11 Largest Insurance Companies in the World
11 Largest Insurance Companies in the World by ITI190 - Insurance Top Info 190. The largest insurance company in the world is usually seen from the total net profit it owns. Well, for those who want to know who the big insurance companies are, here is the answer.
Insurance companies are one of the most promising business fields today.
Public awareness of their various needs is a significant factor in this financial product becoming increasingly popular.
Although the public owns not all insurance products, some of them, such as health insurance, travel insurance, and vehicle insurance, are still excellent.
These three insurance products are generally offered at once by an insurance company. However, the premiums also vary, which will undoubtedly adjust to the financial conditions of the customers.
Well, for those of you who want to buy an insurance policy or still want to know the largest insurance companies in the world with the best service, ITI190 summarizes the information specifically for you.
List of the Largest Insurance Companies in the World
1. Berkshire Hathaway
The largest insurance company in the world that ITI190 discussed was Berkshire Hathaway.
Headquartered in Omaha, United States, this insurance company founded by Oliver Chace has a net profit of up to USD51,345,790,927.36.
The profit itself is obtained from insurance sales and investments made in various business lines such as transportation, property, and manufacturing.
2. Ping An Insurance
Engaged in the financial sector, this leading Chinese insurance company is also one of the largest insurance companies in the world.
In 2020, this insurance company successfully climbed to position 21 in Fortune's Global 500 list.
Its success is inseparable from its revenue, which reached USD184.2 million with a net profit of USD21.6 million.
3. UnitedHealth Group
Engaged in the financial sector, this leading Chinese insurance company is also one of the largest insurance companies in the world.
In 2020, this insurance company successfully climbed to position 21 in Fortune's Global 500 list.
Its success is inseparable from its revenue, which reached USD184.2 million with a net profit of USD21.6 million.
3. UnitedHealth Group
The next largest insurance company in the world is China Life Insurance.
The most prominent life insurance company in PRC is known to hold 45 percent of the country's market with total assets of around USD580.33 billion.
Its success in registering significant assets also made China Life [included in Fortune's Global 500 version, at number 51.
5. Allianz
Another of the largest insurance companies in the world is Allianz Insurance.
The company-headquartered in Munich, Germany, is already well known in various countries, including Indonesia.
In Indonesia alone, the total net profit earned by PT Asuransi Allianz Life is worth USD81,912,428.94.
Its profit value crept up by 48.66 percent year on year, which was also supported by investment income of USD173,626,345.10.
6. AIA Financial
Turning to Allianz, the next one included in the list of the largest insurance companies in the world is AIA Financial.
Founded in 1919, this insurance company, which also operates in Indonesia, was first founded in Singapore and headquartered in Hong Kong. Total net profit reached USD71,760,888.60 in the second quarter of 2020.
Based on the Cash Financial report, the net profit obtained by AIA Financial moved up by USD53,418,105.37 compared to the same period last year, which was only USD18,342,783.23.
7. AXA
AXA S.A is also known as one of the largest insurance companies in the world.
Founded in 1816, this global insurance company headquartered in France has a net profit of around 1.4 billion euros.
However, the profit obtained has decreased by up to 39 percent due to decreased assets and claims related to the coronavirus.
In this way, his party revised the company's growth target and canceled the distribution of dividends to each shareholder.
8. Prudential Plc
Prudential Plc is a financial services company based in London.
In 2020, this company was able to book a net profit of around USD2.18 billion.
In Indonesia, Prudential, with the company name P.T. Prudential Life Assurance, managed to record assets of USD4,571,693,683.61 as of the first quarter of 2020.
9. Anthem, Inc
One of the largest insurance companies in the world, Anthem Incorporated, is one of the companies that continues to increase net profit.
In 2020, this insurance company from the United States experienced an increase in revenue of 13.1 percent, where the value is USD104.21 billion with an estimated net profit of around USD4.80 billion.
10. Cigna
As the largest insurance company globally, Cigna Insurance last year seemed to have a bountiful harvest with a total net profit of USD 5.1 million.
The profit earned by the company increased by 94 percent and led Cigna Insurance to enter Fortune's Global 500 version with a position of up 197 rankings.
Cigna Insurance itself is world-class health insurance headquartered in the United States.
Apart from being superior to its health insurance products, Cigna also offers life insurance, accidents, disability, and dental insurance.
11. Munich Re
The last largest insurance company in the world is Munich Re.
Headquartered in Germany, this insurance company with 5 thousand customers has successfully recorded revenues of up to USD72.53 billion in 2020.
As for the net profit itself, Munich Re is one of the insurance companies that experienced 11.8 percent to USD3 04 billion.
So, those are the eleven largest insurance companies in the world. Some of them operate in Indonesia, such as Allianz, AXA, Cigna, AIA to Prudential.
11 Largest Insurance Companies in the World by ITI190 - Insurance Top Info 190.