10 Biggest Insurance Companies

Insurance companies offer risk management to individuals, businesses and institutional customers through contracts. Although there are many different types of insurance companies, the basic principle is that the insurer guarantees payment or reimbursement in the event of a claim for the insured. Thanks to risk pooling, insurers have always been able to offer their customers affordable rates in many cases. Insurance companies offer policies that provide coverage for losses related to accidents, health, property, home ownership, professional liability, malpracticeand rugged, among other areas.

These are the 10 largest insurance companies by 12-month revenue. This list is limited to companies listed on stock exchanges in the United States or Canada, either directly or through ADR. Some companies outside the United States report earnings semi-annually instead of quarterly, so 12-month data may be older than for companies that report quarterly. Data courtesy of YCharts.com. All figures as of January 21, 2021.

Some of the stocks below are only traded over-the-counter (OTC) in the United States, not on stock exchanges. Trading stocks OTC often incurs higher trading costs than trading stocks on an exchange. This can reduce or even exceed potential returns.

  • Revenue (TTM): $279.2 billion
  • Net income (TTM): $35.8 billion
  • Market capitalization: $549.0 billion
  • 1 year follow-up Full return: 3.3%
  • Stock Exchange: New York Stock Exchange

Berkshire Hathaway Inc.. is a major conglomerate and one of the nation’s leading insurance companies, also owning businesses in sectors such as rail transportation, utilities and energy, manufacturing, services and retail. Berkshire provides primary insurance, as well as property and casualty risk reinsurance through companies such as GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, General Re, National Indemnity Company and others.

  • Revenue (TTM): $155.0 billion
  • Net income (TTM): $17.5 billion
  • Market cap: $230.8 billion
  • Total return over 1 year: 9.0%
  • Exchange: OTC

Ping An Insurance is mainly engaged in the fields of insurance, financial services and banking. It is one of the top 50 companies listed on the Shanghai Stock Exchange. Founded in 1988, it was China’s first stock insurance company. Its subsidiaries include Ping An Life, Ping An Property & Casualty, Ping An Annuity and Ping An Health, among others.

  • Revenue (TTM): $112.4 billion
  • Net income (TTM): $3.3 billion
  • Market cap: $55.7 billion
  • Total return over 1 year: -9.1%
  • Exchange: OTC

AXA is one of the world’s leading insurance groups with major businesses in property and casualty insurance, life insurance, savings and asset Management. Several insurance companies merged to create AXA in the 1990s. It operates in all major global markets.

  • Revenue (TTM): $111.1 billion
  • Net income (TTM): $7.2 billion
  • Market cap: $64.0 billion
  • Total return over 1 year: -9.0%
  • Stock Exchange: New York Stock Exchange

China Life Insurance is one of the largest state-owned insurance and financial services companies on the mainland, as well as a key player in the Chinese capital market as a institutional investor. The company was founded in 1949, the year of the founding of the People’s Republic of China. The company now has numerous subsidiaries spread across the areas of life insurance, pension plans, asset management, property and casualty insurance and investments.

  • Revenue (TTM): $97.5 billion
  • Net income (TTM): $7.7 billion
  • Market cap: $98.0 billion
  • Total return over 1 year: -3.4%
  • Exchange: OTC

Allianz is one of the world’s leading financial services companies, providing products and services ranging from insurance to asset management. It offers insurance products ranging from P&C policies to health and life insurance for businesses and individuals. The company is headquartered in Germany.

  • Revenue (TTM): $86.6 billion
  • Net income (TTM): $1.8 billion
  • Market cap: $28.5 billion
  • Total return over 1 year: 3.9%
  • Exchange: OTC

Based in Italy, Assicurazioni Generali is an international insurer. The company offers a variety of life, non-life and reinsurance products. While much of Assicurazioni Generali’s business is located in Europe, it is increasingly present in Asia and Latin America.

  • Revenue (TTM): $85.5 billion
  • Net profit (TTM): $4.0 billion
  • Market cap: $14.9 billion
  • Total return over 1 year: 7.0%
  • Exchange: OTC

With the Chinese central government as the majority shareholder, The People’s Insurance Co. operates a number of subsidiaries that provide property, life, pension and health insurance products, as well as reinsurance and various other offerings. The company also offers asset management services.

  • Revenue (TTM): $46.9 billion
  • Net income (TTM): $2.9 billion
  • Market cap: $18.8 billion
  • Total return over 1 year: 8.5%
  • Exchange: OTC

Aviva PLC, based in the United Kingdom, is an international insurance company offering transport, aviation, marine, fire, motor and life insurance products, as well as a range of financial services. Its UK Life and General Insurance activities are leaders in their domestic market in the United Kingdom

  • Revenue (TTM): $45.2 billion
  • Net income (TTM): $1.6 billion
  • Market cap: $21.8 billion
  • Total return over 1 year: 0.9%
  • Exchange: OTC

Legal & General Group is a London-based financial services and insurance company. With a global customer base, the company offers a range of asset management, retirement, savings and general insurance products.

  • Revenue (TTM): $35.1 billion
  • Net income (TTM): -0.7 billion dollars
  • Market cap: $49.9 billion
  • Total return over 1 year: 6.4%
  • Stock Exchange: New York Stock Exchange

Prudential PLC is a London-based insurance and investment services company offering products ranging from life, health, accident, property and casualty insurance policies to pensions, share plans, mortgages and other financial services. Prudential also caters to clients in all major global markets, including the UK, its home market.

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