Insurance companies at a glance.

Author:Santiago, Lara N.
Position:SPECIAL INVESTIGATIVE REPORT - Industry Overview
 
FREE EXCERPT

Life and Health. They go hand in hand and together they are the most essential piece of human existence. At a time when insurance coverage is a highly debated issue in the United States and consumers are striving to find the best coverage, the key questions we asked ourselves were: who is out there? who is giving the best coverage? Who is giving the best service? In an effort to help you find those answers, we conducted a research to find some of the best insurance companies in the country, and we now bring that information to you. Here are some of the best providers in the U.S.

New York Life Insurance

Founded in 1845, New York Life is a mutual insurance company whose stocks are not publicly traded. This provides New York Life's policyholders a unique opportunity to share in the ownership of the corporation as a whole, while being independent from the fluctuations of the stock market. Policyholders benefit from surplus earnings--stable in the long term--but may be excluded from the benefits of a promising bull market. New York Life is #1 in sales of Life Insurance in the United States and has$144 billion in consolidated assets.

American Family Insurance

Based in Madison, Wisconsin, American Family Insurance is the third largest mutual property and casualty insurance provider and the sixteenth largest property and casualty insurance group. Spurred by a strong 2004 during which $600 million of policyholder equity was added, the company currently claims $12.2 billion in assets and $4.2 billion in policyholder equity. This large sum serves to ensure the protection for policyholders in the case of financial catastrophe. Founded in 1927, American Family provides services for the following 17 states: Arizona, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah and Wisconsin. Policyholders should be aware that coverage differs between states.

Allstate Insurance Company

As a Fortune 500 company, Allstate offers $134 billion in assets and sells 13 major types of insurance. They were founded in 1931 and became publicly traded in 1993. Separating from its father company, Sears, in 1995, Allstate is now totally independent. 40,000 employees comprise the Allstate Corporation, of which 29% are minorities and 60% are women. Allstate has operations in 49 states and Canada and has ranks highly in Financial Strength on the A.M. Best, Moody's, and Standard and Poor's scales.

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