Install
Shareholder-owned life insurers
- Mutual life insurers 17
- Shareholder-owned life insurers 20
- P&C-affiliated life insurers 12
- Farm Bureau life insurers 7
- Fraternal benefit societies 6
- Final expense and senior market specialists 9
- Worksite and supplemental insurers 7
- Annuity and retirement specialists 12
- Closed-block and legacy administrators 8
- Health insurer life affiliates 2
| # | Insurer | Type | Market share (2024) | AM Best |
|---|---|---|---|---|
| 4 | PrudentialNewark-based public insurer (NYSE: PRU) founded in 1875, selling term, universal, indexed and variable life through advisors, brokers and online. | Shareholder-owned life insurers | 5.11% | A+ (Superior) |
| 5 | Lincoln FinancialPublic insurer (NYSE: LNC) founded in 1905, selling term, indexed and variable universal life and MoneyGuard hybrid long-term care policies through advisors. | Shareholder-owned life insurers | 4.07% | A (Excellent) |
| 7 | Protective LifeBirmingham-based term and universal life insurer owned by Japan's Daiichi Life since 2015, and a major buyer of other companies' policy blocks. | Shareholder-owned life insurers | 3.53% | A+ (Superior) |
| 9 | John HancockBoston-based U.S. arm of Canada's Manulife, sold through financial professionals and known for its Vitality wellness program and universal life. | Shareholder-owned life insurers | 3.17% | A+ (Superior) |
| 10 | TransamericaAegon's U.S. life and retirement company, selling term, indexed universal and final expense coverage through agents, including its WFG network. | Shareholder-owned life insurers | 3.03% | A (Excellent) |
| 13 | Corebridge FinancialAIG's former life and retirement arm, issuing policies as American General Life; now independent and set to merge with Equitable Holdings by end of 2026. | Shareholder-owned life insurers | 2.28% | A (Excellent) |
| 16 | PrimericaA term-only life insurer sold through more than 150,000 independent, mostly part-time representatives who also offer investments to middle-income families. | Shareholder-owned life insurers | 1.98% | A+ (Superior) |
| 18 | EquitableA New York insurer founded in 1859 that sells term, indexed and variable universal life through its own advisors and brokers; merging with Corebridge Financial. | Shareholder-owned life insurers | 1.78% | A (Excellent) |
| 19 | Globe LifeTexas group selling small no-exam life policies by mail and online, plus agent-sold American Income Life, Liberty National and Family Heritage coverage. | Shareholder-owned life insurers | 1.68% | A (Excellent) |
| 22 | Principal Financial GroupDes Moines insurer that quit selling life insurance to retail consumers in 2021; it now sells to business owners and executives and services older policies. | Shareholder-owned life insurers | 1.28% | A+ (Superior) |
| 27 | Banner LifeA large U.S. term life specialist, long sold as Legal & General America and owned since February 2026 by Japan's Meiji Yasuda; William Penn serves New York. | Shareholder-owned life insurers | 1.06% | A (Excellent) |
| 30 | RiverSourceAmeriprise Financial's insurer, formerly IDS Life, selling mostly variable universal life plus term, indexed UL and annuities through Ameriprise advisors. | Shareholder-owned life insurers | 0.75% | A+ (Superior) |
| 37 | SymetraBellevue, Washington insurer owned by Japan's Sumitomo Life since 2016, selling term and indexed universal life via agents, plus annuities and group benefits. | Shareholder-owned life insurers | 0.59% | A (Excellent) |
| 48 | AuguStar Life (formerly Ohio National)Cincinnati insurer formerly Ohio National, renamed AuguStar Life in 2023; owned by Constellation (La Caisse and Ontario Teachers'), focused on indexed life. | Shareholder-owned life insurers | 0.44% | A (Excellent) |
| 51 | Investors Preferred LifeA small South Dakota carrier that writes only private placement life insurance and annuities for accredited, ultra-wealthy investors through their advisors. | Shareholder-owned life insurers | 0.42% | A- (Excellent) |
| 54 | Axcelus FinancialFormerly Lombard International US, a Philadelphia carrier of private placement life insurance and annuities for the wealthy, owned by BroadRiver since 2023. | Shareholder-owned life insurers | 0.37% | A- (Excellent) |
| 55 | American-Amicable (iA American Life)iA Financial Group's Waco, Texas insurers (American-Amicable, iA American, Occidental, Pioneer), selling final expense, term and UL through agents. | Shareholder-owned life insurers | 0.36% | A (Excellent) |
| 67 | Kansas City LifeA Bixby family-led Missouri life insurer founded in 1895, selling term, whole, universal and indexed life through agencies, plus Old American final expense. | Shareholder-owned life insurers | 0.20% | A- (Excellent) |
| 85 | Fidelity LifeIllinois life insurer founded in 1896, owned by iA Financial Group since 2024, selling RAPIDecision term, senior and final expense policies by phone and online. | Shareholder-owned life insurers | 0.12% | A (Excellent) |
| 95 | Horace MannSpringfield, Illinois insurer for teachers and school employees, publicly traded as HMN, selling term, whole life and IUL plus auto, home and 403(b) annuities. | Shareholder-owned life insurers | 0.09% | A (Excellent) |
Ranked by 2024 U.S. individual life insurance direct premiums written (states and U.S. territories), from the NAIC 2024 Life/Fraternal Market Share Report. NAIC groups combine affiliated companies, so a group may sell under several brand names.