Business Insurance - Top 5 Firms Minnesota

Allianz SE
One of the world's biggest insurers, Allianz SE (formerly Allianz AG) offers a range of insurance products and services -- including life, health, and property/casualty -- through some 100 subsidiaries and affiliates. The company's Allianz Global Investors unit manages private and institutional funds, and its Dresdner Bank subsidiary is one of Germany's largest banks, offering personal and corporate banking, wealth management, and business finance advisory services. In 2006 Allianz acquired the remainder of its majority-owned subsidiary Ras Holding and transformed itself into a Societas Europaea, a joint stock company that operates under European Union rules.

American International Group, Inc.
American International Group (AIG) is one of the world's largest insurance firms. Domestically the company is known as a leading provider of property/casualty, life, and specialty insurance to commercial, institutional, and individual customers. Internationally, AIG provides reinsurance, life insurance and retirement services, asset management, and financial services (including aircraft leasing) in more than 130 countries. Acquisitions have brought in leading annuities firm AIG SunAmerica, insurer AIG American General, and other companies specializing in retail financial markets.

AXA
The insurance world revolves around this AXA. AXA, which started as a sleepy collection of mutual insurance companies, is today one of the world's largest insurers (alongside Allianz and ING) and a financial management powerhouse. In the US, AXA owns AXA Financial, which owns a majority of investment manager Alliance Capital Management. The company also has major subsidiaries in the UK (AXA UK), Australia (AXA Asia Pacific), and Belgium (AXA Belgium). The companies offer life insurance; personal and commercial property and casualty insurance; reinsurance; financial services; and real estate investment services. Mutuelles AXA (a group of eight mutuals) controls AXA through its 20% stake.

Safeco Corporation
While the name doesn't tell you much about the business, Safeco does sound secure, and with insurance that counts for a lot. Safeco, through its Safeco Insurance Co. offers personal property/casualty insurance including auto, homeowners, and fire coverage. The company's commercial business includes workers' compensation, multiperil, and general liability geared towards small to midsized companies. To better focus on its flagship property/casualty business across the US, Safeco has exited the life and health segment and sold its insurance brokerage, wealth-management arm, and mutual fund operations. However, it continues to offer surety bonds to its long-term construction and corporate customers.

The Travelers Companies, Inc.
Running a business is a risk The Travelers Companies will insure. While it also offers personal insurance, its largest segment is commercial property/casualty insurance. It is the second largest business insurer in the US, behind AIG, and provides commercial auto, property, workers' compensation, marine, and general and financial liability coverage to companies in North America and the UK. The Travelers also offers surety and fidelity bonds as well as professional and management liability coverage for commercial operations. Through its membership in Lloyd's of London, the company offers policies for commercial aviation, marine, property, and accidents.

This list represents an opinion by Interaction Media Group staff and in no way is meant to imply actual quality and rank of the company in this industry.