Top 11 World’s Largest Insurance Companies

What is Insurance

Insurance is a contract, represented by a policy, in which an individual or article receives financial protection or repayment against losses from an insurance company. Insurance policies are used to border against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party.

There many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance.
Important-In order to select the best policy for you or your family, it is important to pay attention to the three critical components of most insurance policies, the deductible, premium, and policy limit.

Top 11 World’s largest insurance companies

Here, we distinguish or discuss some of the World’s largest insurance companies. There are many criteria on the basis to choose World’s largest insurance companies, such a list can be prepared: premium collections, income, profit, geographical area, assets, and more

AIA Group Ltd

AIA Group Limited and its subsidiaries comprise the largest independent publicly listed pan-Asian life insurance group. AIA provides insurance products to both individuals and businesses. It is the largest pan-Asian life insurance group, with a presence in 18 different markets including China, Australia, New Zealand, India, and Cambodia. AIA is the first World’s largest insurance companies.

AIG

AIG, or American International Group, has offices in 80 different countries.It mainly operates in three segments including general insurance (commercial and personal insurance), life, and retirement, as well as a technology subsidiary called Blackboard Insurance. AIG is the second World’s largest insurance company.

Allianz Insurance company

Allianz Group, based in Germany, is the third World’s largest insurance company in terms of assets. With over 86 million customers in 70 countries, it is a global leader in property and casualty insurance, life and health insurance, travel insurance, credit insurance, corporate insurance and asset management. Allianz is nominated in the top 3 largest insurance companies this year.

AXA S.A

The fourth world’s World’s largest insurance company is AXA. With over 102 million customers in 60 countries and an employee base of more than 125,000, AXA is one of the world’s leading insurance groups. Its main businesses are property and casualty insurance, life insurance, savings, retirement products, and asset management.

Berkshire Hathaway

Berkshire Hathaway Specialty Insurance provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop loss and homeowners insurance.

Berkshire Hathaway Specialty Insurance is an organization committed to providing long-term risk solutions and claims care to our customers backed by the financial strength of Berkshire Hathaway. It is a  fifth World’s largest insurance company.

6. China Life Insurance Company

The sixth World’s largest insurance company is China LifeInsurance Company. China developed many new things and produces new technology that all countries used the product of china.

Therefore, China Life Insurance company is the largest company in 2020 even it is so far and china’s life insurance company is focusing on the life and health insurance.The businesses are spread across life insurance, pension plans, asset management, property and casualty, investment holdings, and foreign operations.

ING

The seventh World’s largest insurance company is ING. The company provides a range of services including retail, direct, commercial, and investment banking, insurance, and asset management.

ING serves more than 37 million clients in over 40 different countries. In 2018, ING announced a partnership with another member of this list—AXA. Together, the two have an exclusive, multi-country digital partnership to provide insurance products to clients online through a centralized platform.

Ping an Insurance Company of China Ltd

The eighth World’s largest insurance company is Ping an Insurance Company of China Ltd and china and it is the largest life and health insurance company. Ping insurance is the personal financial services provider and it mostly provides banking, investment, and internet finance products.

Prudential Financial

The United States has many largest insurance companies but one of the top 9 companies is Prudential Financial and it is ninth World’s largest insurance company. It provides insurance, annuities, retirement products, and investment management services to clients in over 40 countries.

MetLife

The tenth World’s largest insurance company is MetLife. MetLife has more than 90 million customers in over 60 countries and this company is the largest and oldest provider of insurance, annuities, and employee benefit programs.

UnitedHealth Group Incorporated

The eleventh World’s largest insurance company is UnitedHealth Group Incorporated.this company is located in over 50 states and more than 130 countries. mostly it offers life insurance, health insurance and many more in the world.The UnitedHealth Group uses its experience and resources in clinical care to improve the performance of the health care services sector.

Final Word

However, there are many insurance companies but you have to choose which one is the best and provides different standards. So, mostly you will love to have life and health insurance.

A few things on your list should be the company’s rating, its financial asset if the company specializes in any particular type of insurance, rejection of claims in the past, the proximity of office, premium rates, and discounts offered on multiple policies. therefore, I have mentioned the Top 11 World’s largest insurance companies in over the world in 2020.