They also offer health insurance, life insurance, pension products, annuities and mutual funds. The top 10 largest insurance companies in the world are driving stellar growth for the global insurance industry in 2020. Berkshire Hathaway is owned by Mr. Warren Buffet. HUB InternationalRevenue: $1.87 billionHeadquaters300 N. LaSalle St., 17th FloorChicago, IL Illinois 60654Tel. The following is a list of the world's largest publicly traded financial services companies, ordered by annual sales for the latest Fiscal Year that ended March 31, 2018 or prior (Currently all public companies with sales of $20 billion or more are included, while privately held companies are not included). Life and annuity insurers accounted for 49 percent of premiums. Ping An Insurance posted $157.4 billion in revenues last year. On the insurance side, they offer personal accident, general liability, legal expense, fire, travel, credit, life insurance, and health insurance. The various assorted supplemental insurance products include accident, cancer plans, general medical indemnity plans, care plans, medical and sickness riders, living benefit life plans, annuities in Japan and ordinary life insurance plans. : (949) 756-0271Website: http://www.alliant.com, 12. The managed care plans indicate preferred provider organizations as well as point of service plans, health maintenance organizations traditional indemnity plans and other hybrid plans. The Top 20 Insurance Companies in the World. UnitedHealth Group Inc. is currently the largest provider of health insurance coverage in the USA. Nippon Life is one of the largest life insurance companies in the world with assets totaling USD 710.9 billion. To achieve success as a new market entrant, it will be important to understand the different sectors of the insurance industry in 2020. AXA is a French multinational insurance firm headquartered in Paris and is known for its imprint in global insurance, investment management, and other financial services. It is mandatory to procure user consent prior to running these cookies on your website. It serves more than 90 million customers in over 60 countries. They are a multifaceted provider for a great number of health-related plans as well as financial services. The company was established in 1975 and continues to offer a variety of financial and insurance-related products and services throughout the world. They are well known for their wide variety of plans which also include hospital only, limited-benefit products and consumer-driven health plans. It has more than 85 million customers in over 70 countries. Here are the largest 15 brokerages listed in descending order based on 2017 revenue. The Balance Small Business is part of the, Private client services (personal coverages for wealthy individuals), Data and analytics (such as loss forecasting and benchmarking), Affinity programs (insurance programs designed for groups, such as franchises), Mergers and acquisitions (help facilitate transactions and manage risks). The data and rankings were published by A.M. Best , a credit rating company that issues reports on the financial stability of insurers. Others, such as USI and BBT, operate mainly in the United States. Its main businesses include life insurance, property and casualty insurance, wealth management, brokerage, and investment banking services. AXA ranks 2nd on BizVibe’s list of the top 10 largest insurance companies by asset size — with total assets worth over USD 1,011.4 trillion as of 2020. A binder issued by a broker will not become valid (and no coverage will be initiated) until the document is signed by an authorized representative of the insurer. What’s the future of the global insurance industry as the global market faces changes? This company is headquartered in Beijing, China. Reach the largest reinsurance audience. It offers retirement products, life insurance, property and casualty insurance, mortgage insurance, and other products. ... 20. They also offer fixed benefit dental and vision care plans, loss of income insurance including short term disability and life in the US, and critical illness care. It is a holding company which owns various subsidiary companies throughout several different sectors of business. Our platform is designed to help companies generate leads, shortlist suppliers, request for proposals, and identify global companies. Insurance brokers act as intermediaries between insurance companies and insurance buyers. Prudential Financial is the largest insurance provider in the United States with total assets amounting to $815.1 billion. MetLife ranks 5th on the list of the top 10 insurance companies in the world with assets totaling USD 740.4 billion and a market cap of USD 47.4 billion. It offers products and services throughout the United States, the Middle East, Africa, Asia, Europe, Latin American and Japan. Top 20 Global Insurance & Reinsurance Brokers. Unlike agents, brokers have no authority to bind insurance coverage or issue policies. The company is mainly known as a global life insurance provider with over 20 million customers. Credit Agricole Assurances offers a variety of banking and financial services. Hundreds of millions of people worldwide pay insurance premium regularly to ensure that the financial burden is taken care of by insurers if they fall sick, meet with an accident, or suffer a natural disaster. They are one of the largest Life Insurance providers in the country of China. : +44 (0) 203 124 6000Website: https://www.willis.com, 4. To initiate coverage on a client's behalf, a broker can ask an underwriter at the insurer to issue an insurance binder. There are multiple criteria to compile a list of the largest insurers such as net premiums written, profits, revenue, market capitalization, and assets. Anthem was previously known as Well-Point but changed its name. Berkshire Hathaway is headquartered out of Omaha, Nebraska. The company was founded by Carl Thieme and Wilhelm Finck in February of 1890. Employers secure the best packages which are the most affordable for their workers, and many supplemental providers offer side plans for accident, cancer, short-term disability and more. The top 25 largest insurance companies in the world, by net premiums written (NPW) and non-banking assets, have been revealed by global rating agency A.M. Best. These include Property and Casualty Insurance, Life Insurance and Other Business. The global insurance industry remains lucrative with growth rates rising at a stellar rate of 4.7 percent. Note that the list includes insurance brokerages only. Jardine Lloyd Thompson was formerly listed on the London Stock Exchange. It was founded in 1988 in Shenzhen. They offer these products and services locally as well as globally. Learn how your comment data is processed. It has a market capitalization of $42.4 billion. The global insurance industry remains lucrative with growth rates rising at a stellar rate of 4.7 percent. (914) 749-8500Website: https://usi.com, 10. Number 4 on the list of the top 10 largest insurance companies in the world by asset size is holding company Berkshire Hathaway, an American multinational conglomerate led by Warren Buffet. The insurance industry is booming as people realize the necessity of having a variety of different coverages.