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February 3, 2023
Insurance

BRK.A, PNGAY, and AXAHY lead the 10 biggest insurance companies list

  • March 11, 2022
  • 8 min read

Insurance companies provide risk management to individuals, businesses, and institutional clients through contracts. Although there is a multitude of different types of insurance companies, the basic principle is that the insurer guarantees payment or reimbursement in the event of losses for the insured. Thanks to pooled risk, insurers historically have been able to offer clients affordable rates in many cases. Insurance companies offer policies offering coverage for losses related to accidents, health, property, homeownership, professional liability, malpractice, and casualty, among other areas.

These are the 10 biggest insurance companies by 12-month trailing revenue. This list is limited to companies that are publicly traded in the U.S. or Canada, either directly or through ADRs. Some companies outside the U.S. report profits semi-annually instead of quarterly, so the 12-month trailing data may be older than it is for companies that report quarterly. Data is courtesy of YCharts.com. All figures as of August 3, 2020.

Some of the stocks below are only traded over-the-counter (OTC) in the U.S., not on exchanges. Trading OTC stocks often carry higher trading costs than trading stocks on exchanges. This can lower or even outweigh potential returns.

#1 Berkshire Hathaway (BRK.A) Insurance

Revenue (TTM): $237.2 billion Net Income (TTM): $10.0 billion Market Cap: $475.7 billion 1-Year Trailing Total Return: -4.9% Exchange: New York Stock Exchange

Berkshire Hathaway Inc. is a major conglomerate and one of the nation’s premier insurance companies, also owning businesses in sectors such as rail transportation, utilities and energy, manufacturing, services, and retailing. Berkshire provides primary insurance, as well as reinsurance of property and casualty risks through companies such as GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, General Re, National Indemnity Company and others. Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop-loss, and homeowners insurance.

#2 Ping An Insurance (Group) Co. of China Ltd. (PNGAY) Insurance

Revenue (TTM): $144.8 billion Net Income (TTM): $18.7 billion Market Cap: $194.0 billion 1-Year Trailing Total Return: -7.5% Exchange: OTC

Ping An Insurance is involved primarily in 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 joint-stock insurance company. Its subsidiaries include Ping An Life, Ping An Property & Casualty, Ping An Annuity, and Ping An Health, among many others. Ping An routinely partners with major insurance companies in the United States as a reinsurer to ensure US companies’ business globally. In this service line, Ping An covers losses occurring in China or on a global basis, including losses in the United States.

#3 AXA SA (AXAHY) Insurance

Revenue (TTM): $139.5 billion Net Income (TTM): $4.3 billion Market Cap: $48.2 billion 1-Year Trailing Total Return: -17.2% 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 does business in all major global markets. The Personal Health plan by Axa includes a number of benefits as standard, with the option to add a further cover to enhance your health insurance policy, including the out-patient cover. Axa’s standard health insurance policy covers Heart and cancer care, including chemotherapy and radiotherapy. … Out-patient surgery.

#4 China Life Insurance Co. Ltd. (LFC) Insurance

Revenue (TTM): $105.6 billion Net Income (TTM): $8.4 billion Market Cap: $64.9 billion 1-Year Trailing Total Return: -6.3% Exchange: New York Stock Exchange

China Life Insurance is one of the mainland’s largest state-owned insurance and financial services companies, as well as a key player in the Chinese capital market as an institutional investor. The company was founded in 1949, the year that the People’s Republic of China was founded. The company today has numerous subsidiaries spread across life insurance, pension plans, asset management, property and casualty, and investment holdings. China Life Insurance Company Limited is a Beijing-based China-incorporated company that provides life insurance and annuity products. China Life is ranked No. 94 on Fortune 2015 Global 500 Company list. China Life, which is 70% state-owned, is the biggest life insurer in China but is coming off a few rocky years.

#5 Allianz SE (ALLIANZ) Insurance

Revenue (TTM): $101.2 billion Net Income (TTM): $8.2 billion Market Cap: $85.9 billion 1-Year Trailing Total Return: -13.4% Exchange: OTC

Allianz is a leading global financial services company, providing products and services from insurance to asset management. It offers insurance products ranging from property and casualty policies to health and life insurance for corporate and individual customers. The company is headquartered in Germany. Allianz is a good company that pays as outlined. Allianz has been good to me for more than 5 years. My money is safe from market losses and I really like the growth, bonuses, and income benefits. I’ve never paid a fee or had an issue with access to my money or information.

Top 50 Insurance Companies

Below are the top 50 insurance companies and best insurance companies in the United States ranked by total assets. Metlife is the largest insurer in the U.S. based on assets and direct premiums written. The company offers a wide array of insurance products and services including life and health insurance, accident insurance, auto insurance, home insurance as well as annuities and retirement and savings products. Prudential, based in Newark, is the second-largest insurance company in America with total assets of $812.6 billion, $3.7 trillion of gross life insurance in force, and more than 49,000 employees.

#6 Prudential PLC (PUK) Insurance

Revenue (TTM): $93.7 billion Net Income (TTM): $0.8 billion Market Cap: $37.8 billion 1-Year Trailing Total Return: -17.2% 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 policies to pensions, equity plans, mortgages, and other financial services. Prudential also caters to customers in all major global markets, including in the U.K., its home market. Prudential has operations in the United States, Asia, Europe, and Latin America and has organized its principal operations into the Financial Services Businesses and the Closed Block Business. Prudential is composed of hundreds of subsidiaries and holds more than $4 trillion of life insurance.

#7 Aviva PLC (AVVIY) Insurance

Revenue (TTM): $90.6 billion Net Income (TTM): $3.3 billion Market Cap: $13.8 billion 1-Year Trailing Total Return: -27.1% Exchange: OTC

U.K.-based Aviva PLC 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 business and General Insurance business are leaders in their home market in the U.K. However, on Aviva’s website there are over 800 reviews rating AvivaPlus at 4.7 out of 5. On Feefo the company as a whole has an average score of 4.6 from more than 2,750 reviews. On Trustpilot, it scores 1.3 out of 10 based on over 850 reviews. What does Aviva Car Insurance cover? Our car insurance covers you against the cost of accidents and damage. You can choose from our comprehensive or third party, fire, and theft insurance.

#8 Assicurazioni Generali (ARZGY) Insurance

Revenue (TTM): $86.9 billion Net Income (TTM): $1.8 billion Market Cap: $24.9 billion 1-Year Trailing Total Return: -12.7% Exchange: OTC

Headquartered in Italy, Assicurazioni Generali is an international insurance provider. The company offers a variety of life, non-life, and reinsurance products. While a large portion of Assicurazioni Generali’s business is in Europe, it has a growing presence in Asia and Latin America. Assicurazioni Generali S.p.A. or simply Generali Group is an Italian insurance company, the largest in Italy and third in the world. It has its headquarters in Trieste. In 2010, the Assicurazioni Generali Group was the second-largest insurance group in the world by revenue after AXA.

#9 Legal & General Group PLC (LGGNY) Insurance

Revenue (TTM): $85.9 billion Net Income (TTM): $2.4 billion Market Cap: $16.8 billion 1-Year Trailing Total Return: -4.0% Exchange: OTC

Legal & General Group is a London-based financial service and the insurance company. With a worldwide customer base, the company provides a range of asset management, retirement, savings, and general insurance products. Legal & General life insurance summary In 2019, Legal & General paid out 97% of life insurance claims and 92% of critical illness claims. Life insurance automatically includes Terminal Illness cover, while Critical Illness cover can be added for an additional cost.

#10 The People’s Insurance Co. (Group) of China Ltd. (PINXY) Insurance

Revenue (TTM): $76.4 billion Net Income (TTM): $3.2 billion Market Cap: $14.7 billion 1-Year Trailing Total Return: -17.7% Exchange: OTC

With the Chinese central government as its controlling 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. The People’s Insurance Company of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder. The group contains the major subsidiaries: PICC Asset Management, PICC Life as well as PICC Property and Casualty.

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