The insurance industry is very competitive in the region. Norfolk is particularly strong in health and medical insurance with a very high concentration of employees, a substantial growth rate, and significant sales outside the region. The insurance industry includes not only health and medical insurance, but property and casualty insurance, life insurance, insurance agencies and brokerages, etc.

Competitive Advantages:

Labor Force:

  • The MSA is strong in Health and Medical Insurance as well as Property and Casualty Insurance, resulting in a large skilled pool of labor to draw from.
  • Due to similarities in duties, workers in one field of insurance can likely transition to another field of insurance.
  • The industry includes workers not only with expertise in insurance, but also sales representatives, registered nurses, analysts, etc.


Total Jobs in Norfolk (2022)3,915
Weighted Average Earnings per Job in Norfolk$100,509
Payrolled Business Locations in Norfolk (2022)88

Source: Lightcast Q1 2023 Data Set

Key Employers in the Insurance Industry in Norfolk

Company Field
Elevance Health (formerly Anthem) Health and Medical Insurance
Liberty Mutual Insurance Property & Casualty Insurance
New York Life Life Insurance
Optima Health Health and Medical Insurance
Towne Bank Insurance Agencies & Brokerages
United Insurance Company Life Insurance
USI Insurance Services Insurance Agencies & Brokerages
Click to enlarge

Source: Lightcast Q1 2023 Data Set