www.indeed1.com Jobs from all around the world
25 largest insurance companies in the world
25 largest insurance companies in the world: Global rating organisation A.M. Best has announced the top 25 insurance companies in the world based on net premiums written (NPW) and non-banking assets.
For the fourth year in a row, United Health Group Incorporated, a major US health insurance company, has been ranked first by NPW with $158.8 billion (or about AU$220.2 billion) in 2017. In the 2017 rankings, Allianz SE rose two spots to claim the title of largest insurer in the world by non-banking assets, demoting MetLife Inc. to fifth place. A significant reserve charge in 2017 for MetLife’s group annuity business to cover outstanding benefits accelerated the company’s decline.
Overall, the top positions in the annual rankings remained largely steady. The top five insurers by non-banking assets were unchanged, as were four of the top five insurers by NPW from the previous year. Six of the top 10 insurers are Chinese and US health insurance companies, which continue to dominate the top ranks in terms of NPW.
Ping An Insurance (Group) Company of China Ltd., which has its headquarters in China, entered the top five NPW companies in 2017 after seeing a 30% growth in premiums year over year. In 2017, the Chinese insurer moved up five spots to take fourth place. Berkshire Hathaway Inc., which climbed to No. 11 from No. 16 after a premium increase of 33% in 2017, was another business to make strong NPW advancement.
The A.M. Best rankings of the world’s largest global insurance companies were released in the December 31, 2018, issue of BestWeek. The rankings were based on BestLink data and additional A.M. Best research.
Without further ado, the 25 biggest insurance companies in the world by net premiums written (all in US dollars) are:
1. UnitedHealth Group Incorporated
Country of domicile: United States of America
Net premiums written: $158.5 billion
2. AXA S.A.
Country of domicile: France
Net premiums written: $104.5 billion
3. China Life Insurance (Group) Company
Country of domicile: China
Net premiums written: $97.6 billion
4. Ping An Insurance (Group) Company of China Ltd.
Country of domicile: China
Net premiums written: $90.3 billion
5. Allianz SE
Country of domicile: Germany
Net premiums written: $86.8 billion
6. Anthem, Inc.
Country of domicile: United States of America
Net premiums written: $84.2 billion
7. Kaiser Foundation Group of Health Plans
Country of domicile: United States of America
Net premiums written: $83.6 billion
8. Assicurazioni Generali S.p.A.
Country of domicile: Italy
Net premiums written: $77.5 billion
9. State Farm Group
Country of domicile: United States of America
Net premiums written: $69.9 billion
10. People’s Insurance Company (Group) of China Ltd.
Country of domicile: China
Net premiums written: $68.9 billion
11. Berkshire Hathaway Inc.
Country of domicile: United States of America
Net premiums written: $62.2 billion
12. Munich Reinsurance Company
Country of domicile: Germany
Net premiums written: $57 billion
13. Prudential plc
Country of domicile: United Kingdom
Net premiums written: $56.6 billion
14. Aetna Inc.
Country of domicile: United States of America
Net premiums written: $53.9 billion
15. Humana Inc.
Country of domicile: United States of America
Net premiums written: $52.4 billion
16. Nippon Life Insurance Company
Country of domicile: Japan
Net premiums written: $50.6 billion
17. Life Insurance Corporation of India
Country of domicile: India
Net premiums written: $48.9 billion
18. Centene Corporation
Country of domicile: United States of America
Net premiums written: $46.1 billion
19. Dai-ichi Life Holdings, Inc.
Country of domicile: Japan
Net premiums written: $46 billion
20. National Mutual Insurance Federal Agricultural Cooperation
Country of domicile: Japan
Net premiums written: $45.2 billion
21. Tokio Marine Holdings, Inc.
Country of domicile: Japan
Net premiums written: $42.5 billion
22. MS&AD Insurance Group Holdings, Inc.
Country of domicile: Japan
Net premiums written: $42.3 billion
23. Zurich Insurance Group Ltd.
Country of domicile: Switzerland
Net premiums written: $41.1 billion
24. China Pacific Insurance (Group) Company, Ltd.
Country of domicile: China
Net premiums written: $40.8 billion
25. Japan Post Insurance Company, Ltd.
Country of domicile: Japan
Net premiums written: $39.6 billion
There was one new insurance company on the NPW rankings in 2017, with China Pacific Insurance (Group) Company, Ltd. entering the ranks in 24th position.
The 25 biggest insurance companies in the world by net non-banking assets (all in US dollars) are:
1. Allianz SE
Country of domicile: Germany
Non-banking assets: $1 trillion
2. AXA S.A.
Country of domicile: France
Non-banking assets: $992 billion
3. Prudential Financial Inc.
Country of domicile: United States of America
Non-banking assets: $832 billion
4. Japan Post Insurance Company, Ltd.
Country of domicile: Japan
Non-banking assets: $723 billion
5. MetLife Inc.
Country of domicile: United States of America
Non-banking assets: $720 billion
6. Berkshire Hathaway Inc.
Country of domicile: United States of America
Non-banking assets: $702.1 billion
7. Nippon Life Insurance Company
Country of domicile: Japan
Non-banking assets: $700 billion
8. Legal & General Group Plc
Country of domicile: United Kingdom
Non-banking assets: $682.6 billion
9. Prudential plc
Country of domicile: United Kingdom
Non-banking assets: $666.5 billion
10. Assicurazioni Generali S.p.A.
Country of domicile: Italy
Non-banking assets: $643.4 billion
11. Aviva plc
Country of domicile: United Kingdom
Non-banking assets: $597.4 billion
12. Manulife Financial Corporation
Country of domicile: Canada
Non-banking assets: $581.3 billion
13. Ping An Insurance (Group) Company of China Ltd.
Country of domicile: China
Non-banking assets: $572.5 billion
14. National Mutual Insurance Federal Agricultural Cooperation
Country of domicile: Japan
Non-banking assets: $553.1 billion
15. China Life Insurance (Group) Company
Country of domicile: China
Non-banking assets: $553 billion
16. CNP Assurances
Country of domicile: France
Non-banking assets: $507.1 billion
17. Dai-ichi Life Holdings, Inc.
Country of domicile: Japan
Non-banking assets: $504.4 billion
18. American International Group, Inc.
Country of domicile: United States of America
Non-banking assets: $498.3 billion
19. Aegon N.V.
Country of domicile: Netherlands
Non-banking assets: $475 billion
20. Credit Agricole Assurances
Country of domicile: France
Non-banking assets: $451.7 billion
21. Life Insurance Corporation of India
Country of domicile: India
Non-banking assets: $438.1 billion
22. Zurich Insurance Group Ltd.
Country of domicile: Switzerland
Non-banking assets: $422.1 billion
23. Meiji Yasuda Life Insurance Company
Country of domicile: Japan
Non-banking assets: $391 billion
24. Sumitomo Life Insurance Company
Country of domicile: Japan
Non-baking assets: $339.1 billion
25. New York Life Insurance Company
Country of domicile: United States of America
Non-banking assets: $337.1 billion