 195 51 Rhode Island  24 2
Indiana 61 26 South Carolina  20 6
Iowa 74 42 South Dakota  15 2
Kansas 25 11 Tennessee  15 10
Kentucky 8 6 Texas  200 123
Louisiana 34 30 Utah  10 17
Maine 12 3 Vermont  12 1
Maryland 29 4 Virginia  19 3
Massachusetts 48 16 Washington  6 6
Michigan 65 21 West Virginia  19 1
Minnesota 39 8 Wisconsin  167 17
Mississippi 15 14 Wyoming  2 0
Missouri 44 28 United States (1) 2,507 841

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

Source: Insurance Department Resources Report, 2019 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 the 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 40 insurance companies domiciled in Alabama, but 1,468 insurers have licenses to do business in the state.

Regulated Insurance Entities By State, 2017

 

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 (3)
Alabama  40 1,417 0 11 1,468
Alaska  5 756 0 1 762
Arizona  117 1,584 25 24 1,750
Arkansas  56 1,489 0 1 1,546
California  132 1,123 0 43 1,298
Colorado  46 1,435 9 40 1,530
Connecticut  103 1,230 0 26 1,359
Delaware  146 1,317 0 108 1,571
D.C.  50 1,344 0 12 1,406
Florida  437 1,665 14 51 2,167
Georgia  89 1,590 21 0 1,700
Hawaii  46 1,074 11 3 1,134
Idaho  17 1,388 13 0 1,418
Illinois  337 1,419 12 150 1,918
Indiana  149 1,623 15 20 1,807
Iowa  220 1,390 3 0 1,613
Kansas  47 1,496 20 14 1,577
Kentucky  56 1,488 12 11 1,567
Louisiana  105 1,500 22 5 1,632
Maine  15 1,148 18 1 1,182
Maryland  61 1,507 5 14 1,587
Massachusetts  81 1,314 25 4 1,424
Michigan  127 1,362 15 11 1,515
Minnesota  152 1,353 18 20 1,543
Mississippi  42 1,516 0 2 1,560
Missouri  178 1,523 11 6 1,718
Montana  40 1,377 0 5 1,422
Nebraska  103 1,442 6 5 1,556
Nevada  45 1,490 8 4 1,547
New Hampshire  58 1,105 0 7 1,170
New Jersey  118 1,317 50 30 1,515
New Mexico  37 2,442 5 0 2,484
New York  577 1,168 11 78 1,834
North Carolina  81 1,423 3 0 1,507
North Dakota  30 1,348 8 2 1,388
Ohio  245 1,497 0 23 1,765
Oklahoma  78 1,479 3 5 1,565
Oregon  49 1,442 0 7 1,498
Pennsylvania  254 1,565 14 30 1,863
Rhode Island  28 1,280 1 23 1,332
South Carolina  75 1,573 0 10 1,658
South Dakota  38 1,388 0 0 1,426
Tennessee  67 1,438 8 6 1,519
Texas  403 1,558 6 53 2,020
Utah  94 1,643 0 10 1,747
Vermont  112 1,688 0 7 1,807
Virginia  66 1,521 15 19 1,621
Washington  35 1,425 0 8 1,468
West Virginia  29 1,355 1 2 1,387
Wisconsin  334 1,553 0 7 1,894
Wyoming  5 1,374 0 1 1,380
Total U.S. (3) 5,855 (4) 408 920 80,832

(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 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, 2018, 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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