Top 10 life insurance companies in the world
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Human life is exposed to many types of risks, risk of accident, disease, natural disaster, fire, life risk. Risks not only hurt and hurt, but they also make us suffer financially. Insurance is the best way to be prepared for the worst situation. It may not help you restore your health or physical condition, but it will take care of the economic part of the pain.
So, here is a list of some of the top 10 insurance companies in the world in 2022. The selection was based on premium collection, revenue generated, profits, market cap, assets, etc.
1. AXA
With a strong customer base of over 102 million people in 56 countries and 157000 1817 employees, AXA is undoubtedly one of the leading insurance companies in the world. The company specializes in property and casualty insurance, life insurance, savings and asset management. The company was founded in XNUMX and is headquartered in Paris. Its presence can now be seen in countries such as Africa, North America, Central and South America, Asia Pacific, Europe and the Middle East.
In 2013, AXA took a historic step by acquiring a 50% stake in Colpatria Seguros in Colombia (Latin America). In the same year, AXA acquired a 50% stake in Tiang Ping, a property and casualty insurance company in China. The company recently acquired non-life insurance operations from HSBC in Mexico. For the fiscal year 2015, the AXA group reportedly generated a total revenue of 99 billion euros.
2. Zurich Insurance Group
Zurich Insurance Group, headquartered in Switzerland, was founded in 1872. The company, with its subsidiaries, currently operates in more than 170 countries, offering insurance and services as its core products. Zurich Insurance Group's main products are general insurance, global life insurance and farmers' insurance. The company currently employs more than 55,000 people serving small, medium and large companies, multinational corporations and individuals. The company's total income for the year was 2015 US dollars.
3. Life insurance in China
It is China's largest public provider of insurance and financial services. The founding of the company can be traced back to 1949, when the People's Insurance Company of China (PICC) was formed. After many corporations and associations, in 1999, what we now know as the China Life Insurance Company emerged. In 2003, the China Life Insurance Company was reorganized into the China Life Insurance Group. The company's main products are life insurance, pension plans, asset management, property and casualty insurance, investment holdings and overseas services.
The company is one of the largest public life insurance companies by market capitalization and is listed on the New York Stock Exchange, the Hong Kong Stock Exchange and the Shanghai Stock Exchange.
4 Berkshire Hathaway
Founded in 1889 with Warren Buffett, Berkshire Hathaway is now a leading investment management company. The company works with the insurance association in other sectors such as rail, finance, energy and services, manufacturing and retail. In addition to primary insurance, the company is also engaged in reinsurance of property risks and risks from accidents. Berkshire Hathaway currently has seven subsidiaries.
5. Prudential plk
Founded in 1848 in the UK, the company is an insurance and financial services company serving more than 24 million customers in Asia, the Americas, the UK and, more recently, Africa. Its main subsidiaries are Prudential Corporation Asia, Prudential UK (for pension and life insurance plans), Jackson National Life Insurance Company (in the US) and M&G Investments. Prudential plc currently holds positions on the world's major stock exchanges such as London, Hong Kong, Singapore and New York. The company, which employs approximately 22,308 people worldwide, has assets worth billions of pounds.
6. Joint Health Group
The Group is one of the leading providers of health insurance services. It has two main business platforms: UnitedHealthcare (works on health benefits) and Optum for healthcare services. In 2015, the company reported revenue of $157.1 billion. The company has also made Fortune's "World's Most Admired Company" list for six consecutive years in the health insurance sector.
7. Munich Re Group
With business spanning 30 countries, the company has been in the insurance sector since 1880. The main countries of the group are Asia and Europe. The group boasts a base of 45,000 employees and its subsidiaries carry out the majority of its insurance operations. Ergo Insurance Group is one of its major subsidiaries offering comprehensive insurance plans. The company offers life reinsurance, health reinsurance, casualty reinsurance, liability, auto insurance, property casualty insurance, marine reinsurance, aviation reinsurance and fire reinsurance. In 2015, Munich Re Group generated a net profit of one billion euros.
8. Spa-salon Assicurazioni Generali
Founded in 1831 in Italy, it is one of the world's leading insurance and financial companies. The company operates in 60 countries and has a presence in the markets of Western, Central and Eastern Europe. With a strong focus on life insurance, the company offers other products such as family insurance, savings and unit linked policies. In its non-life insurance segment, the company offers products such as automobile, home, casualty, medical, commercial and industrial risk insurance. With a huge employee base of 77,000 65 employees and a customer base of 50 million people worldwide, the company is ranked among the 480 largest companies in the world. The total assets under management are estimated at billions of euros.
9. Japan Post Holding Co., Ltd.
One of Japan's largest state-owned companies is one of the largest providers of insurance services. Japan Postal Holding, which became a public company in 2015, generated a consolidated income of about $3.84 billion.
10. CoE Alliance
The company, founded in 1890 in Germany, is a leading financial services provider providing insurance and asset management services. With a broad client base in more than 70 countries and assets of approximately 1.8 billion euros, the company offers property, health and life insurance products for both individual and corporate clients.
Choosing the right insurance plan and company is a very important step and one should never decide on the size of the company alone. Make your own checklist and compare all the plans and policies offered by different companies before choosing one for yourself.
