List of largest insurance companies

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These are lists of the insurance companies in the world, as measured by total non-banking assets and by net premiums written.

Contents

By assets

The list is based on the 2023 report of the 25 largest insurance companies in the world by 2021 assets from AM Best. [1]

RankCompanyCountryTotal assets
(US$ Billion)
1 Allianz Flag of Germany.svg  Germany 1,247.2
2 Berkshire Hathaway Flag of the United States (23px).png  United States 958.8
3 Prudential Financial Flag of the United States (23px).png  United States 937.6
4 Ping An Insurance Flag of the People's Republic of China.svg  China 937.0
5 China Life Insurance Flag of the People's Republic of China.svg  China 900.5
6 Axa Flag of France.svg  France 846.3
7 Legal & General Flag of the United Kingdom.svg  United Kingdom 786.1
8 MetLife Flag of the United States (23px).png  United States 759.7
9 Nippon Life Flag of Japan.svg  Japan 725.0
10 Manulife Financial Flag of Canada (Pantone).svg  Canada 718.1
11 Assicurazioni Generali Flag of Italy.svg  Italy 663.9
12 American International Group Flag of the United States (23px).png  United States 596.1
13 Life Insurance Corporation Flag of India.svg  India 560.3
14 Japan Post Insurance Flag of Japan.svg  Japan 551.0
15 CNP Assurances Flag of France.svg  France 547.0
16 Dai-ichi Life Flag of Japan.svg  Japan 540.4
17 Aegon N.V. Flag of the Netherlands.svg  Netherlands 531.0
18 Credit Agricole Assurances Flag of France.svg  France 502.7
19 Great-West Lifeco Flag of Canada (Pantone).svg  Canada 493.4
20 Aviva Flag of the United Kingdom.svg  United Kingdom 483.6
21 JA Kyosai Flag of Japan.svg  Japan 481.7
22 Zurich Insurance Group Flag of Switzerland (Pantone).svg  Switzerland 435.8
23 New York Life Insurance Company Flag of the United States (23px).png  United States 428.6
24 Meiji Yasuda Life Flag of Japan.svg  Japan 395.4
25 Lincoln Natl Corp Flag of the United States (23px).png  United States 387.3

By net premiums written

The list is based on the 2023 report of the 25 largest insurance companies in the world by 2021 net premiums written from AM Best. [1]

RankCompanyCountryNet premiums written
(US$ Billion)
1 UnitedHealth Group Flag of the United States (23px).png  United States 226.2
2 Centene Corporation Flag of the United States (23px).png  United States 120.3
3 Elevance Health Flag of the United States (23px).png  United States 117.4
4 China Life Insurance Flag of the People's Republic of China.svg  China 115.1
5 Ping An Insurance Flag of the People's Republic of China.svg  China 114.7
6 Kaiser Permanente Flag of the United States (23px).png  United States 106.4
7 Axa Flag of France.svg  France 95.7
8 Allianz Flag of Germany.svg  Germany 88.9
9 People's Insurance Company of China Flag of the People's Republic of China.svg  China 84.5
10 Assicurazioni Generali Flag of Italy.svg  Italy 80.3
11 Humana Flag of the United States (23px).png  United States 79.8
12 Berkshire Hathaway Flag of the United States (23px).png  United States 71.6
13 State Farm Flag of the United States (23px).png  United States 71.1
14 Munich Re Flag of Germany.svg  Germany 64.7
15 CVS Health Flag of the United States (23px).png  United States 62.2
16 Life Insurance Corporation Flag of India.svg  India 56.6
17 China Pacific Insurance Company Flag of the People's Republic of China.svg  China 53.7
18 Health Care Service Corporation Flag of the United States (23px).png  United States 46.7
19 Progressive Corporation Flag of the United States (23px).png  United States 46.4
20 The Allstate Corp Flag of the United States (23px).png  United States 45.8
21 Zurich Ins Group Ltd Flag of Switzerland (Pantone).svg   Switzerland 44.8
22 HDI Flag of Germany.svg  Germany 44.2
23 Liberty Mutual Flag of the United States (23px).png  United States 43.7
24 Dai-ichi Life Flag of Japan.svg  Japan 43.4
25 Nippon Life Flag of Japan.svg  Japan 43.2

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<span class="mw-page-title-main">Sun Life Financial</span> Canadian insurance company

Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company.

Chubb Limited is a Swiss company incorporated in Zürich, and listed on the New York Stock Exchange (NYSE) where it is a component of the S&P 500. Chubb is a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and is the largest publicly traded property and casualty insurance company in the world. Chubb operates in 55 countries and territories and in the Lloyd's insurance market in London. Clients of Chubb consist of multinational corporations and local businesses, individuals, and insurers seeking reinsurance coverage. Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance.

Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. It was the biggest housing finance company in India. It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and subsidiary companies.

Munich Re Group or Munich Reinsurance Company is a German multinational insurance company based in Munich, Germany. It is the world's largest reinsurer. ERGO, subsidiary of Munich Re, serves as the primary insurance arm of the Group. Munich Re's shares are publicly listed. Munich Re is included in the DAX index at the Frankfurt Stock Exchange, the Euro Stoxx 50, and other indices.

<span class="mw-page-title-main">Ping An Insurance</span> Chinese insurance company

Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese financial services holding company whose subsidiaries provide insurance, banking, asset management, financial services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well". It is ranked as China’s 5th largest company.

<span class="mw-page-title-main">American Family Insurance</span> American private mutual company

American Family Insurance, also abbreviated as AmFam, is an American private mutual company that focuses on property, casualty, and auto insurance, and also offers commercial insurance, life, health, and homeowners coverage as well as investment and retirement-planning products. It is a Fortune 500 company and its revenues were over $9.5 billion in 2017.

<span class="mw-page-title-main">Reliance Capital</span> Indian Financial Services company

Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at ₹16,548 crore, while its total assets as on the date stood at ₹82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.

<span class="mw-page-title-main">Life Insurance Corporation</span> Indian public sector life insurer

Life Insurance Corporation of India (LIC) is an Indian multinational Central Public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth 52.52 trillion (US$630 billion) as of March 2024. It is under the ownership of Government of India and administrative control of the Ministry of Finance.

<span class="mw-page-title-main">New India Assurance</span> Indian public sector insurance company

The New India Assurance Co. Ltd. (NIA) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Mumbai, it is the largest nationalised general insurance company of India based on gross premium collection inclusive of foreign operations. It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973.

<span class="mw-page-title-main">Grinnell Mutual</span> Mutual insurance company

Grinnell Mutual is a property-casualty mutual insurance company and reinsurer based in Grinnell, Iowa, United States.

<span class="mw-page-title-main">Japan Post Insurance</span> Japanese life insurance company

The Japan Post Insurance Company, Ltd., is a Japanese life insurer that was established on October 1, 2007, with the privatization of Japan Post Life Insurance. It is owned by the Japan Post Holdings. As of 2011, it was the world's fourth largest insurance company as regards net premiums written behind three European insurers and the largest as regards non-banking assets.

<span class="mw-page-title-main">Allianz</span> German multinational financial services company

Allianz is a German multinational financial services company headquartered in Munich, Germany. Its core businesses is insurance and asset management.

GuideOne Insurance is an American niche-market insurance company based in West Des Moines, Iowa that specialises in insurance for churches, schools and students. It is one of the largest church insurers in the United States. The company is licensed in all 50 of the Unites States.

<span class="mw-page-title-main">Reinsurance Group of America</span> Global reinsurance company

Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.

Economical Insurance, founded in 1871, is a Canadian Property & Casualty insurance company, offering automobile, property, liability, agriculture, and surety insurance. Its executive offices are located in Waterloo, Ontario, with regional offices across Canada. The company has a 4.02% market share, measured by direct written premium in the Canadian Property & Casualty Insurance market as of December 2012. As of 2014, it had about 1.6 billion in mutual policyholder's equity. It is the 9th largest property and casualty insurance company in Canada, by direct written premium and the 20th largest insurance company in Canada, by total assets.

<span class="mw-page-title-main">Talanx</span> German multinational financial services company

Talanx is a German multinational financial services company headquartered in Hanover, Germany. Its core businesses include reinsurance, insurance and asset management. Talanx is Germany's third-largest insurance group and one of the major European insurance groups by premium income. The group operates in more than 150 countries.

<span class="mw-page-title-main">Future Generali India Insurance</span> Insurance company in India

Future Generali India Insurance (FGII) Company Limited is a private general insurance company in India. The company is a joint venture between the Future Group and Generali Participations Netherlands N.V.. As of 2022, Generali Group it is the largest insurance company in Italy and ranks among the world's largest insurance companies by net premiums and assets. The company's portfolio comprises insurance products categorised within Personal, Commercial and Social/Rural Insurance.

<span class="mw-page-title-main">Sogaz</span> Russian insurance company

SOGAZ is a Russian insurance company. SOGAZ became the first in Russia by written premium and market share (12.1%) in 2016. The company was formed in 1993 and has direct business in Russia and Serbia. Insurance company SOGAZ as well have shares in many companies and own a number of insurers.

<span class="mw-page-title-main">Canara HSBC Life Insurance</span> Indian Insurance company

Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram. Established in 2008, Canara HSBC Life Insurance was a joint venture between Canara Bank (51%), HSBC Insurance Holdings Limited (26%) and Punjab National Bank (23%). On 15 June 2022, the company renamed itself as Canara HSBC Life Insurance after the exit of its third partner, Punjab National Bank.

ICICI Prudential Life Insurance Company Limited is an Indian life insurance company in India. Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.

References

  1. 1 2 "World's Largest Insurance Companies—2023 Edition".