Iowa Insurance Industry at a Glance

March 8, 2021

Iowa has long been recognized as a national leader in the insurance and financial sector. Even through the turbulence of 2020, Iowans benefited greatly from the financial protections provided by the Iowa insurance industry. From the COVID-19 crisis to the August derecho, Iowans could count on the insurance industry to insure their health, life, business, personal property, and retirement income.

  • Iowa is first in the United States for insurance industry output as a percentage of GDP: 10.09%.
  • Over the past 5 years, GDP in the insurance and financial services sector has grown by 45%.
  • In 2019, insurance companies paid $188 million into state funds through premium taxes and fees. 
  • Industry employers ranging from Fortune 500 to independent insurance agents call Iowa home, with 212 insurers domiciled in the state. Another 1,326 non-domestic carriers have a presence here.
  • Those companies employ 46,398 industry professionals, who power our economy through taxes, home buying, shopping, recreation, and other expenditures. 
  • Iowa’s insurance industry payroll topped $4.9 billion in 2018, making up more than 6% of Iowa’s public and private sector employment. 
  • Our state supports a strong talent pipeline. Iowa’s public colleges and universities offer three of the top 25 actuarial science degree programs in the United States. 
  • Public college and university students in Iowa can also pursue any of 24 bachelor’s degree programs in accounting or 21 in finance. 


Iowa Insurance Division 2021 Regulatory Update

Iowa Economic Development Authority

State of Iowa


Iowa Workforce Development