A Firm Foundation: How Insurance Supports the Economy

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

 

State Property/casualty Life/annuity State Property/casualty Life/annuity
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 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 40 insurance companies domiciled in Alabama, but 1,491 insurers have licenses to do business in the state.

Regulated Insurance Entities By State, 2018

 

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 1,439 0 12 1,491
Alaska  5 756 0 0 761
Arizona  120 1,597 24 24 1,765
Arkansas  56 1,495 0 1 1,552
California  133 1,116 0 45 1,294
Colorado  47 1,468 9 41 1,565
Connecticut  102 1,237 0 26 1,365
Delaware  140 1,339 0 113 1,592
D.C.  50 1,341 0 13 1,404
Florida  432 1,647 14 49 2,142
Georgia  92 1,604 23 0 1,719
Hawaii  47 1,083 10 3 1,143
Idaho  19 1,373 14 2 1,408
Illinois  341 1,409 12 160 1,922
Indiana  140 1,633 16 20 1,809
Iowa  222 1,391 3 0 1,616
Kansas  47 1,517 17 13 1,594
Kentucky  51 1,507 10 11 1,579
Louisiana  105 1,483 22 5 1,615
Maine  22 1,169 18 1 1,210
Maryland  58 1,474 5 13 1,550
Massachusetts  80 1,330 25 4 1,439
Michigan  123 1,369 15 11 1,518
Minnesota  150 1,363 18 22 1,553
Mississippi  43 1,535 0 3 1,581
Missouri  181 1,528 11 9 1,729
Montana  39 1,391 0 5 1,435
Nebraska  104 1,459 6 5 1,574
Nevada  45 1,549 8 5 1,607
New Hampshire  57 1,149 0 3 1,209
New Jersey  119 1,311 50 21 1,501
New Mexico  35 3,356 (3) 5 0 3,396
New York  577 1,170 9 81 1,837
North Carolina  85 1,452 3 4 1,544
North Dakota  30 1,351 8 2 1,391
Ohio  257 1,504 0 24 1,785
Oklahoma  79 1,498 5 6 1,588
Oregon  48 1,455 0 6 1,509
Pennsylvania  251 1,578 14 30 1,873
Rhode Island  31 1,304 1 24 1,360
South Carolina  72 1,595 0 10 1,677
South Dakota  38 1,385 0 0 1,423
Tennessee  72 1,566 3 6 1,647
Texas  410 1,576 6 52 2,044
Utah  103 1,743 0 10 1,856
Vermont  109 1,133 0 8 1,250
Virginia  62 1,526 15 17 1,620
Washington  34 1,290 0 7 1,331
West Virginia  29 1,363 1 2 1,395
Wisconsin  332 1,580 0 8 1,920
Wyoming  5 1,391 0 1 1,397
Total U.S. (4) 5,965 (5) 400 938 81,784

(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) May include double-counting. As of July 1, 2017, NM OSI started using NAIC SBS system and some of the data is combined. For example, title is included in casualty and accident is included with health.
(4) Totals include U.S. territories and possessions.
(5) 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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