We all have faced many kinds of risks, risk of meeting with a type of accidents, falling sick or being a victim by a natural disaster or because of fire, and other above all risks of life. All these risks do not only come with pain and with suffering but even do hurt financially. Insurance is also one way of being prepared for worst. This offers surety that the economic part on this pain will be taken care off. On this article, we will take a look at some of top insurance companies. There are even many criteria’s on the basis of which there is such a list that can be prepared. Premium collections, the market capitalisation, the revenue or profit, the geographical area, assets and even more. The following list focuses on a number of factors and the top 10 best and largest insurance companies 2019 on it are in no particular order.
10. Allianz SE
Allianz SE was founded in 1890; Allianz SE is a leading financial services company, that provide products and the services from the insurance to this asset management. Allianz caters to the customers for more than these 70 countries with a €1.8 billion in the assets under management. The Insurance products range by the property and the casualty products to the health and to this life insurance product to corporate and for individual customers. This company has headquartered at Germany.
9. Japan Post Holding Co., Ltd.
The Japan Post Holding Co., Ltd. is a major state owned conglomerate on Japan. This company has four different primary divisions: Japan Post Network, Japan Post Service, Japan Post Insurance, Japan Post Bank. Japan Post Insurance which operates within the Japan Post Holding to provide this insurance to the clients. This insurance arm makes use of post offices on nationwide networks, in addition to this its own sales offices, so that to reach out and to provide services to their clients.
8. Assicurazioni Generali group
The Assicurazioni Generali, was founded in 1831, is an Assicurazioni Generali Group parents company. This Generali Group was not only in a market leader at Italy, but this is also counted as the prominent player in this field of financial products and global insurance. This group, with the presence of more than 60 countries, it is an international brand with the dominance at Western, Central and even at Eastern Europe. This offers with a equally diverse range of different products in this non-life segment as well, such as this coverage for the car, accident, home, and health, along with the coverage of this commercial and at industrial risk.
These groups contain 77,000 employees and have a client base of more than 65 million people worldwide.
7. Munich Re Group
Founded during 1880, Munich Re Group that operates in all lines of these insurance and it has a presence in 30 countries, with a focus on this Europe and Asia. Munich Re Group’s home market is in Germany, where the ERGO is the leader for all areas of this insurance. This group’s newest arms, Munich Health, parlay the group risks the management and the insurance that expertise into the health care’s field.
This group has more than 45,000 employees in worldwide, working in all the businesses of these insurance: health reinsurance, life reinsurance, liability business, accident reinsurance, motor reinsurance, marine reinsurance, property-casualty business, fire reinsurance and aviation reinsurance.
6. UnitedHeath Group
This United Health Group Inc. tops the list of these diversified health care businesses across the United States. It’s of two different business platforms, Optum for the health services and UnitedHealthcare for the health benefits – working together, serving more than 86 million peoples at every U.S. state and at other 125 countries. This UnitedHealth Group uses the experience and resources in the clinical care to improve this performance for the health care service sectors.
5. Prudential plc
Prudential plc (PUK), an insurance and the financial services that brand with the operations catering to these 24 million customers across the Asia, the U.S., the U.K and most recently in Africa. Prudential was being founded in the United Kingdom at 1848. Jackson National Life Insurance Company, Prudential Corporation in Asia, Prudential U.K and M&G Investments is the most main businesses within these groups. Jackson was a prominent insurance company in this United States, while the Prudential U.K. one of the most leading providers of pension and in life.
Prudential plc was listed on these stock exchanges at Hong Kong, in London, even at New York and Singapore. There have approximately 22,308 employees in worldwide, with the assets under the management worth of £509 billion.
4. Berkshire Hathaway
Berkshire Hathaway Inc. Was founded at the year 1889 and was associated with this Warren Buffet, who had transformed a mediocre entity into one of the biggest and largest companies in this world. Berkshire Hathaway is now at a leading investment manager conglomerate, engaging in the insurance, among the other sectors such as this rail transportation, the finance, these utilities and the energy, even manufacturing, retailing through the subsidiaries.
3. China Life Insurance (LFC)
China Life Insurance Group Company (LFC) which is one of Mainland in China’s largest state owned insurance and the financial services companies, as well as for a key player in this Chinese capital market as institutional investor. This origin for the company just goes back to 1949 when these People’s Insurance Company of China was formed. The offshoot PICC (Life) Co. Ltd was created after this parting ways with the PICC in 1996. PICC (Life) Co. Ltd was renamed as the China Life Insurance Company in 1999. This China Life Insurance Company was being restructured at the year 2003 as the China Life Insurance Company, which had been to seven subsidiaries. These businesses were spread across the life insurance, investment holdings, property and casualty, asset management, pension plans and even overseas operations.
2. Zurich Insurance Group
The Switzerland headquartered global insurance company that was founded during 1872. This Zurich Group did together with a subsidiary that operates more than 170 countries, that provides insurance products and to the services. This core business of Zurich includes global life, general insurance and farmers insurance. With the employee strength of more than 55,000, Zurich caters to vast insurance which needs of the individuals and the businesses of all the sizes: the small, the mid-sized and even the large-sized companies and even the multinational corporations.
More than 102 million customers at 56 countries an employee base of 157,000, AXA is also one of the world’s lead insurance groups. Main businesses are of property and casualty insurance the life insurance, saving and even asset management. Origin goes back 1817 when the several insurance companies that merged to create a AXA. This company is headquartered at Paris and even has presence across Africa and North America and even Central and South America, Asia Pacific and the Middle East, Europe.
By 2013, AXA was as to move to increase its foothold at Latin America that acquired 51% of these insurance operations of the Colpatria Seguros at Colombia. By the same year, AXA had become the largest international insurer group operating at China as the result of 50% acquisition by Tian Ping :a Chinese property and the casualty insurer. More than that, the company had acquired non-life insurance operations of these HSBC at Mexico.
Thus, these are the top 10 largest insurance companies in 2019. These companies have huge revenue driven by their consumers. They have been increasing their business year by year and this definitely shows the scope of insurance companies in the world.