We all face different dangers: the risk of an accident, illness, victim of a natural disaster or fire and, above all, the risk of life. All of these risks come not only with pain and suffering, but also with financial damage. Insurance is a way to prepare for the worst. It provides a guarantee that will be taken care of from the economic part of the pain.
In this article, we take a look at some of the largest insurance companies in the world. There are several criteria on which to base such a list: premium groups, income, earnings, geographic region, assets and more. The following list focuses on market value, 1 with the companies listed in alphabetical order. Financial figures are in progress until the end of 2019. The market value runs until February 2020.
- Insurance companies protect consumers after accidents, natural disasters, fires, and other life events.
- The two largest companies by market value are Berkshire Hathaway with $ 554 billion and Chinese Ping An with $ 211.4 billion.
- AIG was one of the insurance and financial services companies involved in the 2007-08 financial crisis, receiving a government bailout of $ 180 billion.
- With a market value of $ 277.5 billion, UnitedHealth provides health benefits and services to more than 115 million people.
AIA Group Ltd
The AIA Group was founded in 1919 in Singapore and its current headquarters are in Hong Kong. It is the largest life insurance group in all of Asia, and has a presence in 18 different markets, including China, Australia, New Zealand, India and Cambodia. He specializes in life insurance and other financial services. twoAs of December 31, 2019, AIA was reported to have assets of $ 284 billion and a market value of $ 126.2 billion on February 5, 2020. 3 2
AIG
AIG or American International Group has offices in 80 different countries. The company, founded in Shanghai in 1919, is currently based in New York City. It mainly operates in three sectors, including general insurance (commercial and personal insurance), life and retirement, 4 in addition to a technical subsidiary company called Blackboard Insurance.You may recognize the name as one of the companies that received a $ 180 billion bailout from the US government in the wake of the 2007-08 financial crisis. 6 According to the Financial Crisis Inquiry Commission, the credit default swaps were sold without collateral, leading to AIG's failure. 7 7
The company has since recovered, reporting assets of $ 525 billion and a market value of $ 45.2 billion.
Allianz SE
Founded in 1890, 10 Allianz is a leading financial services company offering products and services from insurance to asset management.Allianz serves clients in more than 70 countries. Insurance products range from property and accident products to health and life insurance products for corporate and individual clients. 11 The company is based in Germany. Allianz has a market value of $ 104.4 billion. 12
AXA
With more than 102 million clients in 56 countries and an employee base of more than 125,000, AXA is one of the world's leading insurance groups. Its core business is property and casualty insurance, life insurance, savings and asset management. 13It was founded in 1816 when many insurance companies merged to create AXA. The company is based in Paris, but has a presence in Africa, North, Central and South America, Asia Pacific, Europe and the Middle East.
AXA acquired 51% of Colpatria Seguros' operations in Colombia in 2013. 14 During the same year, it became the largest international insurance company operating in China as a result of its 50% ownership of Tian Ping (Company of China Property and Property Insurance). 15 AXA also acquired HSBC's offshore insurance operations in Mexico. 16 The AXA Group's market capitalization is currently around $ 67 billion.
Berkshire Hathaway
Berkshire Hathaway (BRK.A) was founded in 1889 and is associated with Warren Buffet, who transformed a midsize entity into one of the largest companies in the world. 18 yearsBerkshire Hathaway is now a leading investment group that invests in insurance, among other sectors, such as rail transport, finance, utilities, energy, manufacturing, services and retail through its subsidiaries.
Provides basic insurance, as well as property and risk reinsurance against victims. Companies such as Berkshire Hathaway Reinsurance Group, GEICO, Berkshire Hathaway Primary Group, General Re, National Indemnity Company, Medical Protection Company, Applied Underwriters, US Liability Insurance Company, Central States Indemnity Company, and Guard Insurance Group are subsidiaries of Berkshire. twenty
The company's market value reached a record $ 554 billion, with total assets exceeding $ 817 billion.
China life insurance
China Life Insurance (LFC) is one of the largest state-owned insurance and financial services companies in mainland China, as well as being a major player in the Chinese capital market as an institutional investor. 2. 3The company was founded in 1949 when the Chinese People's Insurance Company (PICC) was formed. The branch of PICC (Life) Co., Ltd. was established after its separation from PICC in 1996. PICC (Life) Co. Ltd. was renamed China Life Insurance Company in 1999. China Life Insurance was restructured in 2003 as China Company. life insurance (a group) that has seven subsidiaries. The companies spread through life insurance, retirement plans, asset, property and injury management, investment holdings and overseas operations. 24
The company is listed on the New York Stock Exchange, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange and is the largest market-value public life insurance company in the world. The company has a market capitalization of $ 123.9 billion.
ING Group
The Dutch multinational group ING was established in 1991. 26 The company offers a range of services, including retail, retail, commercial, investment, insurance, and asset management banking. ING serves more than 37 million clients in more than 40 different countries. 27In 2018, ING announced a partnership with another member on this list: AXA. Together, they have an exclusive digital partnership from multiple countries to provide insurance products to customers online through a centralized platform. The market value of ING 28 is approximately $ 47.7 billion.
Ping An of China
Ping An of China is mainly engaged in insurance, financial and banking services. It is one of the 50 largest companies listed on the Shanghai Stock Exchange. 29 Founded in 1988, it was the first Chinese company to adopt a shareholding structure. 30The company, based in Shenzhen, China, is one of the world's most valuable insurance companies and one of the world's largest asset management and investment companies. 31 Its subsidiaries include Ping An Life, Ping An Property & Assorting, Ping An Annuity and Ping An Health. The market value of the company is $ 211.4 billion. 32 33
Prudential Financial
Coverage dates back to 1875 when it was established to sell burial insurance to working class people in Newark, New Jersey. 34 The company today has a balance sheet with assets over $ 896 billion and a market value of $ 39 billion.MetLife
37 MetLife serves more than 100 million customers in more than 50 countries, has a market capitalization of $ 47.4 billion, and assets of $ 740.4 billion. 38 39 It is one of the largest insurance companies in the world and also provides services for the benefit of employees and pensions.The company's affiliates and subsidiaries include MetLife Investors and MetLife Bank, sold to GE Capital in 2013, MetLife Investment Securities, Metropolitan Properties Ventures, and Casualty Insurance Company.
United Health Group
UnitedHealth Group (UN) is among the most diversified healthcare companies in the United States. The two platforms, UnitedHealthcare Health Benefits and Optum Health Services, work together and serve more than 115 million people in every US state and 125 countries. 41 42UnitedHealth Group uses clinical experience and resources to improve the performance of the healthcare sector.
The company's market value was $ 277.5 billion on February 5, 2020. 43
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