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The 11 largest insurance companies in the world

largest insurance companies in the world

The 11 largest insurance companies in the world

We all face various risks such as the risk of accident, illness, being the victim of a natural disaster or fire and above all the danger of life, and all these risks come not only with pain and suffering, but also financially, and insurance. it is one of the methods to prepare for the worst since it provides the guarantee that you will be taken care of. It is the economic part of the pain.

Let's take a look at some of the largest insurance companies in the world, and there are many criteria from which this list can be prepared, such as distinguished business group, income, earnings, geographic area, assets, and also the market value of insurance companies in the market.

The most important insurance companies in the world

Insurance companies protect consumers after accidents, natural disasters, fires, and life events. The two largest companies by market value are Berkshire, at a rate of $ 554 billion, and China's Ping An Company at a rate of $ 211.4 billion.

The American company AIG was one of the financial services and insurance companies in the financial crisis of 2007, as it received a rescue plan from the government worth 180 billion dollars, and the United Health Company, which has a capital of market of 277.5 billion dollars, provides health benefits and health services to more than 115 million people.

1. AIA Group Limited

Founded in 1919 in Singapore and currently headquartered in Hong Kong, AIA Group is Asia's largest life insurance group, with a presence in 18 different markets, including China, Australia, New Zealand, India, and Cambodia, and specializes in life insurance and other financial services. AIA is reported to have assets of $ 284 billion and a market value of $ 126.2 billion.

2. American AIG Group

The group of companies AIG or American Global Group has many offices in 80 different countries, and the company was founded in Shanghai in 1919, and its headquarters are currently in New York City, and it mainly operates in three sectors, including insurance. general, that is, business, personal, life and retirement insurance. Perhaps you will recognize the name as one of the companies that received a bailout plan that was maintained, and according to the Financial Crisis Investigation Commission, the credit default swaps were sold without collateral, causing severe damage, and the company has since recovered and reported assets of $ 525 billion and a market value of $ 525 billion. $ 45.2 billion.

3. German company Allianz SE

Founded in 1890, the company 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 casualty products to health and life insurance products for corporate and individual clients. The company is based in Germany and the German company Allianz has a market value of $ 40 billion.

4. French company 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, whose core businesses are property and casualty insurance, life insurance, savings and management of assets.

The company was founded in 1816 when many insurance companies merged to create AXA. The company's headquarters are located in Paris, but it has a presence in Africa, North and Central America, South America, Asia Pacific, Europe and the Middle East, and the company has acquired 51% of Cleopatra's insurance operations. In Colombia, and became the largest international insurance company operating in China as a result of the acquisition of 50% of Tian Ping, id, a Chinese property and property insurance company, and AXA has also acquired insurance operations out of private life in Mexico.

5. Berkshire Hathaway Corporation

The company was founded in 1889 and later transformed from a medium-sized entity to one of the largest in the world. Berkshire Hathaway is now a leading investment group, involved in insurance among other sectors such as rail transportation, finance, utilities and energy, and manufacturing. Services and retail through its subsidiaries, and the company's market value has reached a record $ 554 billion, with total assets of more than $ 817 billion.

6. China Life Insurance Corporation

It 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, and the company was established in 1949 when the Insurance Company was formed. of the People of China and a limited subsidiary company was established in 1996. And it was renamed to become the life insurance company in China in 1999, and the company was restructured in 2003 as the life insurance company of China, which is a group with seven subsidiary companies, where the companies are distributed in life insurance, retirement plans and asset management. Property, accidents, holdings of investments and operations abroad.

The company is listed on the New York Stock Exchange, the Hong Kong Stock Exchange and the Shanghai Stock Exchange and is the world's largest public life insurer by market value. The company boasts of having a market capitalization of $ 123.9 billion.

7. Dutch ING Group

The Dutch multinational group ING was established in 1991. 26 The company offers a range of services including retail, retail, commercial and investment banking, insurance and asset management services. ING serves more than 37 million clients in more than 40 different countries. In 2018, ING announced About a partnership with another member, AXA, and they had an exclusive multi-country digital partnership to provide insurance products to online customers through a central platform, and the market value of ING is approximately $ 47.7 billion.

8. Ping An China Corporation

The company mainly deals with banking, financial and insurance services, and is one of the 50 largest companies listed on the Shanghai Stock Exchange, and was founded in 1988, and was the first Chinese company to adopt a structure of owned, and the company based in Shenzhen, China, is one of the most valuable insurance companies. In the world and one of the world's largest investment and asset management firms, the company's market value is $ 211.4 billion.

9. Newark Corporation

The history of the American Newark Company dates back to 1875, when it was established to sell burial insurance to members of the working class in Newark, USA, and today the company has an asset balance in excess of $ 896,000 million and a market value of $ 39 billion.

10. MetLife Corporation

MetLife Corporation serves more than 100 million customers in more than 50 countries. It has a market capitalization of $ 47.4 billion and assets of $ 740.4 billion. Its subsidiaries include MetLife Investments and MetLife Bank.

11. United Health Group

This group is one of the most diversified healthcare companies in the United States, working for health benefits and serving more than 115 million people in every US state and 125 countries. The group uses its experience and resources in clinical care to improve the performance of the health care services sector, achieving market value. The company has $ 277.5 billion.

Choosing the right insurance company to invest in is important and should not be based solely on the size of the company, and some of the things on your checklist should be the rating of the company, financial strength if the company specializes in some type of insurance in particular, the rejection of claims in the past, the proximity Office, premium rates and discounts offered in various documents