At $1.7 trillion, the United States by far has the world’s biggest insurance market by premiums. Japan, though still hefty, lags far behind at $655.4 billion. In breaking out the U.S. states individually, California ranks number 6 in the world.
Outside of the United States as a nation, see below for a list of the other top 28 countries or states with the world’s biggest insurance markets. The list states the rank, the country or state, and the premium in measured in the billions of U.S. dollars, according to 2011 data from the National Association of Insurance Commissioners.
1. Japan $655.4
2. United Kingdom $319.5
3. France $273.1
4. Germany $245.1
5. People’s Republic of China $221.8
6. California $220.0
7. Italy $160.5
8. New York $133.8
9. South Korea $130.3
10. Canada $121.2
11. Netherlands$ 110.9
12. Florida $108.1
13. Texas $106.3
14. Pennsylvania$ 91.8
15. Australia $89.0
16. Spain $79.9
17. Taiwan$ 78.4
18. Brazil $78.2
19. India $72.6
20. Switzerland $63.5
28. Russia $43.3
