The top insurance companies in the world are selected for their brand value and for the size and scope of their business. Insurance is essential to life and to business; but selecting an insurance company can sometimes be a headache, especially because the process of making claims is not always straightforward.
Nevertheless, through proper policy making, and efficient management, some insurance companies have been able to establish themselves as trustworthy names- top insurance companies with reputations to defend.
It takes years to earn the confidence of the people; and these companies have managed to do just that.
Top 100 Insurance Companies In The World
1. Ping An Insurance
Ping An Insurance is a global leader in insurance business; this is the biggest insurance company in the Chinese market; and it is a huge conglomerate encompassing areas such as insurance, health management, banking, asset management, and investment services.
The company was established in 1988, and it is headquartered in Shenzhen. Ping An has a strong presence in Asia; Macau, Hong Kong are some of its major markets, while some of the company’s subsidiaries are present in more than 20 countries.
Ping An Insurance has over 362,035 employees, and over $1.5 trillion in operating income.
2. Allianz SE
Allianz SE is one of the world’s biggest names in Insurance; it is a company headquartered in Germany, and which has business all over the world. The company does insurance, asset management, investments, and other financial services.
Allianz is publicly traded; it is a component of the Euro Stoxx 50 Market Index. Allianz has a long list of subsidiaries some of which are specific to individual markets; Allianz France, Bajaj Allianz, Allianz Worldwide Care, Allianz Global Investors, Allianz Insurance PLC, Risklab, Mondial Assistance Group, Allianz Partners, Allianz Global Corporate and Specialty, Allianz Life, Club Marine, Allianz Marine & Transit, Hunter Premium Funding, Euler Hermes, Allianz Technology, and PIMCO.
Allianz has over 159,253 employees globally, and has over $1.1 Trillion in operating income.
3. AXA SA
AXA SA is the same as GIG; it uses the latter name in its operations in the Middle East. AXA is a global power in the insurance business; it has business all over the world, but mainly in Europe, North America, the Middle East, with only a small part of its business presence being in Africa.
AXA is a company that understands the business of making money. The company has its own propriety method of investing in markets before they even come to the knowledge of other investment companies.
The company has over 147,000 people on its payroll, and they are located all over the world, while the company headquarters is located in Paris, France.
4. China Life Insurance Company Limited
China Life Insurance Company Limited is an insurance company based in Beijing; it is one of the biggest in the world. China Life Insurance Company Limited is owned both by public investors and the state of China.
It specifically offers insurance products, as well as financial services in the form of annuities, retirement savings, and other investments.
This company’s services are restricted to the People’s Republic of China.
5. Nippon Life Insurance Company
Nippon Life Insurance Company is a giant of the insurance business not just because of its USD74 Billion in Operating Revenue, but because it is one of the oldest, continuously operating insurance companies in the world. Nippon was founded July 4, 1889, and paid its first customer that same year.
The company offers services such as insurance, savings, investments, and retirement savings, as well as general insurance, health insurance, and life insurance.
6. Prudential Financial Inc
Prudential Financial Inc is an American insurance company; one of the most prominent in North America. The company offers such services like insurance, retirement planning, annuities, and other investment products.
This is the largest provider of insurance services in the United States of America; and it also provides its services to over 40 other countries across the world.
The company was established in 1875, and has grown from just an insurance company to a multi layered financial services company with over 50,000 people on its payroll.
Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide to both retail and institutional customers throughout the United States and in over 40 other countries. In 2019, Prudential was the largest insurance provider in the United States with $815.1 billion in total assets.
7. Manulife Financial Corporation
Manulife Financial Corporation is a solid insurance company that was established in 1887, as Manufacturers Life Insurance Company. The company has since grown to become one of the biggest names in insurance in North America and the world in general.
Manulife is quite a diverse company; its services include Asset management, Private banking, Wealth management, Mutual funds, Commercial mortgages, Insurance, Real estate, Commercial banking, Consumer banking, Group benefits, Investments, Reinsurance, Securities, and Underwriting.
The company has an operating income of over CA$750 billion in total assets.
8. Generali Group
Generali Group is the same as Assicurazioni Generali. It is one of the largest insurance companies in the world, and one of the industry leaders in Europe. Generali Group is headquartered in Trieste, Italy, and was established in 1831.
The company offers such services as Insurance, Banking, and Investment Management, as well as annuities, and retirement savings.
Generali Group has over €710 billion in assets, and has operations worldwide. Generali Group has over 74,621 employees, all across the world.
9. Aviva PLC
Aviva PLC is an insurance company headquartered in London, England. The company was established in 1698, but has undergone a series of mergers and acquisitions on the way towards taking its present shape.
Aviva offers services like Life insurance, Pensions, and General Insurance. The company is headquartered in the UK, but it has business, sometimes through acquired subsidiaries in many countries of the world.
The company has over 22,000 people on its payroll, and over £315 billion in total assets.
10. MetLife
MetLife is an insurance giant with over 90 million customers. The company is headquartered in New York City, USA. MetLife was established in 1868, and offers a variety of products including; Insurance, Retirement Products, Investments and so on. The bulk of the company’s business, by far, is made up of Insurance.
The company has business mostly in the United States, but it also operates in Japan, Latin America, Europe, Asia’s Pacific region, and the Middle East.
The company is one of the biggest Fortune 500 Companies, and has over US$759.71 billion in total assets.
The following is a more complete list of the top 100 insurance companies in the world.
| Position | Company Name | Headquarters | Total Assets | Type of Business | Areas Served |
| 1 | Ping An Insurance | Beijing, China | $1,503,340,967,957 | Investments, Insurance, Retirement Savings | Asia |
| 2 | Allianz SE | Germany | $1,188,984,895,600 | Insurance, Investments, Annuities, Retirement Savings, Real Estate | Worldwide |
| 3 | AXA SA | Paris, France | $878,166,008,400 | Insurance, Investments, Annuities, Retirement Savings | Worldwide |
| 4 | China Life Insurance Company Limited | Beijing, China, | $767,396,563,245 | Insurance | China |
| 5 | Nippon Life Insurance Company | Tokyo, Japan | $742,636,000,000 | Insurance, Investments, Annuities, Retirement savings, Asset management | Asia |
| 6 | Prudential Financial Inc | USA | $695,599,000,000 | Insurance, Health Management, Investment, Asset Management | Worldwide |
| 7 | Manulife Financial Corporation | United States | $688,680,000,000 | Insurance, Investments, Annuities, Asset Management | North America |
| 8 | Generali Group | Italy | $658,557,723,200 | Insurance, Investments, Annuities, Asset Management | Europe |
| 9 | Aviva PLC | London, England | $651,513,000,000 | Insurance, Investments, Asset Management | Europe |
| 10 | MetLife | New York, United States | $650,104,000,000 | Insurance, Annuities, Asset Management | North America |
| 11 | American International Group, Inc.
|
New York, United States | US$596.11 billion | Insurance, Annuities, Investments, Retirement Savings | North America, Europe |
| 12 | Dai-ichi Life Holdings, Inc. | Tokyo, Japan | $346.9 billion | Insurance, Annuities, Retirement Savings, Asset Management | Asia |
| 13 | Aegon N.V. | The Hague, Netherlands | €444,868 million | Insurance, Asset Management | Worldwide |
| 14 | CNP Assurances | Paris, France | $47.6 billion | Insurance, Retirement Savings, Annuities, Asset Management | Europe |
| 15 | Prudential PLC | London, England | $165.942 billion | Insurance, Life insurance, Investment management, Consumer finance | Worldwide |
| 16 | Phoenix Group Holdings | London, England | $2.6 Billion | Insurance, | Europe |
| 17 | Zurich Insurance Group | Zurich, Switzerland | US$435.826 billion | Life and non-life insurance, Retirement Savings, investments | Europe, America |
| 18 | Life Insurance Corporation of India | India | US$530 billion | Life insurance, Health insurance, Investment management, Mutual fund | Asia |
| 19 | Meiji Yasuda Life | Tokyo, Japan | JPY36,281.1 billion | Insurance | Japan |
| 20 | New York Life Insurance Co
|
New York | US$22.03 billion | Life insurance, annuities, long-term health management, asset management | North America |
| 21 | Corebridge Financial
|
Texas, United States | US$350 billion | General Insurance, Annuity, Life insurance, wealth management | Worldwide |
| 22 | Munich Re | Germany | €297.9 billion | Insurance, Investment Services, Retirement Savings, Real Estate, Wealth Management | Worldwide |
| 23 | AIA Group Limited | Hong Kong | US$284 billion | Life insurance, Annuities, accident and health, insurance, savings plans, employee benefits, Retirement Savings, variable contracts, investments, securities, credit life and pension services | Asia Pacific |
| 24 | Northwestern Mutual Life Insurance Company | Wisconsin, USA | $31.1 billion | Insurance, Investments, Retirement Savings | North America |
| 25 | Philippine American Life and General Insurance | Philippines | ₱292.97 billion | Insurance, annuities, mutual funds | Philippines |
| 26 | Sumitomo Life Insurance Company | Philippines | ₱292.97 billion | Insurance, annuities, mutual funds | Philippines |
| 27 | Massachusetts Mutual Life Insurance Company | United States | US$312 billion | Financial Services, Insurance, Retirement Savings, Long Term Healthcare, Life Insurance, Disability Income | United States |
| 28 | Nationwide Mutual Insurance Company | Ohio, United States | US$270.2 billion | Underwriting, Insurance, Annuities, Retirement Savings | United States |
| 29 | Swiss Life Group | Zurich, Switzerland | CHF10.3 billion | Life insurance, Investments, Retirement Savings, Asset management,
Health insurance |
Europe |
| 30 | Chunghwa Post | Taiwan | 7 trillion NT | Insurance, Savings, Parcel Delivery | Taiwan |
| 31 | NN Group N.V. | The Hague, Netherlands | €5.6 billion | Asset management,
Life insurance, Property insurance, Casualty insurance, Mortgages |
Europe |
| 32 | Tokio Marine Holdings | Marunouchi, Tokyo, Japan | JPY ¥ 5,863.7 billion | Insurance | Worldwide |
| 33 | Sun Life Financial | Canada | CA$1.44 trillion | Insurance, Annuities, Asset Management | North America |
| 34 | China Pacific Insurance | China | ¥133.3 billion RMB | Insurance, Annuities, Asset Management, Retirement Savings | China |
| 35 | MS&AD Insurance Group Holdings | Japan | JPY ¥ 5,132 billion | Insurance, Savings, Investments, Asset Management, Retirement Savings | Asia |
| 36 | UnitedHealth Group | United States | US$212.206 billion | Insurance | North America |
| 37 | USAA | Texas, United states | $128 billion | Insurance, Annuities, Asset Management, Retirement Savings | North America |
| 38 | State Farm Mutual Automobile Insurance Company | United States | 294.8 billion USD | Insurance, Casualty, Auto Insurance | United States |
| 39 | Pacific Mutual Holding Company | United States | 192 Billion USD | Insurance, Asset Management, Retirement Savings | United States |
| 40 | Swiss Reinsurance Company Ltd | Switzerland | 238.6 billion USD | Reinsurance, Underwriting, Asset Management | United States |
| 41 | Chubb | Zurich, Switzerland | 200 billion USD | Insurance | Europe |
| 42 | T&D Life Group | Japan | 17.81 trillion Japanese yen | Insurance, Retirement Savings, Investments | Asia |
| 43 | Nan Shan Life Insurance Co. Ltd. | Taiwan | $161 Billion | Insurance, Asset Management, Retirement Savings | Asia |
| 44 | Liberty Mutual Group | Massachusetts, United States | $156.043 billion | Insurance, Health Insurance, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 45 | Cigna Corp. | United states | 154.9 billion USD | Insurance, Health Insurance, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 46 | Royal London Mutual Insurance Society Limited | London, England | £147 billion | Retirement Savings, Insurance, Long Term Healthcare | Europe |
| 47 | Aflac Incorporated | United states | 157.5 billion USD | Insurance, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 48 | Ageas Insurance | Brussels, Belgium | $127.273B | Insurance, Long Term Healthcare, Asset Management, Retirement Savings | Europe |
| 49 | Sompo Holdings Inc | Japan | 13.79 trillion Japanese yen | Retirement Savings, Insurance, Long Term Healthcare | Asia |
| 50 | Alecta | Sweden | $110 billion | Insurance, Long Term Healthcare, Asset Management, Retirement Savings | Europe |
| 51 | India Post | India | $11 Billion | Money Transfer, Savings, Parcel Delivery | India |
| 52 | Talcott Resolution Life Insurance | USA | $91 billion | Insurance, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 53 | Athora Holding | Belgium | EUR81 billion | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Europe |
| 54 | Taikang Insurance Group | China | RMB 1.5trillion | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Asia |
| 55 | Hannover Re | Germany | $79.919B | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Europe |
| 56 | Kyobo Life Insurance | South Korea | KRW 131 trillion | Life Insurance, Retirement Savings | Asia |
| 57 | Groupama | Paris, France | €93.5 billion | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Europe |
| 58 | Mapfre | Spain | 69.15 billion EUR | Insurance, Investments, Healthcare, Asset Management, Retirement Savings | Europe |
| 59 | Baloise Holding | Basel, Switzerland | 78.78 billion CHF | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Europe |
| 60 | Great Eastern Life Assurance | Singapore | $100 billion | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Asia |
| 61 | Hartford Financial Services Group | United States | 70.82 billion USD | Investments, Insurance, Long Term Healthcare, | North America |
| 62 | American Equity Investment Life Holding Company | IOWA, United States | $73.92 Billion | Investments, Insurance, Annuities, Stocks, other investments | North America |
| 63 | Progressive Corporation | Ohio USA | 64.1 billion USD | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 64 | Storebrand ASA | Norway | 390.4 billion NOK | Insurance, Retirement Savings, Annuities, etc | Europe |
| 65 | Unum Group | Tennessee United States | $70.626B | Insurance, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 66 | Sampo | Helsinki, Finland | $64.573B | Insurance, Retirement Savings, Other Investments, etc | Europe |
| 67 | Guardian Life Insurance of America | New York, USA | $76 Billion | Insurance, Health and Casualty, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | North America |
| 68 | Migdal Insurance and Financial Holdings Ltd | Petah Tikva, Israel | $196,896,541 | Insurance, Investments, Annuities, Long Term Healthcare, Asset Management, Retirement Savings | Israel |
| 69 | Old Mutual plc | Johannesburg, South Africa | $64.6 Billion | Insurance, Investments, Annuities, Asset Management, Retirement Savings | South Africa, Zimbabwe, Namibia, Ghana, Nigeria, Malawi, Botswana, Swaziland, China |
| 70 | Western and Southern Financial Group | Ohio, United States | $111.6 Billion | Insurance, Savings and Loans, Investments, Annuities, Asset Management, Retirement Savings | North America |
| 71 | Swiss National Accident Insurance Fund | Luzern, Switzerland | $60.15 Billion | Insurance, Casualty, Fire, Accident, Auto, Medical, Savings | Europe |
| 72 | CNA Financial Corporation | Chicago, Illinois, United States | $60.927 Billion | Insurance, Savings and Loans, Investments, Annuities, Asset Management, Retirement Savings | North America |
| 73 | Varma | Helsinki, Finland | $45.96 Billion | Insurance, Employee Insurance, Self Employed Insurance, Workplace Risk Assessment | Finland |
| 74 | Fukoku Mutual Life Insurance Company | Tokyo, Japan | $49.9 billion | Insurance, Savings and Loans, Investments, Annuities, Asset Management, Retirement Savings | Japan |
| 75 | QBE Insurance Group | Sydney, Australia | $46.6 Billion | Insurance, Health Management, Investments, Annuities, Asset Management, Retirement Savings | Oceania, South East Asia |
| 76 | Venerable Holdings | Pennsylvania, USA | $24 Billion | Insurance, Savings and Loans, Investments, Annuities, Asset Management, Retirement Savings | America |
| 77 | Markel Corporation | Virginia, USA | $48.45 Billion | Insurance, Investments, Asset Management | North America |
| 78 | China Re | China | RMB162.732 billion | Insurance, Underwriting, Investments, Asset Management | China |
| 77 | Folksam | Stockholm, Sweden | EUR 60bn | Insurance, Health Management, Investments, Annuities, Asset Management, Retirement Savings | Europe |
| 78 | Velliv | Ballerup, Hovedstaden, Denmark | $43.4 billion | Insurance, Investments, Annuities, Asset Management, Retirement Savings | Europe |
| 79 | Arch Capital Group | Hamilton, Bermuda | $45.11 Billion | Insurance, Savings and Loans, Real Estate, Investments, Annuities, Asset Management, Retirement Savings | Bermuda, Canada, Europe, Australia, the United States, Hong Kong |
| 80 | Ohio National Financial Services | Ohio, United States | $34 billion | Insurance, Real Estate, Investments, Annuities, Asset Management, Retirement Savings | North America |
| 81 | Clal Insurance Enterprises Holdings | Tel Aviv-Yafo, Israel | $144.3 Billion | Insurance, Investments, Annuities, Asset Management, Retirement Savings | Middle East |
| 82 | Harel Insurance Investments and Financial Services | Ramat Gan, Israel | $158.26 billion | Insurance, Annuities, Real Estate, Asset Management, Mutual funds, Retirement Savings | Middle East |
| 83 | Humana Inc | Kentucky, United States | $44.36 billion | Health Insurance, Long Term Health Management | North America |
| 84 | Aon PLC | London, United Kingdom | $32.7 billion | Investment, Wealth, Health, Human Capital, Commercial Risk, Reinsurance Solutions | Worldwide |
| 85 | American Family Mutual Insurance Company | Wisconsin, United states | $31.1 billion | Insurance, Wealth Management, Annuities, Investments | North America |
| 86 | Everest Re | Bermuda | $39.66 billion | Insurance, Wealth Management, Annuities, Investments | Oceania, North America |
| 87 | Independence Health Group | Philadelphia, Pennsylvania, USA | $29.5 billion | Health insurance, long term health management | North America |
| 88 | CUNA Mutual Group | Madison, Wisconsin, USA | $20.6 billion | Investments, Insurance, Asset Management | North America |
| 89 | NTUC Income | Singapore | $27.6 billion | Insurance, Investment Products, Asset Management | Asia |
| 90 | PartnerRe Ltd | Bermuda | $27.2 billion | Insurance, underwriting, reinsurance, investments | Asia pacific and North America |
| 91 | RenaissanceRe | Bermuda | $36.553 Billion | Insurance, underwriting, reinsurance, investments | Asia pacific and North America |
| 92 | RSA Insurance Group | London, England | $14.05 Billion | Insurance, Annuities, Real Estate, Asset Management, Mutual funds, Retirement Savings | Worldwide |
| 93 | Mutual of America Life Insurance Company | New York, USA | $23.6 billion | Insurance, Annuities, Asset Management, Retirement Savings | North America |
| 94 | Factory Mutual Insurance Company | Rhode Island, United States | $24 billion | Insurance, Annuities, Asset Management, Retirement Savings | America |
| 95 | Mirae Asset Life Insurance | South Korea | $26 billion | Insurance, Savings and Loans, Annuities, Asset Management, Retirement Savings | Asia |
| 96 | California State Compensation Insurance Fund | San Francisco, California | $20 billion | Insurance, Savings and Loans, Annuities, Retirement Savings | North America |
| 97 | New York State Insurance Fund | New York | $18 billion | Insurance, Annuities, Retirement Savings | North America |
Related:
- Top 100 Highest Currencies In The World
- Top 100 Business Schools In The World
- Top 100 Busiest Airports In the World
Closing
The top 100 insurance companies are not selected only because of the size of their total assets, but because of the value of their brands as shown by their stock prices, and the size of the market share they control. Their ranks may also be influenced by the strength of their local economies.