35 World’s Biggest Insurance Corporation in 2024
35 World’s Biggest Insurance Corporation in 2024
35 World’s Biggest Insurance Corporations
in 2024- According to the Annual Report of each insurance corporation
in 2024, there are 35 World’s Biggest Insurance Corporations in 2024. These corporations
have millions of customers and manage billion US Dollar of direct premiums
written (DPW). Based on financial conditions on the annual report of
2024, these insurance corporations have billions of dollars of total assets and
demonstrated amazing performance with gaining billion US Dollar of net income in 2024.
Maybe Some people know about these insurance corporations
and their insurance products.
Basically, Insurance corporations are corporations that
provide risk coverage services that give compensation for losses or damages due
to an uncertain event. In our unpredictable life, people or corporations can
minimize the financial effects of miscellaneous and unpredictable risk. Without
the help of insurance products, the risk can disturb our activities and
business and exhaust human’s internal finance.
With the role of the insurance corporation,
the enormous potential losses can be minimized so that they can save our
budget. But in our world, there are a million insurance corporations with
different and diverse products. They market insurance products to
people all over the world to help people’s lives. With unique and diversified
products, people have multiple choices in insurance products.
Based on business and finances, of all
insurance corporations from all over the world, there are just a few huge
insurance corporations. To compare all the corporations, the financial
structure and business of corporations can be used to measure the rank of corporations.
Here is the rank of insurance corporations based on the total assets
of corporations and net income (Profit) in Insurance Corporations in 2024. All
the data came from the Annual Report of Corporations in 2024.
The Rank 35 World’s Biggest Insurance Corporations Based on Total Assets in 2024
|
Rank |
Name of Insurance Corporation |
Total Assets in 2024 |
Total Assets in 2024 |
Total Liabilities in 2024 |
Total Liabilities in 2024 |
|
Origin Currency |
US Dollar |
Origin Currency |
US Dollar |
||
|
1 |
Ping An Insurance |
RMB 12,957 billion |
USD 1,813 billion |
RMB 11,653 billion |
USD 1,631 billion |
|
2 |
Allianz Group |
EUR 1,044 billion |
USD 1,158 billion |
EUR 980 billion |
USD 1,087 billion |
|
3 |
China Life insurance |
RMB 6,769 billion |
USD 947 billion |
RMB 6,248 billion |
USD 874 billion |
|
4 |
Legal & General Group plc |
GBP 544 billion |
USD 739 billion |
GBP 540 billion |
USD 734 billion |
|
5 |
Prudential Financial Inc |
USD 735 billion |
USD 735 billion |
USD 707 billion |
USD 707 billion |
|
6 |
AXA S. A |
EUR 654 billion |
USD 725 billion |
EUR 602 billion |
USD 668 billion |
|
7 |
Manulife
Financial Insurance |
CAD 978 billion |
USD 704 billion |
CAD 925 billion |
USD 666 billion |
|
8 |
MetLife Inc |
USD 677 billion |
USD 677 billion |
USD 649 billion |
USD 649 billion |
|
9 |
Nippon Life
Insurance |
JPY 96.3 trillion |
USD 654 billion |
JPY 87.6 trillion |
USD 595 billion |
|
10 |
Assicurazioni
Generali |
EUR 538 billion |
USD 597 billion |
EUR 505 billion |
USD 560 billion |
|
11 |
Great-West
Lifeco |
CAD 802 billion |
USD 577 billion |
CAD 769 billion |
USD 553 billion |
|
12 |
CNP Assurances |
EUR 434 billion |
USD 481 billion |
EUR 413 billion |
USD 458 billion |
|
13 |
Aviva Plc |
GBP 353 billion |
USD 480 billion |
GBP 345 billion |
USD 469 billion |
|
14 |
Credit Agricole
Assurances |
EUR 420 billion |
USD 466 billion |
EUR 410 billion |
USD 455 billion |
|
15 |
Dai-Ichi Life
Holdings |
USD 446 billion |
USD 446 billion |
USD 420 billion |
USD 420 billion |
|
16 |
Japan Post Insurance |
JPY 59.55 trillion |
USD 404 billion |
JPY 56.3 trillion |
USD 382 billion |
|
17 |
Lincoln Financial Group |
USD 390 billion |
USD 390 billion |
USD 382 billion |
USD 382 billion |
|
18 |
JA Kyosai |
USD 384 billion |
USD 384 billion |
USD 351 billion |
USD 351 billion |
|
19 |
Northwestern Mutual |
USD 378 billion |
USD 378 billion |
USD 346 billion |
USD 346 billion |
|
20 |
Zurich Insurance Group |
USD 358 billion |
USD 358 billion |
USD 331 billion |
USD 331 billion |
|
21 |
Meiji Yasuda Life Insurance |
USD 357 billion |
USD 357 billion |
USD 323 billion |
USD 323 billion |
|
22 |
Aegon N. V |
EUR 327 billion |
USD 362 billion |
EUR 318 billion |
USD 352 billion |
|
23 |
Sumitomo Life Insurance |
USD 326 billion |
USD 326 billion |
USD 316 billion |
USD 316 billion |
|
24 |
Nationwide
Mutual Insurance Company |
USD 322 billion |
USD 322 billion |
|
|
|
25 |
Munich RE |
EUR 286 billion |
USD 317 billion |
EUR 253 billion |
USD 280 billion |
|
26 |
UnitedHealth
Group |
USD 298 billion |
USD 298 billion |
USD 195 billion |
USD 195 billion |
|
27 |
Chubb Limited |
USD 246 billion |
USD 246 billion |
USD 178 billion |
USD 178 billion |
|
28 |
New York Life Insurance Company |
USD 244 billion |
USD 244 billion |
USD 218 billion |
USD 218 billion |
|
29 |
State Farm |
USD 239 billion |
USD 239 billion |
|
|
|
30 |
USD 220 billion |
USD 220 billion |
USD 188 billion |
USD 188 billion |
|
|
31 |
Liberty Mutual |
USD 166 billion |
USD 166 billion |
USD 136 billion |
USD 136 billion |
|
32 |
American International Group |
USD 161 billion |
USD 161 billion |
USD 118 billion |
USD 118 billion |
|
33 |
Cigna |
USD 155 billion |
USD 155 billion |
USD 114 billion |
USD 114 billion |
|
34 |
The Travelers Corporations |
USD 133 billion |
USD 133 billion |
USD 105 billion |
USD 105 billion |
|
35 |
Allstate |
USD 111 billion |
USD 111 billion |
USD 90 billion |
USD 90 billion |
|
36 |
Progressive |
USD 106 billion |
USD 106 billion |
USD 80 billion |
USD 80 billion |
|
Source:
Annual Report, 2024 |
|||||
|
Description: |
|||||
|
Origin
Currency: Currency officially used in Annual Report 2024 |
|||||
|
US
Dollar: Converted currency from Origin Currency to US Dollar |
|||||
|
Currency
Rates: |
|||||
|
|
1
Euro = 1.11 US Dollar (USD) |
||||
|
|
1
Pound sterling (GBP) = 1.36 US Dollar (USD) |
||||
|
|
1
Yen (JPY)= 0.0068 US Dollar (USD) |
||||
|
|
1
Renminbi (RMB) = 0.14 US Dollar (USD) |
||||
|
|
1
Canadian Dollar (CAD) = 0.69 US Dollar (USD) |
||||
The corporation above was ranked based
on total assets in 2024. The data can be obtained from the balance sheet of
the Annual Report in 2024. Balance sheet basically measures the assets, liabilities,
and equities of the corporation.
Assets usually in non-current and current assets. Briefly, the total assets of
the corporation showed the property that corporations owned in running the
business. Meanwhile, liabilities are the debt or loan of a corporation that
it must pay back to its creditor.
The Rank 35 World’s Biggest Insurance Corporations Based on Net Income in 2024
|
Rank |
Name of Insurance Corporation |
Total Revenue in 2024 |
Total Revenue in 2024 |
Net Income in 2024 |
Net Income in 2024 |
|
Origin Currency |
US Dollar |
Origin Currency |
US Dollar |
||
|
1 |
Ping An Insurance |
RMB 1,141 billion |
USD 159 billion |
RMB 146 billion |
USD 20.4 billion |
|
2 |
UnitedHealth Group |
USD 400 billion |
USD 400 billion |
USD 15.2 billion |
USD 15.2 billion |
|
3 |
China Life insurance |
RMB 528 billion |
USD 74 billion |
RMB 108 billion |
USD 15 billion |
|
4 |
Allianz Group |
EUR 97.6 billion |
USD 108.3 billion |
EUR 10.5 billion |
USD 11.6 billion |
|
5 |
Chubb Limited |
USD 55.7 billion |
USD 55.7 billion |
USD 9.6 billion |
USD 9.6 billion |
|
6 |
AXA S. A |
EUR 87.3 billion |
USD 97 billion |
EUR 8 billion |
USD 8.8 billion |
|
7 |
Progressive |
USD 75.3 billion |
USD 75.3 billion |
USD 8.4 billion |
USD 8.4 billion |
|
8 |
Munich RE |
EUR 60.8 billion |
USD 67.4 billion |
EUR 5.7 billion |
USD 6.3 billion |
|
9 |
Zurich Insurance Group |
USD 59.5 billion |
USD 59.5 billion |
USD 6.2 billion |
USD 6.2 billion |
|
10 |
The Travelers Corporations |
USD 46.4 billion |
USD 46.4 billion |
USD 4.9 billion |
USD 4.9 billion |
|
11 |
State Farm |
USD 69 billion |
USD 69 billion |
USD 4.86 billion |
USD 4.86 billion |
|
12 |
Allstate |
USD 64.1 billion |
USD 64.1 billion |
USD 4.6 billion |
USD 4.6 billion |
|
13 |
Assicurazioni Generali |
EUR 54.1 billion |
USD 60 billion |
EUR 4.1 billion |
USD 4.5 billion |
|
14 |
Liberty Mutual |
USD 50.2 billion |
USD 50.2 billion |
USD 4.42 billion |
USD 4.42 billion |
|
15 |
MetLife Inc |
USD 70.9 billion |
USD 70.9 billion |
USD 4.4 billion |
USD 4.4 billion |
|
16 |
Manulife Financial Insurance |
CAD 26.5 billion |
USD 19.1 billion |
CAD 5.8 billion |
USD 4.1 billion |
|
17 |
USAA |
USD 48.6 billion |
USD 48.6 billion |
USD 3.8 billion |
USD 3.8 billion |
|
18 |
Cigna |
USD 247 billion |
USD 247 billion |
USD 3.7 billion |
USD 3.7 billion |
|
19 |
Nationwide Mutual Insurance |
USD 68.5 billion |
USD 68.5 billion |
USD 3.2 billion |
USD 3.2 billion |
|
20 |
Lincoln Financial Group |
USD 18.4 billion |
USD 18.4 billion |
USD 3.1 billion |
USD 3.1 billion |
|
21 |
Nippon Life Insurance |
JPY 11 trillion |
USD 74 billion |
JPY 439 billion |
USD 2.98 billion |
|
22 |
Prudential Financial Inc |
USD 70.4 billion |
USD 70.4 billion |
USD 2.8 billion |
USD 2.8 billion |
|
23 |
Great-West Lifeco |
CAD 21.2 billion |
USD 15.2 billion |
CAD 3.9 billion |
USD 2.8 billion |
|
24 |
CNP Assurances |
EUR 11 billion |
USD 12.2 billion |
EUR 1.95 billion |
USD 2.1 billion |
|
25 |
Dai-Ichi Life Holdings |
USD 72.8 billion |
USD 72.8 billion |
USD 2.1 billion |
USD 2.1 billion |
|
26 |
Credit Agricole Assurances |
EUR 14 billion |
USD 15.5 billion |
EUR 1.9 billion |
USD 2.1 billion |
|
27 |
JA Kyosai |
USD 38 billion |
USD 38 billion |
USD 1.8 billion |
USD 1.8 billion |
|
28 |
Meiji Yasuda Life Insurance |
USD 37.5 billion |
USD 37.5 billion |
USD 1 billion |
USD 1 billion |
|
29 |
Aviva Plc |
GBP 20.7 billion |
USD 27.3 billion |
GBP 0.70 billion |
USD 0.95 billion |
|
30 |
Japan Post Insurance |
JPY 6.1 trillion |
USD 41.4 billion |
JPY 123 billion |
USD 0.84 billion |
|
31 |
Aegon N. V |
EUR 9.8 billion |
USD 10.8 billion |
EUR 0.67 billion |
USD 0.74 billion |
|
32 |
Northwestern Mutual |
USD 38.1 billion |
USD 38.1 billion |
USD 0.56 billion |
USD 0.56 billion |
|
33 |
New York Life Insurance Company |
USD 27 billion |
USD 27 billion |
USD 0.470 billion |
USD 0.470 billion |
|
34 |
Sumitomo Life Insurance |
USD 34.6 billion |
USD 34.6 billion |
USD 0.32 billion |
USD 0.32 billion |
|
35 |
Legal & General Group plc |
GBP 10.5 billion |
USD 14.3 billion |
GBP 0.195 billion |
USD 0.27 billion |
|
36 |
American International Group |
USD 27.2 billion |
USD 27.2 billion |
(-USD 0.92 billion) |
(-USD 0.92 billion) |
|
Source:
Annual Report, 2024 |
|||||
|
Description: |
|||||
|
Origin
Currency: Currency officially used in Annual Report 2023 |
|||||
|
US
Dollar: Converted currency from Origin Currency to US Dollar |
|||||
|
Currency
Rates: |
|||||
|
|
1
Euro = 1.11 US Dollar (USD) |
||||
|
|
1
Pound sterling (GBP) = 1.36 US Dollar (USD) |
||||
|
|
1
Yen (JPY)= 0.0068 US Dollar (USD) |
||||
|
|
1
Renminbi (RMB) = 0.14 US Dollar (USD) |
||||
|
|
1
Canadian Dollar (CAD) = 0.69 US Dollar (USD) |
||||
The rank above is based on the income statement of the corporation
in 2024. Income statements basically measure the business performance of a corporation
at a specific time. The corporation that has positive net income showed the corporation
in the right track of its business. Overall, the efficiency and effectiveness
of the corporation in doing business can be measured in the income statements.
Specifically,
besides showing the data about total assets, total liabilities, total revenue,
and net income/loss, we also showed the data about insurance revenue of each
insurance corporation in 2024, and the data of insurance revenue was obtained
from Income Statement in Annual Report 2024.
The Table Rank 30 World’s Largest Insurance Corporations Based on Insurance Revenue in 2024.
|
Rank |
Name of Insurance Corporations |
Insurance Revenue in 2024 |
Insurance Revenue in 2024 |
|
(in Origin Currency) |
(in US Dollar) |
||
|
1 |
UnitedHealth Group |
USD 308 billion |
USD 308 billion |
|
2 |
AXA S.A |
EUR 86 billion |
USD 95.4 billion |
|
3 |
Allianz Group |
EUR 74.6 billion |
USD 82.8 billion |
|
4 |
Ping An Insurance |
RMB 551 billion |
USD 77.1 billion |
|
5 |
Progressive |
USD 70.8 billion |
USD 70.8 billion |
|
6 |
State Farm |
USD 69 billion |
USD 69 billion |
|
7 |
Munich RE |
EUR 60.8 billion |
USD 67.5 billion |
|
8 |
Assicurazioni Generali |
EUR 54.1 billion |
USD 60 billion |
|
9 |
Zurich Insurance Group |
USD 59.5 billion |
USD 59.5 billion |
|
10 |
Allstate |
USD 58.3 billion |
USD 58.3 billion |
|
11 |
Chubb Limited |
USD 49.8 billion |
USD 49.8 billion |
|
12 |
Dai-Ichi Life Holdings |
USD 49.7 billion |
USD 49.7 billion |
|
13 |
Cigna |
USD 45.9 billion |
USD 45.9 billion |
|
14 |
Liberty Mutual |
USD 45.5 billion |
USD 45.5 billion |
|
15 |
Metlife Inc |
USD 44.9 billion |
USD 44.9 billion |
|
16 |
Prudential Financial Inc |
USD 42.8 billion |
USD 42.8 billion |
|
17 |
The Travelers Corporations |
USD 41.9 billion |
USD 41.9 billion |
|
18 |
Japan Post Insurance |
JPY 6.16 trillion |
USD 40.6 billion |
|
19 |
Nippon Life Insurance |
JPY 4.79 trillion |
USD 31.6 billion |
|
20 |
China Life insurance |
RMB 208 billion |
USD 29 billion |
|
21 |
Aviva Plc |
GBP 20.7 billion |
USD 27.7 billion |
|
22 |
JA Kyosai |
USD 27.1 billion |
USD 27.1 billion |
|
23 |
American International Group |
USD 23.5 billion |
USD 23.5 billion |
|
24 |
Northwestern Mutual |
USD 23.3 billion |
USD 23.3 billion |
|
25 |
Meiji Yasuda Life Insurance |
USD 22.8 billion |
USD 22.8 billion |
|
26 |
Sumitomo Life Insurance |
USD 22.5 billion |
USD 22.5 billion |
|
27 |
Manulife Financial Insurance |
CAD 26.5 billion |
USD 18.8 billion |
|
28 |
Credit Agricole Assurances |
EUR 14 billion |
USD 15.5 billion |
|
29 |
Great-West Lifeco |
CAD 21.2 billion |
USD 15 billion |
|
30 |
Legal & General Group plc |
GBP 10.5 billion |
USD 14 billion |
|
31 |
CNP Assurances |
EUR 11 billion |
USD 12.2 billion |
|
32 |
Aegon N.V |
EUR 9.8 billion |
USD 10.8 billion |
|
33 |
Lincoln Financial Group |
USD 6.4 billion |
USD 6.4 billion |
|
Source:
Annual Report, 2024 |
|||
|
Origin
Currency: Currency officially used in Annual Report 2024 |
|||
|
US
Dollar: Converted currency from Origin Currency to US Dollar |
|||
|
Currency
Rates: |
|||
|
1
Euro = 1.11 US Dollar (USD) |
|||
|
1
Poundsterling (GBP) = 1.34 US Dollar (USD) |
|||
|
1
Yen (JPY)= 0.0066 US Dollar (USD) |
|||
|
1
Renminbi (RMB) = 0.14 US Dollar (USD) |
|||
|
1
Canadian Dollar (CAD) = 0.71 US Dollar (USD) |
|||
Commonly, the insurance
revenue on an income statement represents the money an insurance corporation
earns from its insurance contracts, reflecting the services provided rather
than just the premiums received. In the table above explaining the conditions
of insurance revenue of insurance corporations in 2024 obtained from 2024
Annual Report, the data showed that UnitedHealth Group still become the largest insurance corporation based
on insurance revenue with gaining around USD 308 billion of insurance revenue
in 2024. Behind UnitedHealth Group, AXA S.A successfully
collected EUR 86 billion or equivalent to USD 95.4 billion of insurance revenue
in 2024. Meanwhile, Allianz
Group collected insurance
revenue of around EUR 74.6 billion or equivalent to USD 82.8 billion, Ping An
Insurance with RMB 551 billion or equivalent to USD 77.1 billion of insurance
revenue in 2024, and Progressive with USD 70.8 billion of insurance revenue in
2024.
Brief Description of 35 World’s Biggest Insurance Corporations in 2024
1.Ping An Insurance
Historically, Ma Mingzhe found Ping An Insurance in 1988 and
until now, this corporation has its head office in Shenzhen, China.
Overall, Ping An Insurance is one of the three largest integrated financial
groups in China which served over 242 million retail customers as of 2024.
Specifically, in the insurance industry, Ping An has three core businesses,
namely Life & Health, property and casualty insurance, and banking.
Operationally, as of 2024, Ping An Insurance successfully collected life
& health’s written premium of around RMB 629,695 million and Property
and Casualty written premium of around RMB 321,821 million. In
property and casualty insurance, Ping An provides some insurance products
including Auto insurance, Liability insurance, Health insurance, Accidental
injury insurance, Agricultural insurance, and Guarantee insurance.
In terms of financial conditions, as of December 31st,
2024, according to its annual report, Ping An Insurance has total assets RMB 12,957 billion or equivalent to
USD 1,813 billion and total liabilities RMB 11,653 billion or equivalent to USD
1,631 billion. Based on the business performance in 2024, Ping An Insurance gained total revenue around RMB
1,141 billion or equivalent to USD 159 billion and net income around RMB 146
billion or equivalent to USD 20.4 billion.
2.Allianz SE
Historically, Allianz was
founded on 5 February 1890 by Carl von Thieme. Geographically, this
corporation has head office in Munich, Germany. As of 2024, Allianz employed
over 156,000 people worldwide and Allianz Group still
became one of the world's leading insurers and asset managers with 125 million
private and corporate customers in almost 70 countries. Specifically, in
the insurance industry, insurance business activities of Allianz Group are
divided into two categories, namely property-casualty insurance, and life/health
insurance. Related to the Property-Casualty business segment, Allianz
provides motor, accident, property, general liability, pet insurance, travel
insurance, and assistance services. In the business performance relating to
insurance business, total business volume of Allianz consisting of gross
written premiums and fee and commission income in Property-Casualty reached EUR
80,230 million and gross premiums in Life/Health achieved EUR 89,317 million.
Financially, in 2024, according to its annual report, the Allianz Group has total assets around EUR 983 billion or equivalent to USD 1,022 billion and total liabilities around EUR 1,044 billion or equivalent to USD 1,158 billion. Based on the business performance in 2024, the Allianz Group successfully gained total revenue EUR 97.6 billion or equivalent to USD 108.3 billion and net income around EUR 10.5 billion or equivalent to USD 11.6 billion.
3.AXA S.A.
AXA S.A. is
France-based insurance corporation that was founded in 1816 by Claude
Bébéar. This corporation has a long journey in the
financial industry especially in the Insurance sector. Along
with business development, Axa has grown in over 50 countries with a total of
154,000 employees and serving around 95 million clients across the nations.
Specifically, Axa has three major business lines, namely property-casualty
insurance, life & savings insurance, and asset management. In the insurance
business operation, as of 2024, Axa successfully collected Gross
Premium Written of Property & Casualty reaching EUR
56,514 million and Gross Written Premiums of Life & Health reaching
EUR 51,983 million. In the insurance industry, AXA S.A. offers a
broad range of products including Motor, Household, Property, and general
liability insurance across the nations.
In 2024, financially, based on its
published annual report, the Axa S.A. has total assets around EUR 654 billion
or equivalent to USD 725 billion and total liabilities around EUR 592 billion
or equivalent to USD 615 billion. Based on the business performance in 2024,
the corporation gained total revenue of EUR 87.3 billion or equivalent to USD
97 billion and net income around EUR 8 billion or equivalent to USD 8.8
billion.
4.Nippon Life Insurance
Nippon Life Insurance Corporation
or Nihon Seimei Hoken Sōgo-geisha, simply known as
Nissay was founded on July 4, 1889. To date, the corporation has head office
Imabashi Sanchōme, Chūō-ku, Osaka, Japan. Employed with 68,072 people as of
2024, Nippon Life can serve 15 million Clients and successfully collected JPY
4,756 billion of Annualized Premiums and pay for Insurance Claims, Annuities
and Benefits reached JPY 2,680 billion. In terms of insurance business, Nippon
Life operates life insurance business
in some countries including Japan, including the U.S.A, Australia, India,
Myanmar, China, Thailand, and Indonesia.
Financially, along with the development of the corporation, according to its
annual report in 2024, the Nippon Life Insurance Corporation has total assets
JPY 96.3 trillion or equivalent to USD 654 billion and total liabilities around
JPY 87.6 trillion or equivalent to USD 595 billion. Based on the business
performance in 2024, the Nippon Life Insurance Corporation successfully gained total
revenue around JPY 11 trillion or equivalent to USD 74 billion and net income
around JPY 439 billion or equivalent to USD 2.98 billion.
5.Metlife Inc
MetLife Inc is
one of the oldest and the biggest insurance corporations in the world.
Historically, the corporation was founded on March 24, 1868. Geographically,
the corporation has head office in the MetLife Building, New York City,
USA.
With 153 years of
experience and presence in 40 markets globally, MetLife has still become one of
the world’s leading financial services corporations, providing insurance,
annuities, employee benefits, and asset management. As of 2024, MetLife
successfully collected a direct premium of USD 45,153 million.
Furthermore, In the United States of America (USA), The MetLife corporations
offer some insurance products, namely life insurance, annuities, auto and home
insurance and other financial services to individuals. Financially, according
to its annual report in 2024, MetLife Inc has total assets around USD 677
billion and total liabilities around USD 649 billion. Based on its business
performance in 2024, MetLife Inc earned total revenue reaching USD 70.9 billion
and net income around USD 4.4 billion.
6. Manulife Financial Corporation
Historically, Manulife Financial Corporation was founded on June 23, 1887, and still has head office in Toronto, Ontario, Canada. Along with business development, Manulife has grown into one of the largest insurance corporations which has 37,000 employees globally and more than 109,000 agents worldwide. With these conditions, Manulife has served more than 36 million customers worldwide and successfully collected Annualized premium equivalent (“APE”) around USD 8.4 billion in 2024. Specifically, in the insurance industry, Manulife Financial offers a range of insurance products including Health insurance (Health & dental insurance, Disability insurance, Critical illness insurance), Life insurance (Term life insurance, Guaranteed issue life insurance, Permanent life insurance), and travel insurance.
Financially, in 2024, according to its
annual report, the Manulife Financial Corporation has total
assets around CAD 978 billion or equivalent to USD 704 billion and
total liabilities around CAD 925 billion or equivalent to USD 666 billion.
Based on the business performance in 2024, the Manulife Financial Corporation
successfully earned total revenue around CAD 26.5 billion or equivalent to USD
19.1 billion and net income around CAD 5.8 billion or equivalent to USD 4.1
billion.
7.China Life insurance
China Life insurance is
another biggest insurance corporation from China. Historically, China life
insurance was founded in 1949 and still has head office in Beijing, China.
Along with Business development, China Life has more than 20,000 branches and
outlets, employing 900,000 employees and sales staff, as well as more
than 5,000 service counters. Globally, China Life also has branches and
representative offices in Hong Kong, China, Macau, China, Singapore, Indonesia,
London, UK, and New York, USA, providing financial insurance services to more
than 800 million customers. In the insurance industry, the gross written
premiums of China Life were around RMB 671,457 million in 2024.
Financially, based on the annual
report in 2024, the China Life insurance has total assets around
RMB 6,769 billion or equivalent to USD 947 billion and total liabilities
around RMB 6,248 billion or equivalent to USD 874 billion. Based on the business
performance of the corporation, China Life Insurance collected total revenue of
RMB 528 billion or equivalent to USD 74 billion with net income around RMB 108
billion or equivalent to USD 15 billion.
8.Legal & General Group
Legal & General Group plc,
commonly known as Legal & General, is a British multinational insurance corporation
headquartered in London, England. Established in 1836, Legal & General
Group is a leading financial services group and insurance serves over 10
million people with total employees around 10,799. In terms of insurance
business performance, in 2023, Legal & General successfully collected Gross
Written Premiums of GBP 1,991 million in the United Kingdom.
Meanwhile, in the United States of America (USA), Legal & General
collected Gross Written Premiums of USD 1,584 million.
Financially, in 2024, the Legal &
General Group has total assets around GBP 544 billion or equivalent to USD 739
billion with liabilities around GBP 540 billion or equivalent to USD 734
billion. Based on the business performance in 2024, the Legal & General
Group can gain total revenue around GBP 10.5 billion or equivalent to USD 14.3
billion with net income around GBP 0.195 billion or equivalent to USD 0.27
billion.
9.American International Group
American International Group, Inc.,
also known as AIG, is an American multinational insurance corporation.
Historically, Cornelius Vander Starr founded this corporation on December 19,
1919. Along with business development, AIG has provided insurance solutions
that help businesses and individuals in approximately 200 countries. In General
Insurance, AIG gained net premiums written of around USD 23.9 billion. In the
labor force aspects, AIG had approximately 22,200 employees based in
approximately 46 countries as of December 2024. Commonly, AIG International
offers General Insurance which is managed by its subsidiary corporations
including National Union Fire Insurance Corporation, American Home
Assurance Company, Lexington Insurance Company, AIG General Insurance Company,
Ltd., AIG Asia Pacific Insurance, Pte, Ltd., AIG Europe S.A., American
International Group UK Ltd., Talbot Underwriting Ltd., Western World Insurance
Company and Glatfelter Insurance Group (Glatfelter).
In 2024, based on the financial
structure on the balance sheet in the annual report of
2024, AIG International has total assets around USD 161 billion with total
liabilities around USD 118 billion. Based on the business performance in 2024,
AIG International successfully earned total revenue around USD 27.2 billion but
unfortunately suffered net loss around USD - 0.92 billion.
10.Assicurazioni Generali
Assicurazioni Generali S.p.A. or
simply known as Generali Group is based in Trieste, Italy. Established in
1831, Generali has grown into one of the leadings in the insurance industry,
which has presence in over 50 countries in the world, with almost 87
thousand employees and 165 thousand agents, serving 71 million customers.
Furthermore, in Insurance industries, Generali successfully collected
gross premiums written to reach EUR 95,190 million in the year of
2024. Specifically, in the property & casualty (P&C) insurance
industry, Generali successfully gained gross written premiums around EUR 33,756
million. Commonly, Generali offer some insurance products including Life
insurance, Property and Casualty insurance, Insurance for Corporations, and
Insurance solutions with ESG components.
Financially, according to its annual
report in 2024, Assicurazioni Generali has total
assets EUR 538 billion or equivalent to USD 597 billion and total liabilities
around EUR 505 billion or equivalent to USD 560 billion. Based on the business
performance in 2024, the corporation can get total revenue around EUR 54.1
billion or equivalent to USD 60 billion and net income around EUR 4.1 billion
or equivalent to USD 4.5 billion.
11.CNP Assurances
Caisse Nationale de Prévoyance
Assurances or commonly known as CNP Assurances is a
French corporation engaged in the financial sector. This corporation was
founded in 1959 and has many branches in some countries. As of
2024, CNP Assurances has 8,479 employees worldwide and served more than 36
million people. In terms of operational aspects, CNP successfully gained
premium income reaching EUR 36.2 billion.
Financially, in 2024, according to the
balance sheet of the annual report in 2024, CNP Assurances has total assets
around EUR
434 billion or equivalent to USD 481 billion with total liabilities around EUR
413 billion or equivalent to USD 458 billion. Based on the business performance
in 2024, CNP Assurances successfully collected total revenue
around EUR 11 billion or equivalent to USD 12.2 billion with net income around
EUR 1.95 billion or equivalent to USD 2.1 billion.
12.Japan Post Insurance
Japan Post Insurance Co., Ltd. or in
Japanese known as Kabushiki-gaisha Kanpo Seimei Hoken is a Japanese insurance corporation
that was founded on October 1, 2007, and became the subsidiary corporation
of Japan Post Group. Geographically, this corporation has a
head office in Tokyo, Japan. As of 2024, Japan Post Insurance has employed
17,952 people and this corporation successfully gained Insurance premiums
income reaching JPY 2,484 billion in 2024.
In terms of the financial structure,
according to the annual report, the Japan Post Insurance has total
assets around JPY 59.5 trillion or equivalent to USD 404 billion with total
liabilities around JPY 56.3 trillion or equivalent to USD 382 billion. Based on
the business performance in 2024, the Japan Post Insurance
earned total revenue around JPY 6.1 trillion or equivalent to USD 41.4
billion and net Income around JPY 123 billion or equivalent to USD 0.84
billion.
13.Aegon N.V.
Aegon N.V. is a Dutch multinational corporation
headquartered in The Hague, Netherlands. Historically, it was founded in 1983.
As of 2024, Aegon has served 24.4 million customers globally.
In 2024, based on the financial structure of the corporation,
Aegon has total assets around EUR 327 billion or equivalent to USD 362 billion
with total liabilities around EUR 318 billion or equivalent to USD 352 billion.
Based on the business performance in 2024, Aegon N.V. got total
revenue around EUR 9.8 billion or equivalent to USD 10.8 billion and
successfully gained net income around EUR 0.67 billion or equivalent to USD
0.74 billion.
14.Zurich Insurance Group
Zurich Insurance Group Ltd is
a Swiss insurance corporation that has its head office in Zürich.
Historically, this corporation was founded in 1872. As of 2024, Zurich is one
of the leading multi-line insurers serving people and businesses which exist in
more than 200 countries and territories and has employed about 63,000 people
serving more than 75 million people worldwide.
In the insurance industry, Zurich offers many Property
& Casualty (P&C) and life insurance products. Furthermore,
Zurich Insurance also owned Farmers Insurance, one of the biggest
insurance corporations popular in the USA, which was acquired in
1998. Specifically, in 2024, Zurich insurance gained revenues in its line
business, namely Property & Casualty gaining operating profit reaching USD
4.2 billion and Life business gaining USD 2.2 billion.
Financially, based on the financial
conditions on the Balance sheet in 2024, Zurich Insurance
has total assets around USD 358 billion with total liabilities around USD 331
billion. Based on the business performance in 2024, Zurich Insurance
successfully earned total revenue of USD 59.5 billion and net income
around USD 6.2 billion.
15.New York Insurance Company
New York Life Insurance Company is one of the
largest insurance corporations in the United States. As of 2024, New York Life
has some insurance products, namely Term life insurance, Whole life insurance,
Universal life insurance, Variable Universal Life Insurance, Long-term care
insurance, Individual disability insurance. Operationally, this corporation has
12,000-plus agents and advisors to serve its customers.
In terms of financial conditions
according to the Balance sheet, the New York Insurance corporation
has total assets around USD 244 billion with total liabilities around USD 218
billion. Based on the business performance in 2024, the New York Insurance
gained total revenue of USD 27 billion with net income around USD
0.47 billion.
16.Meiji Yasuda Life Insurance
Meiji Yasuda Life
Insurance Company is a Japanese insurance company,
headquartered in Tokyo and formed in 2004 with the merger between Meiji Life
and Yasuda Life. Operationally, Meiji Yasuda employed 47,787 people as of 2024
and successfully collected Insurance Premiums of JPY 2,766 billion from April
2024 until March 2025. Furthermore, the number of Policyholder Meiji Yasuda
reached 6,065,718 people.
Financially, according to the balance sheet in 2024, the corporation
has total assets around USD 357 billion with total liabilities around USD 323
billion. Based on the business performance in 2024, the company will
get total revenue around USD 37.5 billion with net income around USD 1
billion.
17.Aviva Plc
Aviva plc is a British multinational insurance corporation headquartered in London, England. Historically, this corporation started the business in 2000. As of 2024, Aviva is the United Kingdom’s leading diversified insurer across Insurance, Wealth and Retirement serving 20.5 million customers in the UK, Ireland, and Canada. Operationally, in 2024, Aviva successfully collected general insurance gross written premiums reaching GBP 12.2 billion. Commonly, Aviva basically has a strong position in the United Kingdom, Canada, and Ireland.
Financially, according to the balance
sheet 2024, Aviva has total assets around GBP 353 billion or equivalent to USD
480 billion with total liabilities around GBP 345 billion or equivalent to USD
469 billion. Based on the business performance in 2024, Aviva earned total
revenue around GBP 20.7 billion or equivalent to USD 27.3 billion with net
income around GBP 0.70 billion or equivalent to USD 0.95 billion.
18.Dai-Ichi Life Holdings
The Dai-ichi Life Insurance
Company, Limited or Dai-ichi Seimei Hoken Kabushiki-kaisha (Japanese
language) is one of the biggest insurance corporations from Japan. It was
founded on September 15, 1902, by Tsuneta Yano. As of 2024, Daichi
presenting in 10 counties has served 13.8 million customers in Japan.
Furthermore, this corporation also has 59,495 people.
Financially, according to the balance
sheet in the annual report, Dai-ichi Life has total assets around USD
446 billion with total liabilities around USD 420 billion. Based on the
business performance in 2024, Dai-ichi Life collected total revenue around USD
72 billion with net income around USD 2.1 billion.
19.Sumitomo Life Insurance
Sumitomo Life Insurance Company or in
Japanese known as Sumitomo Seimei Hoken Sōgo-geisha, Sumisei is a mutual
life insurance corporation that was founded in 1907 and has head office in
Osaka. As of 2024, Sumitomo employed around 42,511 people and served more than
5 million customers. Furthermore, The Policies in Force of Sumitomo life in
2024 consist of Individual life insurance of around JPY 47.9 trillion,
Individual annuities of around JPY 14.2 trillion, Group insurance of around JPY
33.3 trillion and Group annuities of around JPY 2.7 trillion.
Financially, according to the balance sheet in 2024, the corporation
has total assets around USD 326 billion with total liabilities around USD 316
billion. Based on the business performance in 2024, the corporation has total
revenue around USD 34.6 billion with net income around USD 0.32 billion.
20.Prudential Financial Inc
Prudential Financial or formerly known
as “Friendly Assurance Company” was founded in New Jersey in 1875
by John Dryden. The corporation still has head offices in Newark, New Jersey,
USA. Along with business development from time to time,
Prudential has more than 40 thousand Employees & sales associates
worldwide serving 50 million customers in over 50 countries. Commonly, Prudential
provides some life insurance (Term life insurance, Universal life insurance,
Indexed variable universal life insurance and Permanent life insurance).
Financially, according to the
financial conditions in 2024, Prudential Financial has total assets around USD
735 billion with total liabilities of USD 707 billion. Based on the
business performance in 2024, the Prudential Financial successfully earned
total revenue of USD 70.4 billion and successfully gained net income
of USD 2.8 billion.
21. Great-West Lifeco
Great-West Lifeco
is an international financial holding corporation specializing in life
insurance, health insurance, retirement and investment services, asset
management, and reinsurance businesses. Operationally, Great-West Lifeco has
operated in Canada, the United States and Europe under the brands Canada Life,
Empower, and Irish Life. As of 2024, our corporations had over 32,250
employees, 106,000 advisor relationships, and thousands of distribution
partners who serve more than 40 million customers globally. Commonly,
in running its insurance business, Great-West Lifeco Inc. has operations in
Canada, the U.S. and Europe through the subsidiary corporation including The
Canada Life Assurance Corporation (Canada Life), Empower Annuity Insurance Corporation
of America (Empower, formerly known as Great-West Life & Annuity Insurance Corporation),
and Irish Life Group Limited (Irish Life).
Financially, in
2024, Great-West Lifeco has total assets of around CAD 802 billion
or equivalent to USD 577 billion with total liabilities of around CAD 769
billion or equivalent to USD 535 billion. In terms of business performance in
2024, the Great-West Lifeco successfully gained total revenue of CAD 21.2
billion or equivalent to USD 15.2 billion with net income reaching CAD 3.9
billion or equivalent to USD 2.8 billion.
22. JA Kyosai
JA Kyosai was initiated in 1948 as an
agricultural cooperative insurance business and as of 2023, the members and
policyholders of JA Kyosai have grown into several insurance products. In
comprehensive life Insurance, policy holders reached 21.3 million policies.
Furthermore, in Building Endowment Insurance, the policy holder reached 8.9
million. In addition, the policyholder of Automobile Insurance
reached 8.1 million. In the life insurance business, JA Kyosai
provides some life insurance products including Whole Life Insurance, Term Life
Insurance, Endowment Life Insurance, Children’s Insurance, Medical Insurance,
Nursing Care Insurance, Dementia Insurance, and Annuity Insurance.
Financially, according to the Annual
Report of 2024, JA Kyosai has total assets of around USD 384 billion
with total liabilities of around USD 351 billion. In terms of business
performance, JA Kyosai successfully generated total revenue of USD 38
billion and net income of USD 1.8 billion.
23. Crédit Agricole Assurances
Crédit Agricole Assurances was founded
May 21, 2008, and is still a subsidiary division of Crédit Agricole.
To date, Crédit Agricole Assurances has 6,700 employees in France and abroad.
As of 30 June 2024, Crédit Agricole Assurances' activities were organized into
some operating segments, namely Life insurance, Property and casualty
insurance, and international insurance. Operationally, as of 2024,
total Gross Written Premiums of Crédit Agricole Assurances from all insurance
products around EUR 43.6 billion. Specifically, Crédit Agricole Assurances’
gross written premiums from the savings/retirement business during
the year of 2024 amounted to EUR 32.1 billion, followed by gross
written premiums from Property & Casualty reached EUR 6.2
billion, gross written premiums from Death & Disability/ Creditor/
Group insurance reached EUR 5.3 billion.
In the financial aspects, according
to Crédit Agricole Assurances in 2024, total assets of Credit
Agricole Assurances reached EUR 420 billion or equivalent to USD
466 billion with total liabilities of EUR 410 billion or equivalent to USD 455
billion. In terms of business performance in 2024, Crédit Agricole
Assurances earned total revenue of EUR 14 billion or equivalent to USD
15.5 billion and successfully gained net income of EUR 1.9 billion or
equivalent to USD 2.1 billion.
24. Munich RE
Munich RE was founded 3 April 1880 and
still has its headquarters in Munich, Germany employing around 43,583
people. Munich Re's business line consists of Munich Reinsurance
Company and ERGO. Specifically, Munich Reinsurance provides reinsurance
cover for life, health, property, casualty, transport, aviation, space, fire,
and engineering business. In the 2024 fiscal year, Munich Reinsurance Company’s
gross premium income totaled EUR 33,384 million. Specifically, in property-casualty
reinsurance, gross premium income of Munich Re reached EUR 23,858 million.
Meanwhile, gross premium volume in life and health reinsurance of
Munich Re reached EUR 9,526 million. Meanwhile, ERGO managed some
insurance products, namely life, health and property-casualty insurance which
is present in more than 30 countries around the world and serves around 35
million clients.
Financially, in the year of 2024,
Munich RE still has total assets of EUR 286 billion or
equivalent to USD 317 billion with total liabilities of EUR 253 billion or
equivalent to USD 280 billion. In terms of business performance, the total
revenue of Munich RE reached EUR 60.8 billion or equivalent to USD 67 billion
with net income of EUR 5.7 billion or equivalent to USD 6.3 billion.
25. UnitedHealth Group
UnitedHealth Group is a health care
and well-being company with team members in two distinct and complementary
businesses, namely Optum (provides technology services,
pharmacy care services) and UnitedHealthcare (insurance and
managed care corporation with four main segments, namely UnitedHealthcare
Employer and Individual, UnitedHealthcare Medicare and Retirement,
UnitedHealthcare Community and State, and UnitedHealthcare Global).
UnitedHealth Group with governments, employers, partners, and providers served
148 million people. Since its foundation by Richard T. Burke in 1972,
UnitedHealth Group has had a central office in Minnetonka, Minnesota
and has grown with a labor force reaching 440,000 people.
Financially, in 2024, according to its
annual report, UnitedHealth Group showed a strong financial position, with
total assets amounting to USD 298 billion and total liabilities reaching USD
195 billion. Furthermore, the UnitedHealth Group also generated substantial
revenue, with total revenue standing at USD 400 billion. After accounting for
expenses and claims, the UnitedHealth Group reported gaining a net income of
USD 15 billion.
27. United Services Automobile Association (USAA)
United Services Automobile Association
(USAA) is an American financial services corporation providing insurance and
banking products to members of the military, veterans, and their families.
Historically, it was founded in 1922 at San Antonio, Texas. To date, USAA has
more than 38,000 employees serving more than 14 million members. United Services
Automobile Association (USAA) has some insurance products consisting of Vehicle Insurance (Auto,
Motorcycle, ATV, RV and Motorhome, Boat, Bicycle and E-Bike, Classic and
Collector Car, Aviation), Property Insurance (Renters,
Homeowners, Condo, Landlord, Valuable Personal Property, Flood, Mobile Home,
Collectibles, and Cell Phone Protection), Life Insurance (Long-Term
Care, Umbrella Insurance, Health Insurance, Medicare Plans, Individual and
Family Plans, Dental, Vision, Supplemental Health Gap), Business
Insurance (Commercial General Liability, Business Owners Policy,
Commercial Auto).
Financially, in 2024, The United
Services Automobile Association (USAA) showed a solid financial position, with
total assets reaching USD 220 billion and total liabilities of USD 188
billion. Meanwhile, in terms of business performance, the USAA also
successfully generated total revenue of USD 48.6 billion. Additionally, USAA
achieved a net income of USD 4.8 billion.
28. Liberty Mutual
Founded on July 1, 1912, Liberty
Mutual has grown into one of the largest insurance corporations which offers
many insurance products and services, including personal automobiles,
homeowners, workers' compensation, and others. To date, Liberty Mutual has
existed in more than 29 Countries and employed more than 40,000 worldwide. In
terms of operational performance, Liberty Mutual has successfully generated
Premiums earned reaching USD 45,515 million in 2024. Commonly, in the
insurance industry, Liberty Mutual offers some personal insurance products
including Auto insurance, home insurance, Condo insurance, Renters
insurance, Pet insurance, Motorcycle insurance, Life insurance, and
others.
Financially, in 2024 according to its
annual report, The Liberty Mutual maintained a solid financial
foundation, with total assets valued at USD 166 billion and total liabilities
standing at USD 136 billion. The corporation reported total revenue of USD 50.2
billion, highlighting its strong market performance and ability to generate
significant income. Despite a competitive landscape, it achieved a net income
of USD 4.42 billion,
29. Progressive Insurance
Progressive is a leading insurance corporation
specializing in auto insurance, founded in 1937 by Joseph Lewis and Jack Green.
To date, headquartered in Mayfield, Ohio, U.S., Progressive has served more
than 37 million customers with employees of 61,400 people.
Operationally, in 2024, progressive insurance successfully collected net
premiums written from personal lines reaching USD 63,470
million and commercial lines reaching USD 10,953 million.
According to its annual report
in 2024, the financial condition of Progressive remained stable with total
assets standing at USD 106 billion, and total liabilities amounted to USD 80
billion. Furthermore, in terms of business performance, Progressive
successfully generated total revenue of USD 75.3 billion.
After deducting from all cost and interest rates, Progressive
insurance successfully earned a net income of USD 8.4 billion.
30. The Travelers Corporations
The Travelers Corporations, Inc.,
commonly known as Travelers, is an American insurance corporation which
provides commercial and private property and casualty insurance products to its
customers. To Date, The Travelers has more than 30,000 employees and 15,000
independent agents and brokers spreading over the United States, Canada, the
United Kingdom, and Ireland. Operationally, in the year 2024, The
Travelers successfully earned premiums reaching USD 41,941 million.
Commonly, in business insurance, Travelers insurance some insurance
products including Workers’ Compensation insurance, Commercial Automobile
insurance, Commercial Property insurance, General Liability insurance, and
Commercial Multi-Peril insurance.
Financially, in the year 2024,
according to its annual report, The Travelers Corporations exhibit a robust
financial profile, with total assets reaching USD 133 billion and total
liabilities recorded at USD 105 billion. In addition, related to business
performance, the Travelers Corporations generated total revenue of USD 46.4
billion, and a net income of USD 4.9 billion.
31. Cigna
The Cigna Group was founded in 1982.
To Date, The Cigna's global workforce reached 73,500 which can serve
182 million customers globally in more than 30 countries. Operationally, Cigna
group has two growth platforms, namely Evernorth Health Services and Cigna
Healthcare. In the year 2024, Cigna Group successfully collected premiums
around USD 45,996 million.
Financially, according to the annual
report in 2024, the financial performance of Cigna reflected a stable and
well-managed fiscal structure. Total assets were recorded at USD 155 billion,
while total liabilities reached USD 114 billion. In terms of business
performance, The Cigna reported total revenue of USD 247 billion. After
deducting operational expenses, interest rates and other expenses, Cigna earned
a net income of USD 3.7 billion.
32. Nationwide Mutual Insurance Company
Nationwide Mutual Insurance Company
insurance and financial services corporations based in Columbus, Ohio, United
States of America (USA) founded on April 14, 1926. To Date, Nationwide has
around 25,000 employees. Financially, in 2024, the financial position of
Nationwide Mutual Insurance Corporation demonstrated stability and resilience.
Total assets amounted to USD 322 billion. Furthermore, The Nationwide Mutual
Insurance Corporation successfully generated total revenue of USD 68.5 billion
and a net income of USD 3.2 billion.
33. Allstate
The Allstate
Corporation was founded on April 17, 1931, and the headquarters
of Allstate located in Northbrook, Illinois, U.S.A. As of 2024, The
Allstate Corporation has 55,000 employees, 27,700 exclusive agents and agent
support staff, and 55,000 independent agents. Commonly, Allstate offers a wide
range of protection for autos, homes, individual property, and identities.
Furthermore, Allstate has 208 million policies in force in 2024. Specifically,
in the year 2024, Allstate successfully collected Property and casualty
insurance premiums reaching USD 56,388 million and Accident and
health insurance premiums and contract charges achieving USD 1,921 million.
Financially, in 2024, according to its
annual report, total assets of Allstate reached USD 111 billion, while total
liabilities reached USD 90 billion. Meanwhile, related to business
performance in 2024, Allstate successfully gained total revenue of USD 64.1
billion and successfully gained a net income of USD 4.6 billion.
34. Lincoln National Corporation
Lincoln National Corporation is
an insurance and Asset management corporation founded in 1905 by Perry
Randall. The Number of employees of Lincoln is around 11,000 people. Commonly,
some insurance products offered by Lincoln National are Absence Management,
Life Insurance, Accident, Critical Illness and Hospital Indemnity Insurance,
Dental and Vision.
Financially, in 2024, Lincoln National
Corporation has total assets amounting to USD 390 billion and total liabilities
reaching USD 382 billion. In terms of business performance in 2024, The Lincoln
National Corporation reported total revenue of USD 18.4 billion and net income
of around USD 3.1 billion.
35. Chubb Limited
Chubb Limited is the
Swiss-incorporated insurance and financial corporation headquartered in Zurich,
Switzerland. Historically, Chubb was incorporated in 1985. With operations in
54 countries and territories, Chubb provides commercial and consumer P&C
insurance, Accident and Health (A&H), reinsurance, and life insurance to a
diverse customer. In the year of 2024, Chubb Limited successfully gained Net
premiums written of around USD 51,468 million and net premiums earned USD
49,846 million.
Financially in 2024, according to its annual report, Chubb
Limited has total assets of around USD 246 billion with total liabilities of
around USD 178 billion. Related to business performance in 2024, Chubb Limited
has total revenue of around USD 55.7 billion and net income of around USD 9.6
billion.
36. State Farm
Founded in June 1922 by retired farmer
George J. Mecherle, State has grown which has 19,000 agents, 343 claim offices
and 30 operations centers and still has headquarters in Bloomington, Illinois,
U.S.A. As of 2023, total employees of State farm reached 65,000. As
one of the largest property, casualty, and auto
insurance providers in the United States in the year of 2024, State
Farm successfully gained Premium Earned reaching USD 69,038 million. Commonly,
State Farm offers some insurance products including Auto & Home
Insurance (Car Insurance, Home Insurance, Renters Insurance, Condo
Insurance, Boat Insurance, Motorhome Insurance, Motorcycle Insurance) and Life
& Health Insurance (Life Insurance, Medicare Supplement Insurance,
Supplemental Health Insurance, Disability Insurance, Pet Medical Insurance).
Financially, in the year
2024, according to its annual report, State Farm as insurance corporation
has total assets of around USD 239 billion in the year 2024. In terms of
business performance in 2024, State Farm successfully gained total
revenue of around USD 69 billion and net income of around USD 4.86 billion.
The Summary of 15 World’s Biggest Insurance Corporations in 2024 Based on Total Assets
The Summary of 15 World’s Biggest Insurance Corporations in 2024 Based on Net Income
The Rank of 10 World’s Largest Insurance Corporations in 2024 Based on Insurance Revenue
Bibliography 35 World’s Biggest Insurance Corporations in 2024
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Accessed via https://investors.thecignagroup.com/financials/annual-reports/default.aspx on
August 25th, 2025.
Nationwide Mutual Insurance Company.
2025. Annual Report 2024. Accessed via https://www.nationwide.com/cps/annual-report/index.html on
August 25th, 2025.
Allstate. 2025. Annual Report 2024.
Accessed via https://www.allstateinvestors.com/?adobe_mc=MCMID%3D60063079932367550081322681049388141846%7CMCORGID%3D97021C8B53295DF30A490D4D%2540AdobeOrg%7CTS%3D1738393448 on August
25th, 2025.
Munich RE. 2025. Annual Report 2024.
Accessed via https://www.munichre.com/en/company/investors.html on
August 25th, 2025.
UnitedHealth Group. 2025. Annual
Report 2024. Accessed via https://www.unitedhealthgroup.com/ on
August 25th, 2025.
JA Kyosai. 2025. Annual Report 2024.
Accessed via https://www.ja-kyosai.or.jp/about/annual_report/ on
August 25th, 2025.
Crédit Agricole Assurances. 2025.
Annual Report 2024. Accessed via https://www.ca-assurances.com/en/investors/ on
August 25th, 2025.
Chubb Limited. 2025. Annual Report
2024. accessed via https://investors.chubb.com/financials/annual-reports/default.aspx on
August 30th, 2025
State Farm. 2025. Annual Report 2024.
accessed via About Us - State Farm® on August
30th, 2025.









































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