Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congresswoman Joyce Beatty (D-OH), Chair of the Subcommittee on Diversity and Inclusion, sent letters to the largest property, casualty and life insurance companies that receive $7 billion in direct premiums or more each year, requesting diversity and inclusion data to examine America’s insurance industry.
"The Committee on Financial Services in the United States House of Representatives (“Committee”) has made diversity and inclusion a core pillar of ensuring a financial services system that works for all consumers... There is a concerning lack of publicly available data to effectively evaluate diversity among America’s largest property, casualty, and life insurance companies. We believe transparency is a critical, first step to achieving progress. That is why your participation in this report is imperative in ensuring that the insurance industry is working toward a more equitable and opportune environment for everyone."
Under the leadership of Chairwoman Waters, the House Financial Services Committee established the first Subcommittee on Diversity and Inclusion in the history of Congress. Congresswoman Beatty serves as the Subcommittee Chair. In early 2020, the Committee published a report entitled, “Diversity and Inclusion: Holding America’s Biggest Banks Accountable,” and in late 2021, the Committee published a second report entitled, “Diversity and Inclusion: Holding America’s Largest Investment Firms Accountable.”
Click here for a sample letter.
See below for the full list of firms that received requests:
Allstate Insurance Group
American Family Insurance Group
American International Group
Assurant Inc. Group
Auto Owners Group
AXA Insurance Group
Chubb LTD Group
CNA Insurance Group
Erie Insurance Group
Fairfax Financial Group
Farmers Insurance Group
Geico Insurance Company*
Hartford Fire & CAS Group
Liberty Mutual Group
Lincoln Financial Group
Massachusetts Mutual Life Insurance Group
Metropolitan Life Insurance Company
Nationwide Mutual Insurance Company
New York Life Group
Northwestern Mutual Group
Prudential of America Group
State Farm Group
Tokio Marine Holdings Inc. Group
United Services Automobile Association Group
Zurich Insurance Group
* Geico is an indirect, wholly owned subsidiary of Berkshire Hathaway, Inc.