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Top 25 largest insurance companies in the world

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The top 25 largest insurance companies in the world, by net premiums written (NPW) and non-banking assets, have been revealed by global rating agency A.M. Best.

US-based health insurance giant, United Health Group Incorporated, has claimed the top spot by NPW for the fourth year running, with $158.8 billion (about AU$220.2billion) in 2017. Allianz SE was crowned the world’s largest insurer by non-banking assets, moving up two places in the 2017 rankings and bumping MetLife Inc. down to fifth position. MetLife’s fall was advanced by a large reserve charge in 2017, related to its group annuity business to compensate for unpaid benefits.

Overall, the annual rankings were relatively stable in the top slots. Four of the top five insurers by NPW stayed the same as 2016, and all of the top five insurers by non-banking assets remained the same. US health insurance carriers and Chinese insurers continue to rule the top spots in terms of NPW, making up six of the top 10 insurers.

Chinese-based Ping An Insurance (Group) Company of China Ltd. was the newcomer in the NPW top five, following a 2017 year-over-year premium increase of 30%. The Chinese insurer jumped five slots to rank fourth in 2017. Another company to make significant NPW progress was Berkshire Hathaway Inc., which climbed to No. 11 from No. 16 after a premium rise of 33% in 2017.

The A.M. Best rankings of the world’s largest global insurance companies were released in the December 31, 2018, issue of BestWeek. The rankings were based on BestLink data and additional A.M. Best research.

Without further ado, the 25 biggest insurance companies in the world by net premiums written (all in US dollars) are:

1. UnitedHealth Group Incorporated

Country of domicile: United States of America

Net premiums written: $158.5 billion

2. AXA S.A.

Country of domicile: France

Net premiums written: $104.5 billion

3. China Life Insurance (Group) Company

Country of domicile: China

Net premiums written: $97.6 billion

4. Ping An Insurance (Group) Company of China Ltd.

Country of domicile: China

Net premiums written: $90.3 billion

5. Allianz SE

Country of domicile: Germany

Net premiums written: $86.8 billion

6. Anthem, Inc.

Country of domicile: United States of America

Net premiums written: $84.2 billion

7. Kaiser Foundation Group of Health Plans

Country of domicile: United States of America

Net premiums written: $83.6 billion

8. Assicurazioni Generali S.p.A.

Country of domicile: Italy

Net premiums written: $77.5 billion

9. State Farm Group

Country of domicile: United States of America

Net premiums written: $69.9 billion

10. People’s Insurance Company (Group) of China Ltd.

Country of domicile: China

Net premiums written: $68.9 billion

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