The insurance industry of the United States of America is the largest of all the insurance markets of the world. The net premiums written by the insurance industry was valued at USD1.1 trillion in 2016. Of these total net premiums written, the life/health insurance occupied influential stake with 53% and the property and casualty insurance accounted for 47%.

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The property/casualty (P/L) insurance comprising of auto, home and commercial insurance registered USD533.7 billion in the net premiums written in 2016. Similarly, the life/health (L/H) insurance that consists of annuities and life insurance accounted for USD597.7 billion in 2016 for the new premiums written.

Health insurance is one of the most preferred choices of the citizens of the United States and is considered as a different sector altogether. It comprises health insurance companies of both public and private sector. Few companies of property/casualty and life/health insurance also write the premiums for health insurance.

According to the National Association of Insurance Commissioners, around 5,977 insurance companies are performing operations in the United States, including its territories in 2016. Of these companies, 2,538 are property/casualty insurers, 872 are life/annuity insurers, 858 are health insurers, 85 are fraternal insurers, 55 are title insurers, 247 are risk retention groups and 1,314 are other companies.

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According to the U.S. Bureau of Economic Analysis, Insurance carriers and related activities in the USA accounted for USD507.7 billion in 2016, around 2.7% of the total GDP of the country. Approximately 2.6 million people in the USA are working in the insurance industry that includes 1.5 million people in the life/health insurance, P/C insurance, and re-insurers, and 1.1 million people in insurance agencies, brokers and other insurance-related companies according to the U.S. Department of Labour.

The property/casualty insurance's invested assets and cash valued at USD1.59 trillion, and the same for life and health insurance was valued at USD3.89 trillion in 2016 according to the reports of S&P Global Market Intelligence. The statistics of the U.S. Department of Commerce shows that both P/C and L/H insurance companies in the country have paid around USD20.5 billion premium taxes in 2016 and USD63 for every citizen in the nation.

On the whole, the insurance industry of the United States is expanding rapidly with the increasing technological advancements, unexpected natural calamities, growing geriatric population, the rise in cyber-attacks and several other factors in the recent years.