10 Largest Insurance Companies in the World

Insurance companies provide customers and their families with the opportunity to protect themselves and their assets in case something going wrong. From car accidents to medical emergencies, insurance companies can save your wallet from life’s unexpected curveballs.

As you can probably imagine, companies that deal with such a widespread customer base have had to pay some massive premiums. Today we’ll be looking at 10 of the largest insurance companies in the world and ranking them according to net premiums written.

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

Source: wikimedia.org

People’s Insurance Company of China is a holding company as well as the the largest issuer of casualty insurance in China. Alongside health insurance, PICC’s insurance divisions also cover property, automobiles, tourists, households, and marine cargo. Along with several branches throughout China, PICC also has branches in London and New York.

Did You Know?

PICC’s establishment in Hong Kong lives by the motto “truthfulness, reliability, diligence and creativity”.

9. State Farm Group

Source: wikimedia.org

While State Farm is a Mutual Automobile Insurance Company, it also covers areas of business such as banking products and health and life insurance. State Farm also claims the title of the largest auto and home insurer in the United States. Approximately one out of every five cars in America is insured through State Farm.

Did You Know?

While State Farm may have started small, it now offers around 100 services and products and processes approximately 35,000 claims in a single day!

8. Assicurazioni Generali S.p.A.

Source: wikimedia.org

Assicurazioni Generali is the largest insurance company in Italy, and it is extremely active in other countries as well. In fact, the company gains over two thirds of its premium income from outside Italy. This company operates in multiple segments: Life, Non-Life, Asset Management, and Holding and Other Business.

Did You Know?

While this company is today often known simply as “Generali,” it was originally founded with a much lengthier name: Imperial Regia Privilegiata Compagnia di Assicurazioni Generali Austro-Italiche.

7. Kaiser Permanente

Source: wikimedia.org

Also known as the Kaiser Foundation Group of Health Plans, this insurance company is comprised of three groups: Kaiser Foundation Health Plan, Inc. (along with its subsidiaries), Kaiser Foundation Hospitals, and the regional Permanente Medical Groups. Kaiser Permanente is the largest managed care organization in the United States, and operates in eight different states.

Did You Know?

The company that grew into Kaiser Permanente was originally started at the peak of the Great Depression in order to provide care to industrial workers in need.

6. Anthem, Inc.

Source: wikimedia.org

Formerly known as WellPoint, Inc, Anthem, Inc. is the health insurance company behind household name brands such as Blue Cross Blue Shield Association and Amerigroup. Unfortunately, Anthem suffered a data breach in 2015–they successfully reached a settlement, but did not admit to any wrongdoing.

Did You Know?

In January of 2019, Anthem launched a partnership with Walmart in an attempt to make over-the-counter medications and healthcare more affordable and accessible.

5. Allianz SE

Source: wikimedia.org

This German company focuses on asset management alongside its insurance services, and was the largest insurance company in the world in 2014. Allianz operates in more than 70 countries, offering credit insurance and reinsurance in corporate settings around the globe. This company takes portfolio management very seriously, and states that they “believe in solving, not selling.”

Did You Know?

Allianz employs over 142,000 people and serves 92 million customers.

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

Source: wikimedia.org

This versatile Chinese insurance giant operates in six segments: life insurance, property and casualty insurance, banking, trust, securities and corporate. Ping An is the second largest insurance group in China, and one of its few privately owned insurance companies. Alongside health insurance, this company also provides personal accident, traffic, and life insurance.

Did You Know?

Ping An literally translates to “safe and well”, and has its headquarters established in Shenzhen.

3. China Life Insurance (Group) Company

Source: wikimedia.org

China Life Insurance Company is the largest insurance company in China, and is 70% state-owned. It is primarily a life insurance company and holds more than 200 million active life policies, but offers other types of personal insurance and reinsurance services as well.

Did You Know?

China Life Insurance Company centers their pleasant and innovative corporate culture around the motto “Success for You, Success by You”.

2. AXA S.A.

Source: wikimedia.org

This French multinational insurance firm provides global insurance among other financial management services. The AXA Group is diversified into an array of different companies that operate in various countries according to local regulations.

Did You Know?

AXA states that being the number one insurance brand worldwide isn’t enough, and that they’re always coming up with new ideas to try and improve their services. They also fund climate change research alongside supporting related innovative startups.

1. UnitedHealth Group Incorporated

Source: wikimedia.org

UnitedHealth Group Incorporated is the largest insurance company in the world by net premiums written. UnitedHealth offers its services to all 50 states and over 130 countries around the world while employing approximately 85,000 nurses and physicians. UnitedHealth Group offers service through two businesses: UnitedHealthcare and Optum.

Did You Know?

In alignment with socially responsible company values, UnitedHealth Group employees cumulatively volunteered 2.5 million hours in 2018 alone.