Insurance companies are important players in the global financial economy, although they may not be as flashy as investment banks or hedge funds. They come in many sizes and specialize in different policy lines, from health to life to property & casualty.
There are a number of ways to rank the size of insurance companies. Companies can be measured by their market capitalization (the value of the company on a stock exchange), by using sales figures or by their total assets. This work will be focused on the realization of the ranking of the largest insurance companies in the world by total assets. An asset is any item with economic value that is held by a company and the total assets are defined as the sum of all current and long-term assets held by a company.
Following is a list of the top 70 insurance companies in the world ranked by total assets. In the top 70 insurance companies there are 22 US insurance companies, 10 Japanese insurance companies, 6 UK insurance companies, 5 Chinese insurance companies, 4 French insurance companies, 4 Swiss insurance companies, 3 German insurance companies, 3 from Netherlands, 3 from Taiwan, 3 from Canada, 2 Italian insurance companies, 2 from South Korea, 1 from Belgium, 1 form Hong Kong and 1 form India.
The world’s largest insurance company by assets is Allianz with 1047 billion USD, followed by AXA with 1038 billion USD and Ping An Insurance with 926 USD. In the fourth place, there is Prudential Financial with 821 billion USD and in the fifth place, there is Metlife with 721 billion USD.
In the last three places of the ranking of the largest insurance companies in the world by assets there are Travelers Companies with 104 billion USD, Groupama with 103 billion USD and Phoenix Group Holdings with 101 billion USD.
|3||Ping An Insurance||926||China|
|6||Japan Post Insurance||699||Japan|
|8||Nippon Life Insurance Company||661||Japan|
|10||Legal & General||643||UK|
|15||American International Group||203||US|
|16||Dai-ichi Life Holdings||476||Japan|
|19||China Life Insurance||431||China|
|20||Zurich Insurance Group||381||Switzerland|
|21||Meiji Yasuda Life Insurance Company||360||Japan|
|22||Power Financial Corp||338||Canada|
|23||Sumitomo Life Insurance Company||316||Japan|
|25||Life Insurance Corporation of India||310||India|
|27||New York Life||288||US|
|28||Cathay Financial Holding||287||Taiwan|
|30||NN Group NV||270||Netherlands|
|33||Standard Life Aberdeen||249||UK|
|35||Samsung Life Insurance||245||South Korea|
|37||Nationwide Mutual Insurance||228||US|
|40||Hartford Financial Services||224||US|
|44||Swiss Life Holding||209||Switzerland|
|45||Sun Life Financial||206||Canada|
|46||Tokio Marine Holdings||202||Japan|
|47||MS&AD Insurance Group||198||Japan|
|48||AIA Group||197||Hong Kong|
|50||China Pacific Insurance Group||172||China|
|53||Pacific Mutual Holding Company||143||US|
|54||People’s Insurance Company of China||141||China|
|55||Liberty Mutual Holding Company||138||US|
|61||Covea Mutual Insurance Group||112||France|
|63||Shin Kong Financial||110||Taiwan|
|64||Hanwha Life||109||South Korea|
|65||New China Life Insurance||107||China|
|66||Unipol Gruppo Finanziario||106||Italy|
|70||Phoenix Group Holdings||101||UK|
In the ranking of the 70 largest insurance companies in the world by total assets are included only the insurance companies for which there were public information about the total assets. The data used in this work have been collected from the main financial sites. For most of the insurance companies, the total assets refer to the 2017 balance sheet, except New York Life, State Farm, Pacific Mutual Holding Company, Covea Mutual Insurance Group and Groupama, in which refer to the 2016 balance sheet. The total assets are expressed in billions of USD.