Revealed – world’s largest insurance coverage firms

UnitedHealth Group has retained its number-one slot in AM Finest’s rating of the world’s 25 largest insurance coverage firms for the ninth straight 12 months, in response to the credit standing company. UnitedHealth grew its internet premiums written (NPW) by 14% in 2022 to US$257.2 billion.

In the meantime, Allianz SE retained its high spot for nonbanking property at US$1.1 trillion, regardless of a ten% lower from the earlier 12 months, AM Finest reported.

The rankings of the world’s largest world insurance coverage firms, by each NPW and nonbanking property, had been launched within the January 2024 subject of Finest’s Assessment.

In accordance with AM Finest, the highest 10 insurers by NPW had been dominated by well being insurers, with US-based well being firms accounting for 4 of the highest 5. Centene Well being retained its number-two place, with NPW rising 13.2%. Elevance Well being, at quantity three, additionally retained its place with NPW rising 13.5%. Kaiser Basis Group of Well being Plans rose to quantity 4, whereas Ping An Insurance coverage (Group) Firm of China held regular at quantity 5. The one insurer within the high 25 that noticed its NPW fall was China Life Insurance coverage (Group) Co., which slid from fourth to sixth place.

Life insurers dominated the highest 25 by nonbanking property, with seven of the highest 10 offering life insurance coverage merchandise. Ping An rose from fourth to second place as its property spiked 11.4% to US$960.7 billion in 2022. Berkshire Hathaway fell from quantity two to quantity three, whereas China Life Insurance coverage (Group) Firm rose from fifth to fourth place. AXA S.A. took the number-five slot, whereas Prudential Monetary fell from quantity three to quantity six as its property tumbled by 26.4%.

High 10 world insurers by 2022 NPW:

1. UnitedHealth Group, United States
2. Centene Company, United States
3. Elevance Well being, United States
4. Kaiser Basis Group of Well being Plans, United States
5. Ping An Insurance coverage (Group) Firm of China, China
6. China Life Insurance coverage (Group) Firm, China
7. AXA S.A., France
8. Allianz SE, Germany
9. Humana, United States
10. State Farm Group, United States

High 10 world insurers by 2022 nonbanking property:

1. Allianz SE, Germany
2. Ping An Insurance coverage (Group) Firm of China, China
3. Berkshire Hathaway, United States
4. China Life Insurance coverage (Group) Firm, China
5. AXA S.A., France
6. Prudential Monetary, United States
7. MetLife, United States
8. Nippon Life Insurance coverage Firm, Japan
9. Manulife Monetary Group, China
10. Authorized & Basic Group, United Kingdom

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