Last year, the global insurance industry grew at a 4.7 percent annual rate, led by life and P&W insurance.
From 2010 to 2017, emerging markets accounted for 43 percent of total insurance growth.
From 2014 to 2017, emerging markets such as developing APAC, Latin America, and Africa experienced high profitability and premium growth.
In 2018, the net premiums written in the US insurance industry totaled $1.22 trillion.
Property and casualty insurers received 51% of premiums.
Life and annuity insurers received 49% of premiums.
Who is the world’s largest insurance company? With assets totaling USD 1,103.90 billion and a market cap of USD 104.4 billion, Allianz is the world’s largest insurance company by asset size and market cap. Allianz is a multinational European financial services corporation headquartered in Munich, Germany. Allianz has customers in over 70 countries for its insurance segment and surpassed AXA as the world’s largest insurance company in terms of asset size in 2019.
With total assets worth more than USD 1,011.4 trillion as of 2020, AXA ranks second on top 5 largest insurance companies by asset size. AXA is a French multinational insurance company headquartered in Paris that is well-known for its contributions to global insurance, investment management, and other financial services. AXA’s revenue last year was USD 113.1 billion, making it one of the world’s largest insurance companies in terms of revenue. AXA also has a market capitalization of USD 67 billion.
Prudential Financial, Inc.
Prudential Financial, a US-based insurance and asset management firm, is ranked third of the top 5 largest insurance companies in the world. Prudential Financial offers financial products and services to retail and institutional customers in the United States and more than 40 other countries. Prudential Financial is one of the world’s largest life insurance companies, with assets totaling USD 896 billion and a market capitalization of USD 39 billion.
Berkshire Hathaway Inc
Berkshire Hathaway, an American multinational conglomerate led by Warren Buffet, ranks fourth on the list of the top five largest insurance companies in the world by asset size. The headquarters of Berkshire Hathaway are in Omaha, Nebraska. As of 2020, Berkshire Hathaway is the world’s largest financial services company by revenue, with a revenue of USD 247.5 billion in the previous fiscal year, and the world’s fourth largest global insurer, with assets totaling USD 817 billion. Berkshire Hathaway’s market capitalization is set at USD 554 billion, making it one of the world’s largest insurance companies in terms of market capitalization.