In terms of market share, the type of disability insurance offered by employers accounted for the largest portion in 2021. Because it shields businesses from losses during an employer’s disability, the business overhead expense disability insurance segment is expected to grow at the fastest rate over the projected period.
Geographically, North America led the market in 2021 and is expected to continue to do so during the projected period. The increased investment in expedited claim processing is what propels its expansion. Over the projected period, Asia Pacific is expected to experience significant growth, primarily due to rising awareness of disability insurance benefits.
15 Best Disability Insurance Companies Heading into 2024
15. Mapfre, S.A. (COTC:MPFRY)
As of December 13, the market cap was $6.74 billion.
Mapfre, S.A. (OTC:MPFRY) is a global insurance provider with its main office located in Spain. The organization provides over 31 million clients with a range of cutting-edge solutions. In addition to business insurance, the company offers a wide range of other products, including health, disability, home, travel, and auto insurance. December 13th, Mapfre, S.A. (OTC:MPFRY) is valued at $6.74 billion on the market.
14. Aegon Ltd. (AEG:NYSE)
December 13 market capitalization of $10.87 billion
Multinational life insurance company Aegon Ltd. (NYSE:AEG) is based in the Netherlands. The company’s areas of expertise include financial well-being, asset management, pensions, and retirement. It provides a full range of insurance products, including those for life, house, auto, business, liability, protection, and temporary disability. Aegon Ltd. (NYSE:AEG), with a market valuation of $10.87 billion, is considered one of the top 15 disability insurance providers by 2024.
13. Omaha Mutual of Omaha
Revenue per year by 2022: $11.54 billion
Mutual of Omaha, which is ranked 13th on our list, offers services and products related to life and supplemental health insurance. In addition to disability income insurance, the company provides both short- and long-term disability insurance. Among the company’s main life insurance products are AccumUL Answers, Income Advantage, and Life Protection Advantage. In 2022, Mutual of Omaha recorded $11.54 billion in revenue.
12. The American Guardian Life Insurance Company
Revenue per year by 2022: $12.73 billion
With its headquarters located in New York, The Guardian Life Insurance Company of America is a well-known mutual company. The company provides both individuals and groups with a wide range of reasonably priced long-term and short-term disability insurance products and services. In 2022, the business declared $12.73 billion in revenue. It is ranked 12th overall.
11. Plc Aviva (OTC:AVVIY)
As of December 13, the market cap was $14.81 billion.
Among the top providers of disability insurance is Aviva plc (OTC:AVVIY). The company provides services and products in a number of portfolios, such as investments, retirement, health, insurance, and protection through insurance technology. Life insurance from Aviva plc (OTC:AVVIY) provides coverage for unintentional injuries and disabilities. In the event of an unintentional injury or disability, it also offers income protection. As of December 13, its value was $14.81 billion, placing it at number 11 on our list. Aligned eleventh on our list.
10. (OTC:DCNSF) Dai-ichi Life Holdings, Inc.
December 13 market capitalization of $21.23 billion
Dai-ichi Life Holdings, Inc. (OTC:DCNSF) is a significant life insurance provider. It provides a large selection of products, such as LoanShield, DL EduPro, Smart Shield, Active Care, and EduPro Premier. The group is present in ten nations, including the US. Total permanent disability and accidental death insurance are provided by Dai-ichi Active Care. Dai-ichi Life Holdings, Inc. (OTC:DCNSF) has a market capitalization of $21.23 billion as of December 13. The tenth place on our list goes to it.
9. Generali S.p.A. Assicurazioni (OTC:ARZGY)
December 13 market capitalization of $31.85 billion
Assicurazioni Generali S.p.A. (OTC:ARZGY) is one of Italy’s top insurance providers. The business has operations in over 50 nations worldwide. The company provides disability and accidental injury insurance. The company’s corporate insurance option, Generali’s Group Life, offers term life, critical illness, accidental injury and disability, and 24-hour coverage. With a market valuation of $31.85 billion, Assicurazioni Generali S.p.A. (OTC:ARZGY) is considered one of the top 15 disability insurance providers by 2024.
8. Co., Ltd., China Pacific Insurance (Group) (OTC:CHPXF)
December 13 market capitalization of $35.47 billion
One of China’s top insurance providers is China Pacific Insurance (Group) Co., Ltd. (OTC:CHPXF). Life insurance, disability and accident insurance, property insurance, auto insurance, aircraft insurance, and ship insurance are among the products offered by the company. China Pacific Insurance (Group) Co., Ltd. (OTC:CHPXF) has a $35.47 billion market capitalization as of December 13. On our list of the top 15 disability insurance providers for 2024, it comes in at number eight.
7. Mutual Mass
Revenue per year by 2022: $39.30 billion
MassMutual is a Massachusetts-based provider of life insurance. The company provides retirement services, annuities, long-term care insurance, disability income insurance, and life insurance. Customers can choose from a variety of customized options when purchasing disability insurance from MassMutual, which covers retirement and income protection. In 2022, the business declared $39.30 billion in revenue. 7th place on our list goes to it.
6. Inc. MetLife (NYSE:MET)
December 13 market capitalization of $47.44 billion
Leading insurance provider MetLife, Inc. (NYSE:MET) has its headquarters located in New York. The business operates in a number of industries, such as asset management, insurance, annuities, and employee benefits. It provides insurance against death, accidents, health problems, disability, dental, and legal expenses. The life insurance business of MetLife, Inc. (NYSE:MET) offers services and products for short-term disability insurance. At $47.44 billion in valuation, it will be one of the top 15 disability insurance providers by 2024.
Continue reading here for the top 5 best companies for 2024.
