Insurance companies are financial institutions that provides financial protection against losses.
Insurance companies play an important role in society by providing financial protection to individuals and businesses. They also help to stabilize the economy by investing their premiums in a variety of assets.
Insurance companies pool risks from individuals and businesses and then pay out claims to those who suffer losses.
World’s largest insurance companies in 2023
The world’s largest insurance companies in 2023, ranked by net premiums written, are:
- UnitedHealth Group (US)
- Ping An Insurance (Group) Co. of China Ltd. (China)
- China Life Insurance Co., Ltd. (China)
- Centene Corporation (US)
- Humana Inc. (US)
- AXA SA (France)
- Assicurazioni Generali S.p.A. (Italy)
- Berkshire Hathaway Inc. (US)
- China Pacific Insurance (Group) Co Ltd. (China)
- AIA Group Limited (Hong Kong)
World’s largest insurance companies in details
Let’s now take a look at these insurance companies in more details:
UnitedHealth Group is a US-based healthcare company that provides health insurance, managed care, and pharmacy services. It is the largest insurer in the world by revenue and market capitalization.
Ping An Insurance (Group) Co. of China Ltd. is a Chinese insurance company that provides a wide range of insurance products, including property and casualty insurance, life insurance, and health insurance. It is the largest insurer in China by market capitalization.
China Life Insurance Co., Ltd. is a Chinese insurance company that provides life insurance, annuity, and asset management products. It is the largest life insurer in China by market capitalization.
Centene Corporation is a US-based managed care company that provides government-sponsored health insurance programs to low-income and disabled individuals. It is the largest managed care company in the US by revenue.
Humana Inc. is a US-based health insurance company that provides health insurance plans to individuals and employers. It is the fifth-largest insurer in the US by revenue.
AXA SA is a French insurance company that provides property and casualty insurance, life insurance, and asset management products. It is the largest insurer in Europe by market capitalization.
Assicurazioni Generali S.p.A. is an Italian insurance company that provides a wide range of insurance products, including property and casualty insurance, life insurance, and health insurance. It is the largest insurer in Italy by market capitalization.
Berkshire Hathaway Inc. is a US-based conglomerate that owns a number of businesses, including insurance companies. It is the largest insurer in the US by assets.
China Pacific Insurance (Group) Co Ltd. is a Chinese insurance company that provides a wide range of insurance products, including property and casualty insurance, life insurance, and health insurance. It is the second-largest insurer in China by market capitalization.
AIA Group Limited is a Hong Kong-based insurance company that provides a wide range of insurance products, including property and casualty insurance, life insurance, and health insurance. It is the largest insurer in Asia by market capitalization.
Insurance companies are regulated by state and federal governments. This regulation helps to ensure that insurance companies are financially sound and that they treat their policyholders fairly.
