$332B in Premiums Makes California World’s 4th Largest Insurance Market

California’s annual insurance premium volume has increased to $332 billion, Insurance Commissioner Dave Jones announced on Thursday.

That makes California is the 4th largest insurance market in the world, and the state remains the largest insurance market in the United States, according to the California Department of Insurance.

In California, there are more than 24 classes of insurance sold by more than 1,300 companies, and there are more than 410,000 agents, brokers, adjusters, and business entities licensed to sell insurance in the state, according to the CDI.

“Insurance is the one product that touches our lives from the moment we are born to beyond our last breath,” Jones said in a statement. “Whether it is health, auto, home, business, workers’ compensation, disability or life, insurance is an integral part of our lives-we rely on it to protect ourselves, our families, our assets and our businesses. Insurance provides financial protection and peace of mind for millions of Californians.”