Top largest insurance companies in the world 

Ping An Insurance Group

Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate. Its subsidiaries mainly deal with insurance, banking, asset management, financial services, healthcare, auto services and smart city. The company was founded in 1988 and is headquartered in Shenzhen. Ping An has successfully launched fintech and healthtech businesses such as Lufax Holding, OneConnect, Ping An Good Doctor (1833.HK), and Ping An HealthKonnect. It is the industry leader in the areas of AI medical imaging and natural language processing.

Ping An was the first Chinese financial institution in which foreign firms could own equity. The company went public in 2004, listing in Hong Kong and Shanghai. As of 31 December 2021, Charoen Pokphand Group is the biggest investor in Ping An, holding 6.8% stake.

Allianz

Allianz AG was founded in Berlin on 5 February 1890 by Carl von Thieme. The company is a component of the Euro Stoxx 50 stock market index. It has €2,432 billion of assets under management (AuM), of which €1,775 billion are third-party assets. It was the first company in the world to offer machine breakdown insurance until 1924. During World War II it employed more than 24,000 people.

Hitler’s first cabinet included Kurt Schmitt as a cabinet member under Adolf Hitler. In 1990, Allianz started an expansion into eight Eastern European countries with establishing a presence in Hungary. Purchases include Fireman’s Fund, an insurer in the U.S., and Assurances Générales de France (AGF), Paris.

AXA

AXA was founded in 1816 as Mutuelle de L’assurance contre L’incendie. It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies. As of 2011, Axa was the second most powerful trans. “AXA” is not an acronym, but was chosen because its name can be pronounced easily by people who speak any language. Axa Wealth was fined £1.8 million by the FCA for failing to ensure it gave suitable investment advice.

In 2018, they became the ‘Official Global Insurance’ partner of Premier League team Liverpool FC. Protection aims to market Axa’s Protection Account with the intention of becoming a leading protection provider. SunLife focuses solely on selling protection & savings products directly to UK customers. Axa Health sells private medical insurance in the UK. In 2009 it had a total of 2300 employees and 4000 brokers and advisors in Canada. In 2011 it was sold to Intact Financial Corp. for C$2.6 billion. The American arm of Axa is Axa Financial, Inc., which is known mainly through its subsidiaries.

UnitedHealth Group

UnitedHealth Group is the world’s eighth largest company by revenue and second-largest healthcare company behind CVS Health. UnitedHealthcare revenues comprise 80% of the Group’s overall revenue. The company has a market capitalization of $400.7 billion as of March 31, 2021. In 2001, EverCare, a UnitedHealth Group subsidiary merged with LifeMark Health Plans. In 2002, the company acquired GeoAccess and Medicaid insurance company AmeriChoice.

In 2003, it acquired Mid Atlantic Medical Services, an insurer serving Maryland, Washington D.C., Virginia, Delaware and West Virginia. UnitedHealth’s Optum division acquired Davita Medical Group from DaVita Inc. in June 2019 for $4.3 billion. That year, the company also agreed to acquire Equian for $3.2 billion. On June 19, 2019, UnitedHealth acquired the online patient community platform PatientsLikeMe. The Optum brand was created in 2011 as the company’s health services business.

Prudential Financial

In 2019, Prudential was the largest insurance provider in the United States with $815.1 billion in total assets. The company uses the Rock of Gibraltar as its logo. It was founded in 1875 by John F. Dryden, who later became a U.S. Senator. Prudential has evolved from a mutual insurance company to a joint stock company.

It is traded on the New York Stock Exchange under the symbol PRU. In 2003, Prudential formalized the acquisition of American Skandia for $1.2 billion. During the 1980s and 1990s, Prudential defrauded investors of close to $8 billion. In 1997, the company settled a class action lawsuit by millions of its customers who had been sold unnecessary life insurance.

Metlife

MetLife is among the largest global providers of insurance, annuities, and employee benefit programs. The company was founded on March 24, 1868. MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. In 2015, MetLife hired Hugh Dineen to fill the new role of chief marketing officer. MetLife co-owns the Walt Disney World Swan and Dolphin resort in Lake Buena Vista, Florida.

The predecessor company to MetLife began in 1863 when a group of New York City businessmen raised $100,000 for disabilities insurance. MetLife was founded in 1879 after observing the insurance industry in Great Britain. Joseph F. Knapp brought “workingmen’s” insurance programs to the United States. MetLife became the nation’s largest life insurer in the U.S. in 1909. In 1905, MetLife faced lost a legal case, Pavesich v. New England Life Insurance Company, where they attempted to use an image of another person for promotion but this was ruled a breach of privacy and libelous. The case became a standardly cited case on privacy in US law.

Zurich Insurance Group

Zurich Insurance Group is the world’s 112th largest public company according to Forbes’ Global 2000s list. Zurich employs 55,000 people, with customers in 215 countries and territories. As of 2012 it had shareholders’ equity of $34.494 billion. In 1925, Zurich became the official insurer of all new Ford vehicles in Great Britain. In 1950 it bought a share in “Companhia de Seguros Metrõpole S.A.” of Lisbon.

In 1996, Zurich acquired 80 percent of “K”. In September 1998, Zurich merged with British American Tobacco’s financial division to form “Zurich Financial Services”. In 2002, ZFS focused on insurance-related financial products and services. In 2003, the company posted a profit of US$2.1 billion, compared to a loss of $3.4 billion a year earlier. In April 2012, Zurich Financial Services Ltd changed its name to Zurich Insurance Group Ltd.

In December 2015, the CEO Martin Senn (who died by suicide in May 2016) announced his resignation. Mario Greco, CEO of Generali, was appointed CEO in January 2016.

Anthem

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