Short answer
The Des Moines-West Des Moines metro had 599 insurance establishments with paid employees in 2023, employing 25,031 people at average pay of $129,403, according to Census County Business Patterns. Carriers employed 21,423 of them, life insurers 12,429. Insurance is 6.9% of the metro's private employment, second among large US metros after Hartford. Principal Financial Group, Athene and F&G Annuities & Life are the SEC-listed insurers headquartered here; the Iowa Insurance Division regulates them.
- 599 insurance establishments, 25,031 employees and $3.2 billion in payroll in the Des Moines metro in 2023; average pay $129,403.
- Carriers hold 85.6% of the metro's insurance jobs, against 55.8% nationally; a carrier establishment averages 170 employees.
- Insurance is 6.86% of private employment in the metro, second among 182 metros with 100,000 or more jobs, after Hartford (9.50%).
- Principal ($15.6 billion in 2025 revenue), Athene ($25.7 billion) and F&G ($5.7 billion) are headquartered here.
- The Iowa Insurance Division lists Athene Annuity and Life and Principal Life as Iowa's two largest life insurers by 2024 assets.
On this page
Use this page if you're looking at insurance companies in Greater Des Moines: as a job seeker comparing employers, as a resident checking an insurer or agent, as a business buying cover, or as a vendor selling to carriers. It gives the Census counts for the six-county metro, the share of jobs insurance holds, the listed insurers based here and the Iowa Insurance Division's (IID's) list of the state's largest insurers. It doesn't recommend insurers.
How concentrated insurance is here
US Census Bureau County Business Patterns (CBP) 2023, insurance carriers and related activities (NAICS 524), Des Moines-West Des Moines, IA Metro Area (CBSA 19780):
| Measure | Des Moines metro, 2023 |
|---|---|
| Establishments | 599 |
| Employees | 25,031 |
| Annual payroll | $3,239,096,000 |
| Average employees per establishment | 41.8 |
| Average annual pay | $129,403 |
| Share of US insurance establishments | 0.34% (of 176,459) |
| Insurance share of all employees in CBP | 6.86% |
The last row is our calculation: insurance employees divided by all 364,757 employees CBP counts in the metro. Nationally the share is 2.12%. Among the 182 metros with at least 100,000 CBP employees, only Hartford-West Hartford-East Hartford, CT, at 9.50%, is higher; Lansing, MI, is third at 6.20%. The metro also holds 53.5% of Iowa's 46,752 insurance jobs.
A carrier town
Carriers (NAICS 5241) underwrite policies, invest the premiums and pay claims. Agencies, brokerages and related firms (5242) sell and service them. Des Moines is overwhelmingly the first kind:
| Segment (NAICS) | Establishments | Employees | Average pay |
|---|---|---|---|
| Carriers (5241) | 126 | 21,423 | $135,493 |
| Life insurers (524113) | 39 | 12,429 | $152,761 |
| Property and casualty insurers (524126) | 61 | 6,051 | $105,912 |
| Health and medical insurers (524114) | 23 | 2,788 | $116,285 |
| Agencies, brokerages and related (5242) | 473 | 3,608 | $93,243 |
| Agencies and brokerages (524210) | 425 | 3,009 | $95,599 |
| Third-party administrators (524292) | 19 | 316 | $70,943 |
| Claims adjusters (524291) | 18 | 193 | $77,109 |
Pay figures are CBP payroll per employee, our calculation. Life insurers average 319 employees per establishment, and five life insurance establishments have 500 to 999 employees. In most cities the agencies are the visible "insurance companies"; here they're a sideline to the carriers' head offices.
Polk and Dallas counties
| County | Establishments | Employees |
|---|---|---|
| Polk County, Iowa | 429 | 19,928 |
| Dallas County, Iowa | 100 | 4,876 |
| Warren County, Iowa | 29 | not reported (high-noise figure) |
| Guthrie County, Iowa | 15 | not reported (high-noise figure) |
| Jasper County, Iowa | 14 | not reported (high-noise figure) |
| Madison County, Iowa | 12 | 36 |
Polk County (Des Moines) and Dallas County, which includes Waukee and part of West Des Moines, hold 99% of the metro's insurance jobs. The Census Bureau published the other counties' employee counts but flagged them high-noise (noise added for confidentiality moved them by 5% or more), so they aren't shown. CBP counts locations with paid staff, not companies.
Listed insurers headquartered in Des Moines
| Company | Headquarters | Business | 2025 revenue | Employees, end 2025 |
|---|---|---|---|---|
| Athene Holding | West Des Moines | Retirement savings and annuities | $25.68 billion | about 1,970 |
| Principal Financial Group | Des Moines | Retirement, asset management and insurance | $15.63 billion | about 19,700 worldwide |
| F&G Annuities & Life | Des Moines | Annuities and life insurance | $5.73 billion | 1,173 full-time equivalent |
From each company's 10-K for 2025. Athene's NYSE-listed securities are preferred shares and junior subordinated debentures, not common stock. The filings show the IID's reach: Principal's 10-K says Principal Life is domiciled in Iowa, with the Iowa Insurance Division as its principal regulator, and Athene's says its US insurers are domiciled in Iowa or New York and "the IID is our group supervisor." For national rankings, see the largest insurance companies in the US.
Iowa's largest insurers by assets
The IID publishes the ten largest Iowa-domiciled life and casualty insurers by 2024 assets. The top five of each:
| Life insurers | 2024 assets | Casualty insurers | 2024 assets |
|---|---|---|---|
| Athene Annuity and Life Company | $277.8 billion | Employers Mutual Casualty Company | $5.83 billion |
| Principal Life Insurance Company | $239.8 billion | Farm Bureau Property & Casualty Ins Co | $3.87 billion |
| Transamerica Life Insurance Company | $179.1 billion | CUMIS Insurance Society, Inc. | $3.02 billion |
| Midland National Life Insurance Company | $82.7 billion | United Fire & Casualty Company | $2.17 billion |
| Fidelity & Guaranty Life Insurance Company | $65.7 billion | Grinnell Mutual Reinsurance Company | $1.64 billion |
These are chartered in Iowa; not all are run from Des Moines. Iowa domicile means the IID is the company's main regulator wherever its offices are.
Checking an Iowa insurer or agent
- Licensed? The IID's website links the NAIC's State Based Systems report generator, and the NAIC's Consumer Insurance Search confirms a company's licenses; search the legal name on your policy.
- Complaint record? The NAIC's Consumer Insurance Search shows complaints, licenses and financial information by company.
- A problem with a claim? After trying the company, use the IID's complaint forms or call 515-654-6600 (877-955-1212 in Iowa).
Working in Des Moines insurance
Average pay is $129,403, and $152,761 at life insurers, both our calculations from CBP. Thirty-two establishments have 100 or more employees and 12 have 500 or more. The Greater Des Moines Partnership, the region's economic development organization, names employers including Principal, Athene, F&G, EMC Insurance, Wellmark Blue Cross Blue Shield of Iowa, Grinnell Mutual, GuideOne and Farm Bureau Financial Services. The Iowa Insurance Institute represents property and casualty insurers in the state.
Selling to Des Moines insurers
| Buyer | Metro establishments | Who decides |
|---|---|---|
| Life and annuity carriers | 39 | Operations, actuarial, distribution and technology leaders |
| Property and casualty carriers | 61 | Claims, underwriting and IT leaders |
| Agencies and brokerages | 425 | Owner or principal |
Carrier deals are long, with security reviews and procurement. Map the operating leaders first; our guide to finding decision makers shows how.
Illustrative example. Raccoon River Compliance and its price are invented; the counts are from CBP 2023.
Raccoon River Compliance (raccoonriver.example) sells annuity suitability review software at $120,000 a year per carrier. Its market is the 39 life and annuity carrier establishments in the metro. Winning four in two years is $480,000 a year. Because five of those establishments have 500 to 999 employees each, it maps each carrier's distribution and compliance leaders before calling. Bebop researches each carrier and finds those people.
Next step: see how Des Moines's insurers rank nationally in the largest insurance companies list.
Sources
- County Business Patterns 2023, US Census Bureau, accessed 30 October 2026
- Largest companies (2024 assets), Iowa Insurance Division, accessed 30 October 2026
- Iowa Insurance Division, Iowa Insurance Division, accessed 30 October 2026
- Principal Financial Group, Inc. Form 10-K for 2025, US Securities and Exchange Commission (EDGAR), 18 February 2026
- Athene Holding Ltd. Form 10-K for 2025, US Securities and Exchange Commission (EDGAR), 25 February 2026
- F&G Annuities & Life, Inc. Form 10-K for 2025, US Securities and Exchange Commission (EDGAR), 26 February 2026
- Insurance and financial services, Greater Des Moines Partnership, accessed 30 October 2026
- Iowa Insurance Institute, Iowa Insurance Institute, accessed 30 October 2026
- Insurance Department Directory, National Association of Insurance Commissioners, accessed 30 October 2026
Written by the Bebop team at Blackpearl Group. Published .
Questions people ask
How many insurance companies are in Des Moines?
The Census Bureau counted 599 insurance establishments with paid employees in the Des Moines-West Des Moines metro in 2023, employing 25,031 people. 126 were carriers with 21,423 employees, and 473 were agencies, brokerages, adjusters and administrators. Polk County had 429 establishments and Dallas County 100. Establishments are locations, so one company with several offices counts several times.
Why are so many life insurance companies in Iowa?
The data confirm the concentration: the Des Moines metro's 39 life insurer establishments employ 12,429 people, and the Iowa Insurance Division's list of Iowa-domiciled life insurers includes some of the largest in the country by assets, led by Athene Annuity and Life at $277.8 billion. Being Iowa-domiciled makes the IID the main regulator; Athene's 10-K names the IID as its group supervisor.
What insurance companies are headquartered in Des Moines?
The SEC-listed insurers headquartered in the metro are Principal Financial Group and F&G Annuities & Life in Des Moines and Athene Holding in West Des Moines, according to their 2025 10-Ks. The Greater Des Moines Partnership also names EMC Insurance, Wellmark Blue Cross Blue Shield of Iowa, Grinnell Mutual, GuideOne and Farm Bureau Financial Services among the region's insurance employers.
Is Des Moines the insurance capital of the US?
It's one of two. Our calculation from Census County Business Patterns 2023 puts insurance at 6.86% of private employment in the Des Moines metro, second among the 182 metros with 100,000 or more employees. Hartford, Connecticut, is first at 9.50%. Nationally insurance is 2.12% of employment, so Des Moines is more than three times as concentrated.
How do I file an insurance complaint in Iowa?
Contact the insurer first and keep records of every call and letter. If that doesn't resolve it, use the Iowa Insurance Division's complaint forms or call 515-654-6600; in Iowa the toll-free number is 877-955-1212. The NAIC says state departments investigate complaints for free and that insurers can't penalize you for filing one.