Fortune magazine recently released its 62ndannual Fortune 1000list, which ranks U.S. companies by revenues and has long beenconsider a benchmark for business success. Over 30 property andcasualty-related companies made the cut this year.
In total, the 2016 Fortune 500 companies (the more commonlyreferenced subset of companies) represent two-thirds of the U.S.gross domestic product with $12 trillion in revenues, $840 billionin profits, $17 trillion in market value, and 27.9 million peopleemployed worldwide.
Among the companies that fell off the Fortune 1000 list thisyear? Chubb. Now the largest casualty insurer in the UnitedStates, Chubb is no longer incorporated in the United States, andtherefore, not eligible for the list. Chubb was acquired this past year by Zurich-basedACE, another insurance provider, in the largest insurancemerger and acquisition deal to date.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
