From a review of SEC filings and individual Company information in MSN Money, I found 44 US Insurance Companies with stock market caps sometime in 2018 of more than $1 Bil and also not exceeding $10 Bil any time in 2018.
My Focus is on Pretax Income rather than on After-Tax Net Income because Corporate Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments. It has nothing whatsoever to do with Company Operating Performance.
The chart below shows the Gold-Standard US GAAP Total Pretax Income (Loss) From Continuing Operations for the 4Q 2018 and 2017 and the 3Q 2018 and 2017 for each of these 44 Insurance Cos.
| US | US | US | US | |||||
| GAAP | GAAP | GAAP | GAAP | |||||
| Pretax | Pretax | Pretax | Pretax | |||||
| Income | Income | Income | Income | |||||
| (Loss) | (Loss) | (Loss) | (Loss) | |||||
| US | 4Q | 4Q | Better | 3Q | 3Q | Better | ||
| State | US Financial Companies | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | |
| HQs | Insurance | Quarter | Quarter | % | Quarter | Quarter | % | |
| Stock Market Caps of $1-10 Bil | End | End | Change | End | End | Change | ||
| mils $ | mils $ | mils $ | mils $ | mils $ | ||||
| NC | Brighthouse Financial | 1,787 | (222) | (368) | (124) | |||
| CA | Molina Health Care | 256 | (316) | 259 | (113) | |||
| WI | MGIC Investment Corp | 195 | 245 | 232 | 184 | |||
| PA | Radian Group | 176 | 165 | 185 | 103 | |||
| CT | WR Berkley Corp | 163 | 201 | 209 | 226 | |||
| NY | Voya Financial | 162 | 220 | 186 | 40 | |||
| PA | Essent Group Ltd | 152 | 105 | 140 | 107 | |||
| CA | First American Financial | 119 | 159 | 196 | 18 | |||
| GA | Primerica | 108 | 108 | 111 | 100 | |||
| FL | Brown & Brown | 101 | 106 | 143 | 124 | |||
| NY | Assured Guaranty Ltd | 101 | 156 | 175 | 313 | |||
| PA | Erie Indemnity Co | 83 | 65 | 104 | 89 | |||
| IA | American Equity Investment Life | 66 | 108 | 208 | 87 | |||
| AL | Protective Life | 56 | 86 | 136 | 111 | |||
| NJ | Selective Insurance Group | 52 | 68 | 67 | 67 | |||
| CA | NMI Holdings | 45 | 17 | 32 | 19 | |||
| NY | Assurant | 43 | 158 | 76 | (108) | |||
| IN | CNO Financial Group | 37 | 125 | (540) | 130 | |||
| NY | National General Holdings | 34 | 20 | 72 | 77 | |||
| NV | Employers Holdings | 31 | 53 | 58 | 29 | |||
| TX | National Western Life Group | 23 | 36 | 45 | 34 | |||
| MA | Safety Insurance Group | 23 | 14 | 37 | 26 | |||
| LA | AMERISAFE | 23 | 18 | 24 | 24 | |||
| TX | Stewart Info Services Group | 20 | 17 | 25 | 19 | |||
| NC | James River Group Hldgs Ltd | 13 | 6 | 22 | 14 | |||
| IL | Kemper Corp | 6 | 44 | 81 | 68 | |||
| VA | Kinsale Capital Group | 5 | 11 | 14 | 5 | |||
| IA | FBL Financial Group | 4 | 104 | 36 | 36 | |||
| MA | Hanover Insurance Group | 1 | 95 | 123 | 83 | |||
| FL | Universal Insurance Holdings | (11) | 59 | 51 | 17 | |||
| IL | Horace Mann Educators | (28) | 35 | 17 | 33 | |||
| CT | Navigators Group | (32) | 63 | 4 | (45) | |||
| IL | RLI Corp | (33) | 25 | 46 | (1) | |||
| OH | State Auto Financial | (33) | 38 | 41 | (11) | |||
| AL | ProAssurance | (39) | 34 | 31 | 35 | |||
| IA | United Fire Group | (42) | 29 | 13 | (32) | |||
| TX | Argo Group Intl | (60) | 12 | 45 | (66) | |||
| CA | Mercury General | (114) | 9 | 70 | 58 | |||
| IL | Old Republic Intl | (138) | 355 | 335 | 60 | |||
| NH | White Mountains Insurance | (144) | 5 | 44 | 8 | |||
| TX | American National Insurance | (162) | 187 | 195 | 114 | |||
| IA | FGL Holdings | (199) | 63 | 71 | 87 | |||
| VA | Genworth Financial | (413) | (290) | 273 | 286 | |||
| NY | Alleghany | (891) | 211 | 350 | (522) | |||
| Total all 44 Cos | 1,546 | 2,807 | -45% | 3,674 | 1,809 | 103% |
