World's Largest Insurance Companies - Reinsurance News (2024)

World’s Largest Insurance Companies

This World’s Largest Insurance Companies directory is based on research data from rating agency A.M. Best.

Listing the top insurance companies in the world, this directory provides a simple way to analyse the world’s top insurance companies by premiums underwritten and by their net assets.

The largest insurance groups in the world featured in these lists are ranked by net premiums written in 2022 and net non-banking assets. You can sort the tables by any of the headings and search it to analyse individual insurance companies.

World’s largest insurance companies by net premiums written

Insurers ranked by net premiums written in 2022.

RankingInsurance Company NameDomicile2022 Net premiums written (US $ 000)% change from previous year
1UnitedHealth Group Incorporated (1)United States257,157,00013.7%
2Centene Corporation (1)United States136,199,00013.2%
3Elevance Health, Inc.United States133,229,00013.5%
4Kaiser Foundation Group of Health PlansUnited States108,506,0871.9%
5Ping An Ins (Group) Co of China Ltd.China108,000,3542.3%
6China Life Insurance (Group) CompanyChina105,198,313-0.7%
7AXA S.A. France91,981,9432%
8Allianz SEGermany 91,943,5059.7%
9Humana Inc. (1)United States87,712,0009.9%
10State Farm Group (2)United States84,004,49011.6%
11People's Ins Co (Group) of China LtdChina82,486,8726.1%
12Assicurazioni Generali S.p.A. Italy80,906,4836.9%
13Berkshire Hathaway Inc.United States76,468,0006.8%
14CVS Health Corp Group (2)United States70,628,60213.6%
15Munich Reinsurance CompanyGermany68,538,01512.4%
16Life Insurance Corporation of IndiaIndia57,686,36110.9%
17China Pacific Insurance (Group) Co Ltd.China53,985,8769.3%
18Progressive CorporationUnited States51,081,10010.1%
19Health Care Service Corporation Group United States50,796,6858.8%
20The Allstate CorpUnited States50,319,0009.8%
21Dai-ichi Life Holdings, Inc.Japan50,034,19625.4%
22MetLife, Inc. United States49,397,00017.6%
23HDI V.a.G. Germany49,159,96417.9%
24Liberty Mutual Holidng Company Inc.United States48,227,00010.4%
25Zurich Ins GroupSwitzerland47,101,0005.1%

World’s largest insurance companies by net non-banking assets

Insurers ranked by net non-banking assets at year-end 2022.

RankingInsurance Company NameDomicile2022 Net Non-Banking Assets (US $ 000)% change from previous year
1Allianz SEGermany1,050,762,471-10.6%
2Ping An Ins (Group) Co of China Ltd.China960,678,44811.4%
3Berkshire Hathaway Inc. United States948,452,000-1.1%
4China Life Insurance (Group) CompanyChina885,019,4386.8%
5AXA S.A.France713,622,407-10.5%
6Prudential Financial Inc United States689,917,000-26.4%
7MetLife IncUnited States666,611,000-12.3%
8Nippon Life Insurance Company Japan660,498,691-0.9%
9Manulife Financial CorporationCanada626,832,566-7.5%
10Legal & General Group PlcUnited Kingdom619,092,980-11.9%
11Assicurazioni Generali S.p.A.Italy554,201,134-11.5%
12Life Insurance Corporation of IndiaIndia553,797,3357.6%
13American International Group, Inc.United States 526,634,000-11.7%
14Great-West Lifeco Inc. Canada517,933,32811.3%
15CNP AssurancesFrance482,853,094-6.4%
16Japan Post Insurance Co., Ltd.Japan472,687,980-6.7%
17Dai-ichi Life Holdings, Inc. Japan464,329,326-6.5%
18National Mut Ins Fed Agricultural CoopJapan438,835,641-0.9%
19Credit Agricole AssurancesFrance437,112,823-7.8%
20Aegon LtdBermuda428,087,386-14.5%
21New York Life GroupUnited States405,318,3043.2%
22Aviva plcUnited Kingdom380,321,547-12%
23Zurich Insurance Group Ltd. Switzerland 377,782,000-13.3%
24Meiji Yasuda Life Insurance CompanyJapan367,834,5561.2%
25TIAA GroupUnited States365,300,0641.4%

Notes:

Percent changes are based on local currency.
1 – Premiums shown are earned premiums.

Source: ©A.M.BestCompany, Inc. — used by permission.

View our other data tables featuring: the top global reinsurance companies in the world; the top reinsurance brokers; the top U.S. property & casualty insurers; and the top global insurance and reinsurance brokers.

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World's Largest Insurance Companies - Reinsurance News (2024)

FAQs

Who is the largest reinsurance company in the world? ›

Munich Re

What is the world's largest insurance company? ›

Insurance News

UnitedHealth Group has retained its number-one slot in AM Best's ranking of the world's 25 largest insurance companies for the ninth straight year, according to the credit rating agency. UnitedHealth grew its net premiums written (NPW) by 14% in 2022 to US$257.2 billion.

Who is the top 5 insurance company? ›

Largest Car Insurance Companies: A Closer Look
  • #1 State Farm: Editor's Choice. ...
  • #2 Geico: Affordable for Most Drivers. ...
  • #3 Progressive: Low Rates for High-Risk Drivers. ...
  • #4 Allstate. ...
  • #5 USAA: Low Rates for Military. ...
  • #6 Liberty Mutual: Good Programs for Young Drivers. ...
  • #7 Farmers Insurance. ...
  • #8 Travelers: Most Coverage Options.
Apr 11, 2024

What is the biggest insurance company to fail? ›

Mutual Benefit Life Insurance Co: Serving the life insurance industry in the three-year rehabilitation of Mutual Benefit Life Insurance Company, the largest US insurer ever to fail.

Who are the Big Four reinsurers? ›

  • Swiss Re.
  • Munich Re.
  • SCOR.
  • Hannover Re.
Mar 27, 2024

Who is the richest person in insurance? ›

1. Warren Buffett. Buffett once again secures the top spot on the list of the country's wealthiest insurance tycoons. The man known as the “Oracle of Omaha” currently sits in the tenth spot of Forbes' overall rankings with a net worth of $103.6 billion.

Who is the most trusted insurance company? ›

Here's our list of the best auto insurance companies for each category, plus their average rates and what makes them the best.
  • Best company overall: Travelers.
  • Best for your budget: NJM.
  • Best for accident forgiveness: Geico.
  • Best for having few customer complaints: American Family.
  • Best for financial strength: Auto-Owners.

Who is the #1 insurance company in the USA? ›

State Farm is the biggest auto insurance company in the country by market share, while Progressive, Geico and Allstate are the next three.

What is the oldest insurance company in the world? ›

Hamburger Feuerkasse (English: Hamburg Fire Office) is the first officially established fire insurance company in the world, and the oldest existing insurance enterprise available to the public, having started in 1676.

Who makes the most money selling insurance? ›

While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.

Who is State Farm's biggest competitor? ›

Considering State Farm and Geico are the two biggest auto insurance companies in the U.S., most drivers can find what they need from either company, whether that's minimum or full coverage. However, there are a few key differences between State Farm vs. Geico when it comes to auto insurance options.

Which insurance company denies the most claims? ›

Claim denial rates by insurance company
CompanyClaim denials
UnitedHealthcare32%
Anthem23%
Aetna20%
CareSource20%
1 more row
Apr 24, 2024

What insurance company do millionaires use? ›

Best life insurance companies for high-net-worth individuals
CompanyPolicygenius ratingAM Best rating
Lincoln Financial4.8/5 ★A
MassMutual4.9/5 ★A++
Apr 3, 2024

What's the worst medical insurance company? ›

Here are what some consider to be the ten worst insurance companies in the United States:
  • UnitedHealth. ...
  • State Farm. ...
  • Elevance Health (formerly Anthem) ...
  • Unum. ...
  • Federal Employee Benefits. ...
  • Farmers. ...
  • Liberty Mutual. ...
  • USAA. USAA started in 1922, and like Farmers, it's one of the country's biggest homeowner's insurance companies.

Who is the father of reinsurance? ›

Guy Carpenter, the “Father of Modern-Day Reinsurance,” disrupted the cotton trade with a data-based approach to analyzing risk that lowered rates for his clients.

What is the oldest reinsurance company in the world? ›

The world has changed dramatically since Swiss Re was founded in 1863 in a two-room office in Zurich's old town. Today, we are the oldest independent reinsurer still in operation, with 14,000 employees in more than 80 offices globally.

What is the largest insurer in the nation? ›

50 Largest Health Insurance Companies in the U.S. Overall
RankHealth insurance companyTotal health plan enrollment in 2021
1Kaiser Permanente8,228,765
2Elevance Health (Anthem)4,670,236
3HCSC (including BCBS plans)4,419,293
4UnitedHealth Group4,306,492
47 more rows
Feb 26, 2024

Who was the first reinsurance company? ›

The first independent professional reinsurance company was the Cologne Re. The need for such a company was evident following the losses of the Great Fire in Hamburg. On 22nd December, 1842 invitations were sent to deliberate on the founding of a reinsurance company in Cologne.

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