Logic Insurance, Biggest Insurance Companies In the World 2015 - Insurance is one of the biggest financial services and the biggest insurance companies in the world are at the top of their game! We all need insurance in some point of our lives.
Insurance, to live a happy and healthy life without worries of the future gnawing at us! And, these companies provide the much-needed assurance of solace from those never-ending worries and stress.
Biggest Insurance Companies In the World
So what is insurance? Simply put, it is the process of transferring risk in exchange for payment. The insurer charges a fee from the insured, who in turn gets compensated for their losses if and when they occur.
And, contrary to popular belief it is definitely not a new concept. It has always been around in some form. However, it is in the modern times that the concept has evolved and diversified and big firms have come into play. Now you can get covers for life risk or accident risk, along with the risk involved in a business that could cause severe implications to your wealth.
To ensure the future prosperity of families, life insurances have become the norm these days. And, companies are coming up with more personalized policies to suit individual needs and preferences. Newlyweds and new house owners, looking to start a family should definitely be surveying the best and the biggest insurance companies in the world and choose suitable policies for themselves and can also take a look at our other list Biggest Construction Companies in the World.
The top insurance companies can be ranked according to a number of factors like market capitalization, revenue, profit, etc. However, our list is based on the total assets they own. Needless to say, most of the companies own assets that run into hundreds of billion dollars and which is why they are the biggest and the most powerful among their counterparts.
Aegon Insurance Companies
Netherland-based, Aegon, deals in life insurance, pensions, and asset management and has a customer base that runs into several million. Total assets under the company were close to $516 billion. The company is primarily listed on the Amsterdam Stock exchange while it has a secondary listing on New York Stock Exchange as well.
Berkshire Hathaway Insurance Companies
The American multinational was catapulted to the big league by none other than Warren Buffet and according to Forbes Global 2000, is the fifth largest company in the world. It delves into services relating to both insurance and reinsurance including life insurance, accident and health reinsurers and casualty reinsurer. It, along with its subsidiaries, maintains high levels of capital strength.
Prudential Plc Insurance Companies
The insurance and financial company headquartered in London, has over 7 million customers in UK alone. However, the company’s largest market lies in Asia with over 13 million customers and is one of the top three insurance providers in HonKong, India, Vietnam, Malaysia, Singapore and Philippines. The company had a market capitalization of £41,630 million in February 2015.
Assicurazioni Generali Insurance Companies
Along with being the largest insurance company in Italy, the Generali Group is also the eighth biggest insurance company in the world by total assets. The company has its operations in Europe, Middle East and East Asia while its US operations are limited to financial offerings only.
Legal and General Insurance Companies
Legal and General offers life insurance, pensions, general insurance and investments. Headquartered in London, it has managed to create a presence in UK, Egypt, France, Germany, India, Netherlands, United States and the Gulf. Total assets under the company were around $622 billion in 2014.
Ping An Insurance Insurance Companies
Chinese player, Ping An Group, deals with insurance, banking and financial services. It delves into life insurance, property and casualty insurance and insurance in overseas holdings through its subsidiaries. Its operations are mainly focused in China, Hong Kong and Macau, however, through its branches and representative agents it caters to more than 150 countries.
Prudential Financial Insurance Companies
The Fortune 500 Company provides products in life insurance, annuities, pensions, mutual funds to individuals as well as institutional customers. Its numerous subsidiaries have operations in US, Europe, Latin America, and Asia and hold more than $2 trillion in life insurance.
Japan Post Insurance Insurance Companies
The privatization of Japan Kampo Life Insurance led to the formation of the company and since then it has been one of the top insurers according to net holdings. The company has assets over $840 billion.
Metlife Insurance Companies
The Metropolitan Life Insurance Company or MetLife has over 90 million customers spread across the 60 countries that it caters to. It also serves 90 of the largest Fortune 500 companies while being the market leader in US, Japan, Latin America, Asia-Pacific, Middle East and Europe.
Allianz Insurance Companies
The German multinational is the largest financial service company based on revenue. It has its customer base spread through 70 countries with over 76 million customers. The main offerings are in the areas of life, health, property and casualty insurance and asset management.
AXA Insurance Companies
The French multinational group has a whopping customer base of 80 million world over and is the leading recognized global insurance brand. It has presence in several countries and its operations are divided into five segments focusing on life insurance, property insurance, casualty and international insurances and asset management each. With the amazing asset base of over $1000 billion, it tops our list of the biggest insurance companies in the world. (Insurance article source: Insidermonkey)
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