Only three companies generated more than $5B in annual profit, namely Berkshire Hathaway ($81.4B), MetLife ($5.9B) and State Farm ($5.6B).
There are 13 property and casualty insurance stock companies making multi-billion dollar annual profit, a lot more than in other categories of insurance.
The average profit figure across the top 50 is $3.2B in annual profit.
Insurance companies make their money in a couple different ways, mainly off the premiums they get from policyowners who don’t have a claim, and income earned through investments of past profits. Annualized profit figures, like the ones in the above figure focuses on, are from operating gains and don’t speak to the mountains of money sitting in surplus and reserves.