The insurance industry is booming as people realize the necessity of having a variety of different coverages. An aging population is in need of supplemental insurance to cover medical, dental and vision, as well as long-term care plans. 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. Workers who can afford to pay a little more out of pocket per month are adding these plans, making the companies a good bet for investors. We surveyed the largest insurance companies worldwide to find the top 20 in accordance with market capitalization. Although some of the companies on our list offer insurance, plus financial services products and related services, we've included them as this is as much a part of the global insurance market at the health and life aspects of coverage. They are as follows.
20. Legal & General Group Plc - MC: $19.07 billion
This company offers health, disability, accident, critical illness, savings, individual term assurance, death benefits, and annuities. They also offer sickness, unemployment and pet insurance.
19. Manulife Financial Corporation - MC: $34.653 billion
This company is based in Canada but also provides services for the United States, Asia, and reinsurance on a global level. They offer a range of insurances and financial products including financial protection, investment management services for groups, business, families and individuals, and more. They also offer health insurance, life insurance, pension products, annuities and mutual funds.
18. Japan Post Holdings, Ltd. - MC: $34.81 billion
Japan Post Holdings Co., Ltd. offers a wide variety of services and products in the postal, banking and insurance sectors of business. They provide postal and domestic logistics, post office, internal logistics, life insurance, banking, and other services. They are a leader in the global market adn for the insurance segment, they cover both life and non-life based insurance products. The company was established in 1981 and has been in operation for more than a century. Their current headquarters is located in Tokyo, Japan. This company holds $723 billion in Non-banking assets. This mostly-government owned company handles all of the mail and post services for the country of Japan, and they provide a great deal of information, as well as financial services.
17. Credit Agricole Assurances SA - MC: $34.93 billion
Credit Agricole Assurances offers a variety of banking and financial services. They're a wealth management and banking corporation which also offers life insurance, casualty, personal insurance, property, and credit insurance. They're also involved in specialized financial services adn serve small businesses, corporations, individuals and local French authorities as well as for those abroad. The headquarters is located in Montrouge, France, and the company was established in November of 1894.
16. Prudential Financial, Inc. - MC: $35.49 billion
Prudential Financial, Inc. is headquartered in Newark, New Jersey, USA. This company is one of the largest insurance providers in the United States. It offers a variety of financial products which include life insurance, mutual funds, investment management, and annuities. On the insurance front, they offer international insurances complete with retirement plans as well as life. The company was established in 1975 and continues to offer a variety of financial and insurance-related products and services throughout the world.
15. Humana Inc. - MC: $36.92 billion
Humana Inc is headquartered in Louisville, Kentucky and was established in 1961. This company provides health insurance to more than 13 million American consumers. It was ranked as the third-biggest health insurance provider in the United States. It was subjected to investigation and controversy when a flier sent out to medicare recipients was ruled as being deceptive. Even though there was a degree of mistrust in the company after this incident was brought to the attention of the public, it continued with business as usual and the event seems to be swept under the carpet or forgotten. Still, the company continues to bring in high revenues and it's currently thriving within the industry.
14. Aflac, Inc. - MC: $38.803 billion
Aflac Incorporated provides a wide range of voluntary supplemental health insurance products as well as life insurance. They operate within the United States and in the country of Japan. 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. 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. Aflac Incorporated was founded in 1955 and is currently headquartered in Columbus, Georgia. One of the biggest drawing cards for Aflac, since its beginning, was the fact that in most cases the company pays clients directly instead of issuing checks to the service providers. Checks may be sent to providers directly, however, at the request of the policyholder. Many of the plans help to supplement expenses associated with travel, lodging, and meals to and from medical appointments or stays for family members under certain plans. There is no strict designation as to how the policy benefits must be spent.
13. MetLife, Inc. - MC: $44.43 billion
MetLife, Inc. is one of the leading providers of employee benefit programs, annuities, and insurance in the United States. It offers products and services throughout the United States, the Middle East, Africa, Asia, Europe, Latin American and Japan. Numerous subsidiaries and affiliates operate through MetLife.
12. China Life Insurance Company - MC: $102.04 billion
China Life Insurance is one of the largest insurance providers within the country of China. Its headquarters are located in Beijing, China. It is a Global company that made it to Fortune magazine's Global 500 company list for 2015, and it came in at number 94. This company is seventy percent state-owned, and although they had a few very rough years, it is apparent that the company has made it through the rough spots to become the biggest life insurance provider in the entire country of China. They also offer annuity products
11. Prudential PLC - MC $44.536 billion
Prudential PLC is based in London, England and serves the United Kingdom and other countries throughout the world with a variety of insurance services and products. These include life insurance, accident, and health, property and casualty. They also offer group pensions, personal pension, mortgages, equity plans, fixed and variable annuities, and deposit accounts. They are a multifaceted provider for a great number of health-related plans as well as financial services.
10. American International Group, Inc. - MC: $49.6 billion
American International Group Inc, aka AIG, is a global insurance provider offering a range of insurance services and products. These include retirement products, life insurance, property and casualty insurance, and commercial and individual financial services. They also provide Consumer Insurance and Commercial Insurance as well as offerings from their Legacy Portfolio division with casualty run-off insurance lines and run-off lines in Legacy investments.
9. AXA SA - MC: $54.59 billion
AXA SA is a holding company that offers a combination of insurance as well as asset management services. It operates in France, providing life and Savings policies, as well as Property and Casualty insurance, and they're involved with AXA Banque France and France holdings. The Europe division offers Property and Casualty, and Life and SAvings in Switzerland, the United Kingdom and Ireland, Belgium, Germany, Italy, and Spain. The Asian division provides Life and Savings policies in Hong Kong, Japan and other parts of Asia. The AXA XL division offers Property and Casualty at XL Group and includes ACA Corporate Solutions Assurance. They offer Life and Savings for the United States as well as Asset Management services. AXA SA also offers Life and Savings fand Property and Casualty within the Middle East, Africa, Latin American, India, Malaysia, and Singapore. The headquarters is in Paris, France.
8. Zurich Insurance Group AG - MC: $56.44 billion
Zurich Insurance Group AG is headquartered in Zurich, Switzerland and was founded in 1972. The company provides a variety of insurance products and services related to these products. Some of the products include property and casualty, life, farmers, group functions fand operations, motor, home, and commercial insurances for individuals, small and large businesses. They offer these products and services locally as well as globally.
7. Anthem, Inc. - MC: $64.60 billion
Anthem, Inc operates through its various subsidiaries to offer health benefits within the United States of America. There are three main divisions within the company which include Government Business, Commercial and Specialty Business and Other. The primary service and products they offer are managed care health benefit plans. These are available to both small and large groups, individuals, Medicare and Medicaid markets. 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. They are well known for their wide variety of plans which also include hospital only, limited-benefit products and consumer-driven health plans. Anthem was previously known as Well-Point but changed its name.
6. Allianz SE - MC: $89.20 billion
Allianz SE is headquartered in Munich, Germany. The company was founded by Carl Thieme and Wilhelm Finck in February of 1890. It has been in operation for over a century, offering both investment and insurance advisory services. The company currently offers property and casualty insurances, life and health as well as asset management and corporate services. On the insurance side, they offer personal accident, general liability, legal expense, fire, travel, credit, life insurance, and health insurance.
5. China Life Insurance Group Company - MC: $103.318 billion
This company is headquartered in Beijing, China. They operate within the financial services sector in the Life insurance industry. China Life Insurance Group Company employes 101,272 persons in their workforce. They are one of the largest Life Insurance providers in the country of China.
4. UnitedHealth Group Incorporated - MC: $220.35 billion
UnitedHealth Group Inc. is currently the largest provider of health insurance coverage in the USA. The company provides medical benefits throughout the United States as well as for international businesses. They're the nation's leader in self-directed, government-backed and employer-sponsored health insurance plans. The massive company offers a variety of different coverages that range from medical coverage, pharmaceutical benefits, and outpatient care, through analytics for their affiliates as well as for third-party clients. The estimates for Net premiums written are estimated at $158.5 billion.
3. China Pacific Insurance Company - MC: $234.43 billion
China Pacific Insurance (Group) Co. Ltd. operates through three main divisions. These include Property and Casualty Insurance, Life Insurance and Other Business. CPI offers RMB life insurance products as well as property and casualty insurance. They also offer foreign-currency property and casualty insurance. The company which was founded in May of 1991, in Shanghai, China also offers management services as well as usage of funds services.
2. Berkshire Hathaway Inc. - MC: $515.460 billion
Berkshire Hathaway is owned by Mr. Warren Buffet. It is a holding company which owns various subsidiary companies throughout several different sectors of business. The primary operations are nationwide insurance business and reinsurance to other countries throughout the world. This company is headquartered in Omaha, Nebraska.
1. HDFC Standard Life Insurance Company Limited - MC: 1.088T
HDFC Life Insurance Co. Ltd. is a provider of insurance services which cover legal protection for properties, healthy, automobiles, education, and retirement. The headquarters are located in Mumbai and they serve clients within the country of India.
Written by Allen Lee
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