A Firm Foundation: How Insurance Supports the Economy

Domestic Insurance Companies By State, Property/Casualty And Life/Annuities, 2019

 

State Property/casualty Life/annuities State Property/casualty Life/annuities
Alabama 19 6 Montana 12 1
Alaska 4 0 Nebraska 39 34
Arizona 41 28 Nevada 12 0
Arkansas 11 20 New Hampshire 50 1
California 97 14 New Jersey 65 3
Colorado 10 11 New Mexico 15 0
Connecticut 65 26 New York 171 82
Delaware 102 24 North Carolina 55 10
D.C. 7 0 North Dakota 10 3
Florida 115 9 Ohio 148 36
Georgia 23 13 Oklahoma 31 22
Hawaii 16 4 Oregon 17 3
Idaho 10 1 Pennsylvania 159 20
Illinois 194 51 Rhode Island 21 1
Indiana 60 25 South Carolina 21 6
Iowa 73 42 South Dakota 15 2
Kansas 24 11 Tennessee 15 15
Kentucky 8 6 Texas 199 120
Louisiana 33 31 Utah 11 15
Maine 12 3 Vermont 11 1
Maryland 27 4 Virginia 20 3
Massachusetts 47 16 Washington 6 7
Michigan 65 21 West Virginia 19 1
Minnesota 38 8 Wisconsin 164 16
Mississippi 16 13 Wyoming 2 0
Missouri 43 29 United States (1) 2,448 818

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

Source: 2019 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 44 insurance companies domiciled in Alabama, but 1,529 insurers have licenses to do business in the state.

Regulated Insurance Entities By State, 2019

 

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  44 1,473 0 12 1,529
Alaska  6 1,132 0 0 1,138
Arizona  125 1,603 24 26 1,778
Arkansas  53 1,500 0 1 1,554
California  132 1,119 0 44 1,295
Colorado  47 1,476 9 41 1,573
Connecticut  103 1,262 0 26 1,391
Delaware  139 1,348 0 113 1,600
D.C.  49 1,346 0 13 1,408
Florida  428 1,718 14 49 2,209
Georgia  72 1,625 36 0 1,733
Hawaii  43 1,098 10 3 1,154
Idaho  19 1,385 15 2 1,421
Illinois  339 1,420 12 162 1,933
Indiana  136 1,640 20 20 1,816
Iowa  220 1,406 3 0 1,629
Kansas  47 1,526 17 13 1,603
Kentucky  49 1,549 10 0 1,608
Louisiana  107 1,493 24 5 1,629
Maine  22 1,179 18 1 1,220
Maryland  56 1,493 5 12 1,566
Massachusetts  79 1,351 22 4 1,456
Michigan  125 1,381 16 11 1,533
Minnesota  147 1,353 20 22 1,542
Mississippi  43 1,518 0 3 1,564
Missouri  180 1,522 12 9 1,723
Montana  35 1,393 0 5 1,433
Nebraska  107 1,466 6 5 1,584
Nevada  48 1,560 8 6 1,622
New Hampshire  61 1,180 0 3 1,244
New Jersey  120 1,333 51 21 1,525
New Mexico  28 2,836 0 0 2,864
New York  577 1,173 9 84 1,843
North Carolina  94 1,465 3 5 1,567
North Dakota  29 1,358 9 2 1,398
Ohio  256 1,516 0 24 1,796
Oklahoma  75 1,519 4 6 1,604
Oregon  45 1,474 0 6 1,525
Pennsylvania  246 1,601 13 33 1,893
Rhode Island  28 1,312 1 24 1,365
South Carolina  78 1,535 0 11 1,624
South Dakota  36 1,405 0 0 1,441
Tennessee  72 1,597 3 6 1,678
Texas  407 1,590 3 49 2,049
Utah  107 1,754 0 10 1,871
Vermont  108 1,160 0 10 1,278
Virginia  64 1,536 14 13 1,627
Washington  36 1,429 0 9 1,474
West Virginia  30 1,385 1 2 1,418
Wisconsin  335 1,618 0 7 1,960
Wyoming  5 1,403 0 1 1,409
Total U.S. (3) 5,947 (4) 412 934 7,794

(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, 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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