Perspectives on the Global Insurance Market
Statistics and Trends in the Insurance Market
Top 10 Largest Insurance Companies in the World by Asset Size in 2020
1. Allianz
- Founded: 1890
- Allianz Headquarters: Munich, Germany
- Allianz Asset Value: USD 1,103.90 billion
- Allianz Revenue: USD 143.9 billion
- Allianz Market Cap: USD 104.4 billion
- Allianz Number of Employees: 147,268
Allianz Subsidiaries
- Allianz France
- Allianz Worldwide Care
- Allianz Global Investors
- Risklab
- Allianz Global Assistance
- Allianz Insurance plc
- Allianz Global Corporate and Specialty
- Allianz Life
- Club Marine
- Hunter Premium Funding
- Allianz Marine & Transit
- Euler Hermes
- Mondial Assistance Group
- Allianz Technology
- PIMCO
2. AXA
- Founded: 1816
- AXA Headquarters: 25 Avenue Matignon, Paris, France
- AXA Asset Value: USD 1,011.4 billion
- AXA Revenue: USD 113.1 billion
- AXA Market Cap: USD 67 billion
- AXA Number of Employees: 125,934
AXA Products and Services
- Life insurance
- Health insurance
- Property insurance
- Casualty insurance
- Investment management
3. Prudential Financial
- Founded: 1875
- Prudential Financial Headquarters: Prudential Plaza, Newark, New Jersey, USA
- Prudential Financial Asset Value: USD 896 billion
- Prudential Financial Revenue: USD 59.6 billion
- Prudential Financial Market Cap: USD 39 billion
- Prudential Financial Number of Employees: 49,705
Prudential Financial Products and Services
- Life insurance
- Mutual funds
- Retirement
- Annuity
- Real estate
4. Berkshire Hathaway
Berkshire Hathaway, an American multinational business managed by Warren Buffet, is fourth among the top ten largest insurance firms in the world by asset size. The headquarters of Berkshire Hathaway are in Omaha, Nebraska. Berkshire Hathaway is the world's largest financial services firm by revenue, with USD 247.5 billion in the previous fiscal year, and the world's fourth largest global insurer, with USD 817 billion in assets, as of 2020. Berkshire Hathaway has a market capitalization of USD 554 billion, making it one of the largest insurance firms in the world.
- Founded: 1839
- Berkshire Hathaway Headquarters: Kiewit Plaza, Omaha, Nebraska, USA
- Berkshire Hathaway Asset Value: USD 817 billion
- Berkshire Hathaway Revenue: USD 247.5 billion
- Berkshire Hathaway Market Cap: USD 554 billion
- Berkshire Hathaway Number of Employees: 389,300
Berkshire Hathaway Products and Services
- Diversified investments
- Property & casualty insurance
- Utilities
- Restaurants
- Food processing
- Aerospace
- Toys
- Media
- Automotive
- Sporting goods
- Consumer products
- Internet
- Real estate
5. MetLife
- Founded: 1868
- MetLife Headquarters: New York, New York, U.S.
- MetLife Total Asset Value: USD 740.4 billion
- MetLife Revenue: USD 67.94 billion
- MetLife Market Cap: USD 47.4 billion
- MetLife Number of Employees: 48,000
MetLife Products and Services
- Insurance
- Annuities
- Employee Benefits
6. Nippon Life
With assets of USD 710.9 billion, Nippon Life is one of the world's largest life insurance firms. Nippon Life is Japan's largest life insurance firm by revenue, with approximately 70,519 employees.
1889 was the year it was founded.
Nippon Life's headquarters are located in Ch-ku, Osaka, Japan.
Total Asset Value of Nippon Life: USD 740.4 billion
Nippon Life has a revenue of 58.23 billion dollars.
Nippon Life has a workforce of 70,519 people.
Nippon Life Products and Services
- General insurance
- Life insurance
- Health insurance
7. Japan Post Insurance
Japan Post Insurance is ranked seventh among the top ten largest insurance firms in the world. Japan Post Insurance is a Japanese global life insurer that was the fourth largest in the world in 2011. With assets of USD 666.6 billion, Japan Post Insurance is the world's seventh largest insurance firm by asset size.
- Founded: 1889
- Japan Post Insurance Headquarters: Chūō-ku, Osaka, Japan
- Japan Post Insurance Total Asset Value: USD 666.6 billion
- Japan Post Insurance Number of Employees: 5,400
Japan Post Insurance Products and Services
- Life insurance
8. Prudential plc
Prudential plc, a British multinational life insurance and financial services firm headquartered in London, United Kingdom, is ranked eighth on this list of the world's largest insurance companies. With over 20 million subscribers, the firm is best recognized as a worldwide life insurance provider. Last fiscal year, Prudential plc's assets totalled USD 646.2 billion, with revenues of USD 93.47 billion.
- Founded: 1848
- Prudential plc Headquarters: London, UK
- Prudential plc Total Asset Value: USD 646.2 billion
- Prudential plc Revenue: USD 93.74 billion
- Prudential plc Number of Employees: 23,792
Prudential plc Products and Services
- Life insurance
- Investment management
- Consumer finance
9. Legal & General
Legal & General is a British multinational financial services firm based in London. Investments, lifelong mortgages, pensions, annuities, life insurance, and general insurance are all offered by the firm. Legal & General is one of the world's largest insurance businesses, with assets of USD 625.7 billion.
- Founded: 1836
- Legal & General Headquarters: London, England, UK
- Legal & General Total Asset Value: USD 625.7 billion
- Legal & General Revenue: USD 83.68 million
Legal & General Products and Services
- Investments
- Lifetime Mortgages
- Pensions
- Annuities
- Life Insurance
- General Insurance
10. Ping An Insurance
Ping An Insurance, a Chinese holding company that deals with worldwide insurance and other financial services, rounds out our list of the top ten largest insurance firms in the world. Ping An Insurance is one of the world's largest insurers, with assets of more than USD 620.4 billion in its insurance segment.
- Founded: 1988
- Ping An Insurance Headquarters: Shenzhen, China
- Ping An Insurance Asset Value: USD 620.4 billion
- Ping An Insurance Revenue: USD 163.6 billion
- Ping An Insurance Market Cap: USD 211.4 billion
- Ping An Insurance Group Number of Employees: 190,000
Ping An Insurance Group’s Products and Services
- Life and Health Insurance
- Property and Casualty
- Banking
- Asset Management
- Fintech
- Healthtech
This is BizVibe’s list of the top 10 largest insurance companies in the world by asset size. These companies are changing the way global insurers provide their services to an ever-expanding global market. Find out how you can connect with these companies next.
Insurance Companies with the Largest Assets
The top 25 largest insurance firms by asset size as of 2020 are shown below.
Rank | Company | Total assets (USD billions) | Country |
| 1 | Allianz | 1103.9 | Germany |
| 2 | Axa | 1011.4 | France |
| 3 | Prudential Financial | 896 | United States |
| 4 | Berkshire Hathaway | 817 | United States |
| 5 | MetLife | 740.4 | United States |
| 6 | Nippon Life | 710.9 | Japan |
| 7 | Japan Post Insurance | 666.6 | Japan |
| 8 | Prudential plc | 646.2 | United Kingdom |
| 9 | Legal & General | 625.7 | United Kingdom |
| 10 | Ping An Insurance | 620.4 | China |
| 11 | Assicurazioni Generali | 590.5 | Italy |
| 12 | China Life Insurance | 579.4 | China |
| 13 | Manulife Financial | 550.3 | Canada |
| 14 | Aviva | 546.9 | United Kingdom |
| 15 | JA Kyosai | 529.2 | Japan |
| 16 | Dai-ichi Life | 504.6 | Japan |
| 17 | American International Group | 491.8 | United States |
| 18 | CNP Assurances | 475.7 | France |
| 19 | Aegon N.V. | 449.7 | Netherlands |
| 20 | Life Insurance Corporation | 449 | India |
| 21 | Crédit Agricole | 437.9 | France |
| 22 | Zurich Insurance Group | 395.3 | Switzerland |
| 23 | Meiji Yasuda Life | 379.9 | Japan |
| 24 | Sumitomo Life | 341.1 | Japan |
| 25 | New York Life Insurance Company | 339.1 | United States |
Source: AM Best
- With assets worth over USD 1,1 trillion, Allianz is the largest insurance company in the world by asset size.
- AXA is the other trillion-dollar company by assets among the top insurance companies.
- The top 25 biggest insurance companies all have assets worth in the USD billion range.
