10 Largest Insurance Companies in the World
Insurance companies always try to provide the best service with the aim of gaining the trust of the public. That way the client will not hesitate to choose insurance products from that company. Until now there have been many large companies engaged in the insurance sector. Although not all insurance products are owned by the public, some of them, such as health insurance, travel insurance, and vehicle insurance, are still a necessity. These three insurance products are generally offered simultaneously by an insurance company. There are also various types, which are sure to adjust to the financial conditions of the customers. Here is the latest “10 Largest Insurance Companies” update which can be a recommendation for you.
1. Berkshire Hathaway
The largest insurance company in the world that Rihils first discussed was Berkshire Hathaway. Headquartered in Omaha, United States, this insurance company founded by Oliver Chace has a net profit of up to $ 52 billion USD. The profit itself is obtained not only from insurance sales, but also investments made in various business lines such as transportation, property, to manufacturing. This shows that Berkshire Hathaway has a lot of clients. Making this company very big and highly trusted by its members.
2. United Health Group
Apart from Ping An Insurance, this insurance company based in the United States has also made it into the list of the largest insurance companies in the world. Its estimated net profit is $260 billion. UnitedHealth Group Inc. offers a full range of health insurance products, both for individuals, retirees, the elderly, families, office employees, and military personnel. Its complete products make this company much sought after by the public because it can meet the necessary needs.
3. Ping An Insurance
Engaged in the financial sector, this leading insurance company originating from China is also one of the largest insurance companies in the world. Last year, this insurance company successfully climbed to position 21 on the Fortune Global 500 list. Its success cannot be separated from the revenue achieved, which reached USD 184.2 billion with a net profit of USD 21.6 billion. People are increasingly concerned about the importance of Insurance, and they choose Ping An Company as their choice. Ping An’s insurance users are increasing all the time.
4. China Life Insurance
The next largest insurance company in the world is China Life Insurance. The largest life insurance company in China is known to hold 45 percent of the country’s market with total assets of around USD 580.33 billion. Its success in recording large assets helped make China Life included in the Fortune Global 500, at 51st place. And perhaps this position will continue to climb considering the number of insurance users in the company continues to grow.
5. AIA Financials
Turning to Allianz, the next one included in the list of the largest insurance companies in the world is AIA Financial. Established since 1919, the insurance company which also operates in various countries in Asia, was first established in Singapore and has its head office in Hong Kong until now. Its net profit totaled $6 billion in the year’s quarter. Based on Kontan’s financial reports, the net profit earned by AIA Financial itself is moving up every year. The name AIA is indeed very familiar because it often appears on various Sports Sponsors.
The other largest insurance company in the world is Allianz Insurance. The company, which is headquartered in Munich, Germany, is already well-known in various countries, including in Asia. In Asia, the total net profit earned by PT Asuransi Allianz Life is $400,000,000 USD. The profit value has crept up by 48.66 percent. Often appearing in various Sponsors to the name Football Stadium makes the Allianz Company even more known. Especially now that Allianz’s insurance products continue to grow, which can meet the needs of people in various countries.
AXA S.A which is also known as one of the largest insurance companies in the world. Established since 1816, this global insurance company based in France has a net profit of around 1.4 billion Euros. However, the profit obtained actually decreased drastically by up to 39 percent due to a decrease in assets and claims. That way, his party revises the company’s growth target as well as cancels the distribution of dividends to each shareholder. However, Axa Company is still one of the best in terms of insurance.
Prudential Plc is a London-based financial services company. In 2021, this company was able to record a net profit of around $3 billion USD. Prudential with the company name PT Prudential Life Assurance has recorded total assets of $46 billion USD and is trusted to manage total customer investment funds (total investment assets) of $52 billion in the fourth quarter. The value continues to increase considering that Prudential is well-known in various countries.
One of the largest insurance companies in the world, Anthem Incorporated is a company that continues to show improvement in terms of net income. In the past, this insurance company from the United States experienced a revenue increase of 13.1 percent. Where, the value is USD 104.21 billion with an estimated net profit of around USD 4.80 billion. Anthem continues to innovate to provide convenience to its customers.
10. Munich Re
The last largest insurance company in the world is Munich Re. Headquartered in Germany, this insurance company with a total of 5 thousand customers has successfully recorded revenues of up to USD 72.53 billion in the past. As for its own net profit, Munich Re was one of the insurance companies which experienced an increase of 11.8 percent to USD3.04 billion. In the future, maybe Munich RE will continue to accelerate with the various insurance programs they have.
That’s 10 Largest Insurance Companies according to Rihils, thank you for visiting, I hope the information is useful.