The majority of the 20 largest U.S.-listed insurance underwriters saw their market capitalization increase in the fourth quarter of 2019, according to data compiled by S&P Global Market Intelligence.
UnitedHealth Group Inc. continues to be far and away the largest underwriter in the country, and its market cap soared 35.3% in the period to $278.52 billion.
That was more than triple the market cap of Anthem Inc., which jumped over property and casualty giant Chubb Ltd. to the No. 2 spot. Anthem's market capitalization increased 25.7% in the quarter to $76.58 billion, while Chubb slipped to No. 4 after it lost 3.7%.
Cigna Corp. climbed one spot to become the third-largest insurer by market cap. At $76.36 billion, the company's market valuation was up 34.5% in the period.
Humana Inc. moved up seven places to claim the fifth spot after a 43.4% jump in its market cap to $48.54 billion, while Centene Corp. logged the biggest percentage increase among the top 20 underwriters at 45.3%.
The total return for the S&P 500 Insurance index, which takes into account all public U.S.-headquartered insurance underwriters, rose 1.3% in the quarter, against a 9.1% gain for the broader S&P 500 index.