[Ranking] TOP 25 Life & Health Insurance / Finance Companies Q3/2023

Intro

Life & Health Insurance is a critical component of the finance industry, providing individuals and businesses with protection and security in the event of unexpected events.

With its profound influence, the Life & Health Insurance industry has far-reaching effects across diverse sectors, including healthcare, retirement planning, and risk management.

The economic magnitude of the Life & Health Insurance industry is substantial and continues to grow steadily. In 2020, the global life insurance market was valued at $3.8 trillion, and it is projected to reach $4.8 trillion by 2027, showcasing its upward trajectory.

Recent trends in the Life & Health Insurance industry have been shaped by advancements in technology, such as the use of artificial intelligence and big data analytics to improve underwriting processes and offer personalized policies. Additionally, the COVID-19 pandemic has highlighted the importance of health insurance coverage and accelerated digital transformation within the industry.

The landscape of the Life & Health Insurance industry is constantly evolving, driven by changing consumer needs, regulatory updates, and technological advancements. Understanding the top companies within this dynamic industry is crucial for investors, policymakers, and individuals seeking reliable insurance coverage.

Ranking

#25 Legal & General Group Plc

Legal & General Group Plc

Employees: 8K

Revenue: 2.2B$

Website: https://www.legalandgeneral.com

Description: Legal & General Group Plc, headquartered in London, United Kingdom, is a leading player in the Life & Health Insurance industry. Founded in 1836, the company has a strong presence in the market. With approximately 8,000 employees, Legal & General offers a wide range of life and health insurance products to individuals and businesses. The company has a solid track record of delivering reliable and innovative insurance solutions to its customers. Legal & General Group Plc generates an annual revenue of 2.2 billion US dollars, showcasing its financial strength and stability in the market.

#24 Standard Life Aberdeen Plc

Standard Life Aberdeen Plc

Employees: 6.5K

Revenue: 8.3B$

Website: https://www.standardlifeaberdeen.com/

Description: Standard Life Aberdeen Plc is a leading company in the Life & Health Insurance industry. Headquartered in Edinburgh, United Kingdom, the company has been operating since its founding in 1825. With a workforce of approximately 6,500 employees, Standard Life Aberdeen is dedicated to providing comprehensive life and health insurance solutions to individuals and businesses. The company has achieved significant success in the industry, generating an impressive annual revenue of 8.3 billion US dollars. Standard Life Aberdeen is committed to delivering financial security and peace of mind to its customers through its innovative insurance products and services.

#23 AIA Group Limited

AIA Group Limited

Employees: 26K

Revenue: 16B$

Website: https://www.aia.com

Description: AIA Group Limited, headquartered in Hong Kong, Asia, is a leading life and health insurance company in the finance industry. Founded in 1919, AIA has established itself as a prominent player in the insurance sector. With a workforce of approximately 26,000 employees, the company is committed to providing comprehensive insurance solutions to individuals and businesses. AIA offers a wide range of life and health insurance products, including medical, critical illness, and personal accident coverage. The company's primary focus is to ensure the financial well-being and protection of its policyholders, offering them peace of mind and security. AIA has achieved significant success and has generated impressive revenue of 16 billion USD, solidifying its position as a leader in the industry.

#22 NN Group NV

NN Group NV

Employees: 16K

Revenue: 18B$

Website: https://www.nn-group.com/

Description: NN Group NV is a leading provider of Life & Health Insurance services based in The Hague, Netherlands. With a history dating back to 1845, the company operates primarily in Europe and offers a wide range of insurance products and services to individuals and businesses. NN Group is committed to helping customers secure their financial futures by providing comprehensive life and health insurance coverage, including retirement plans, savings accounts, and investment products. The company has a workforce of approximately 16,000 employees who are dedicated to delivering excellent customer service and innovative insurance solutions. In 2020, NN Group recorded a revenue of 18 billion dollars, solidifying its position as a key player in the finance industry.

#21 The Hartford Financial Services Group, Inc

The Hartford Financial Services Group, Inc

Employees: 16K

Revenue: 20B$

Website: https://www.thehartford.com/

Description: The Hartford Financial Services Group, Inc, headquartered in Hartford, United States, is a leading provider of Life & Health Insurance. Founded in 1810, the company has a workforce of approximately 16,000 employees. With annual revenue of around 20 billion dollars, The Hartford offers a wide range of insurance products and services including life insurance, disability insurance, long-term care insurance, and group benefits. The company focuses on providing financial protection and peace of mind to individuals and businesses through its innovative insurance solutions. The Hartford is committed to delivering exceptional customer service and maintaining strong relationships with its policyholders. With a long history and expertise in the industry, The Hartford continues to be a trusted name in the Life & Health Insurance sector.

#20 Power Corporation Of Canada

Coming Soon

Employees: 30K

Revenue: 30B$

Website: https://www.powercorporation.com

Description: Power Corporation of Canada, headquartered in Montreal, Canada, is a prominent player in the Life & Health Insurance industry. Founded in 1925, the company has a workforce of around 30,000 employees. With an impressive revenue of 30 billion USD, Power Corporation of Canada is a major force in the finance sector. They specialize in providing life and health insurance solutions to individuals and businesses. Their comprehensive range of products and services includes term life insurance, whole life insurance, critical illness insurance, disability insurance, and health insurance. Power Corporation of Canada is committed to delivering innovative insurance solutions that cater to the evolving needs of their customers, ensuring financial security and peace of mind.

#19 Aviva Plc

Aviva Plc

Employees: 30K

Revenue: 33B$

Website: https://www.aviva.com/

Description: Aviva Plc, headquartered in London, United Kingdom, is a leading provider of Life & Health Insurance services in the finance industry. The company was founded in 2000 and currently employs approximately 30,000 individuals. With a revenue of 33 billion US dollars, Aviva offers a wide range of insurance products and services, focusing on life and health coverage for individuals and groups. They provide insurance solutions to help customers protect their financial future, offering policies such as life insurance, critical illness cover, income protection, and health insurance. Aviva is committed to delivering excellent customer service and innovative insurance solutions to meet the evolving needs of its clients in the Life & Health Insurance sector.

#18 Swiss Re Ltd

Coming Soon

Employees: 14K

Revenue: 37B$

Website: https://www.swissre.com/

Description: Swiss Re Ltd is a leading global reinsurance company headquartered in Zurich, Switzerland. With a history dating back to 1863, the company operates in the Life & Health Insurance industry, providing risk transfer solutions to clients worldwide. Swiss Re employs approximately 14,000 employees who work diligently to assess and manage risks associated with life and health insurance policies. The company generates a substantial revenue of 37 billion dollars, offering a wide range of insurance products and services to its clients. With its strong presence in the industry, Swiss Re continues to play a vital role in supporting the financial stability of the global life and health insurance market.

#17 Sun Life Financial Inc

Sun Life Financial Inc

Employees: 22K

Revenue: 39B$

Website: https://www.sunlife.com

Description: Sun Life Financial Inc is a leading company in the Life & Health Insurance industry. Headquartered in Toronto, Canada, they have been operating since 1865. With a workforce of approximately 22,000 employees, Sun Life Financial offers a wide range of insurance and financial products and services to individuals and businesses. Their offerings include life insurance, health insurance, retirement planning, investment solutions, and wealth management services. Sun Life Financial has established a strong presence in the industry, generating a revenue of around 39 billion dollars. They are committed to helping their customers achieve lifetime financial security and live healthier lives.

#16 Cigna Corporation

Cigna Corporation

Employees: 74K

Revenue: 49B$

Website: https://www.cigna.com

Description: Cigna Corporation, headquartered in Bloomfield, United States, is a leading company in the Life & Health Insurance industry. With a history dating back to 1792, Cigna has established itself as a trusted provider of insurance services. The company has a workforce of approximately 74,000 employees, who are dedicated to offering a wide range of insurance solutions to individuals and businesses. Cigna's revenue stands at around 49 billion dollars, reflecting its strong market presence and successful operations. Through its comprehensive portfolio of life and health insurance products, Cigna aims to protect and improve the well-being of its customers, providing them with financial security and peace of mind.

#15 China Pacific Insurance (Group) Co., Ltd.

China Pacific Insurance (Group) Co., Ltd.

Employees: 110K

Revenue: 50B$

Website: https://www.cpic.com.cn/

Description: China Pacific Insurance (Group) Co., Ltd. is a leading player in the Life & Health Insurance industry. Headquartered in Shanghai, China, the company was founded in 1991. With a workforce of approximately 110,000 employees, China Pacific Insurance operates with a significant presence in the market. The company has achieved impressive revenue of around 50 billion US dollars, showcasing its strong financial performance. China Pacific Insurance offers a wide range of life and health insurance products, catering to the diverse needs of its customers. With its extensive experience and expertise, the company strives to provide reliable and comprehensive insurance solutions to individuals and businesses across China, ensuring financial security and peace of mind.

#14 Great-West Lifeco Inc

Great-West Lifeco Inc

Employees: 22K

Revenue: 50B$

Website: https://www.greatwestlifeco.com

Description: Great-West Lifeco Inc, headquartered in Winnipeg, Canada, is a leading player in the Life & Health Insurance industry. With a rich history dating back to 1891, the company has established itself as a trusted provider of insurance products and services. Great-West Lifeco Inc operates primarily in North America and offers a wide range of life and health insurance solutions to individuals, families, and businesses. The company's commitment to delivering financial security and peace of mind to its customers has been instrumental in its success. With a workforce of approximately 22,000 employees, Great-West Lifeco Inc continues to innovate and adapt to the evolving needs of the insurance market. In recent years, the company has achieved impressive revenue growth, with annual revenues reaching 50 billion dollars. Through its strong financial performance and dedication to customer satisfaction, Great-West Lifeco Inc remains a prominent player in the Life & Health Insurance industry.

#13 Prudential Plc

Prudential Plc

Employees: 20K

Revenue: 50B$

Website: https://www.prudentialplc.com/

Description: Prudential Plc is a leading global company in the Life & Health Insurance industry. Headquartered in London, United Kingdom, the company has been operating since 1848. With a workforce of approximately 20,000 employees, Prudential Plc provides a wide range of life and health insurance products and services to individuals and businesses around the world. The company's revenue, amounting to 50 billion US dollars, reflects its strong market presence and success. Prudential Plc is committed to delivering financial security and peace of mind to its customers through innovative insurance solutions and investment strategies.

#12 Munich Reinsurance Company

Munich Reinsurance Company

Employees: 40K

Revenue: 50B$

Website: https://www.munichre.com/

Description: Munich Reinsurance Company, headquartered in Munich, Germany, is a leading player in the Life & Health Insurance industry. Founded in 1880, the company has established itself as a trusted provider of reinsurance solutions. With a workforce of approximately 40,000 employees, Munich Re is committed to delivering innovative products and services to its clients. The company's revenue stands at an impressive 50 billion dollars, reflecting its strong market presence. Munich Re's expertise lies in providing risk management and financial services to the life and health insurance sector, enabling its clients to effectively manage their portfolios. With its long-standing history and global reach, Munich Reinsurance Company continues to be a dominant force in the finance industry, particularly in the field of life and health insurance.

#11 MetLife Inc

MetLife Inc

Employees: 58K

Revenue: 52B$

Website: https://www.metlife.com

Description: MetLife Inc is a leading company in the Life & Health Insurance industry. Headquartered in New York City, United States, MetLife has been in operation since 1868. With a workforce of approximately 58,000 employees, the company provides a range of insurance products and services related to life and health coverage. MetLife serves millions of customers worldwide and is renowned for its expertise in providing financial protection and retirement solutions to individuals and businesses. The company generates substantial annual revenue, amounting to around 52 billion dollars. With its long-standing presence and strong market position, MetLife continues to be a trusted name in the Life & Health Insurance sector.

#10 Manulife Financial Corporation

Manulife Financial Corporation

Employees: 35K

Revenue: 52.9B$

Website: https://www.manulife.com/

Description: Manulife Financial Corporation is a leading provider of Life & Health Insurance based in Toronto, Canada. With its headquarters in North America, the company has a rich history since its founding in 1887. Manulife has a workforce of approximately 35,000 employees and generates a revenue of 52.9 billion USD. The company specializes in offering a wide range of life insurance, health insurance, and retirement solutions to individuals, families, and businesses. Manulife is committed to ensuring the financial well-being of its customers and helping them achieve their long-term financial goals. With a strong presence in the finance industry, Manulife is recognized for its innovative products, customer-centric approach, and global reach, making it a trusted name in the Life & Health Insurance sector.

#9 Prudential Financial Inc

Prudential Financial Inc

Employees: 50K

Revenue: 60B$

Website: https://www.prudential.com/

Description: Prudential Financial Inc, headquartered in Newark, United States, is a leading company in the Life & Health Insurance industry. With a history dating back to 1875, Prudential has established itself as a trusted provider of insurance and financial services. The company employs approximately 50,000 professionals globally, who are dedicated to delivering innovative insurance solutions and helping individuals and businesses achieve financial security. Prudential's diverse portfolio of products includes life insurance, retirement planning, investment management, and annuities. Committed to meeting the evolving needs of its customers, Prudential continues to leverage its expertise and technological advancements to provide personalized and comprehensive insurance coverage and financial solutions. With annual revenues of 60 billion dollars, Prudential Financial Inc is a key player in the finance industry, ensuring the well-being and protection of individuals and their families.

#8 Zurich Insurance Group Ltd

Coming Soon

Employees: 55.3K

Revenue: 67.2B$

Website: https://www.zurich.com/

Description: Zurich Insurance Group Ltd, headquartered in Zurich, Switzerland, is a leading player in the Life & Health Insurance industry. Founded in 1872, the company has a strong presence in the global market. With approximately 55,300 employees, Zurich Insurance Group operates in over 215 countries and territories, providing a wide range of insurance products and services to individuals and businesses. The company's expertise lies in offering comprehensive life and health insurance coverage, including risk protection, wealth accumulation, and retirement planning solutions. Zurich Insurance Group is known for its customer-centric approach, innovative products, and strong financial performance. With a revenue of 67.2 billion dollars, the company continues to expand its market presence and deliver value to its stakeholders.

#7 Kaiser Permanente

Kaiser Permanente

Employees: 250K

Revenue: 80B$

Website: https://www.kp.org

Description: Kaiser Permanente, headquartered in Oakland, United States, is a prominent player in the Life & Health Insurance industry. Established in 1945, the company has grown to employ approximately 250,000 individuals. With a revenue of around 80 billion dollars, Kaiser Permanente operates as a leading provider of health insurance services, offering coverage for medical, dental, vision, and pharmacy needs. The company's focus lies in delivering high-quality, affordable healthcare services to its members, with a strong emphasis on preventive care and wellness programs. Kaiser Permanente operates through a network of hospitals, medical centers, and health plan divisions, serving millions of individuals across North America.

#6 China Life Insurance Company Limited

China Life Insurance Company Limited

Employees: 180K

Revenue: 85B$

Website: https://www.chinalife.com.cn

Description: China Life Insurance Company Limited is a major player in the Life & Health Insurance industry in China. Headquartered in Beijing, China, the company was founded in 1949. With approximately 180,000 employees, China Life Insurance operates as a leading provider of life insurance, health insurance, and pension products and services. The company offers a wide range of policies and plans to meet the diverse needs of its customers, including individual and group life insurance, accident insurance, and medical insurance. China Life Insurance is committed to providing comprehensive coverage and financial protection to its policyholders, while also promoting sustainable growth and contributing to the development of the insurance sector in China. With annual revenue of approximately 85 billion US dollars, China Life Insurance holds a prominent position in the industry and continues to expand its market presence and offerings to meet the evolving needs of its customers.

#5 Generali Group

Generali Group

Employees: 70K

Revenue: 90B$

Website: https://www.generali.com/

Description: Generali Group is a leading player in the Life & Health Insurance industry. Headquartered in Trieste, Italy, it operates across Europe and other parts of the world. With a history dating back to 1831, Generali has established itself as one of the oldest and most reputable insurance companies globally. The company offers a wide range of life and health insurance products, including individual and group policies, retirement plans, and investment-linked products. With a workforce of approximately 70,000 employees, Generali serves millions of customers, providing them with financial protection and peace of mind. In terms of revenue, the company generates around 90 billion dollars annually, solidifying its position as a key player in the finance industry.

#4 AXA SA

AXA SA

Employees: 160K

Revenue: 103.5B$

Website: https://www.axa.com

Description: AXA SA, headquartered in Paris, France, is a leading player in the Life & Health Insurance industry. With a history dating back to 1817, AXA has grown to become a global insurance and asset management company. The company operates in various segments, including life insurance, health insurance, and asset management. AXA offers a wide range of insurance products and services, catering to the needs of individuals, businesses, and institutional clients. With a workforce of approximately 160,000 employees, AXA serves millions of customers worldwide. In 2020, AXA reported a revenue of 103.5 billion dollars, solidifying its position as a major player in the finance industry.

#3 Ping An Insurance (Group) Company Of China, Ltd.

Ping An Insurance (Group) Company Of China, Ltd.

Employees: 190K

Revenue: 110B$

Website: https://www.pingan.cn/

Description: Ping An Insurance (Group) Company Of China, Ltd. is a leading company in the Life & Health Insurance industry. Headquartered in Shenzhen, China, the company was founded in 1988. With approximately 190,000 employees, Ping An Insurance provides a wide range of insurance products and services, focusing on life and health insurance. The company has achieved significant revenue growth, with an estimated annual revenue of 110 billion USD. Ping An Insurance is renowned for its innovative and customer-centric approach, leveraging technology to provide convenient and personalized insurance solutions to its customers. With a strong presence in the Chinese market, Ping An Insurance continues to expand its operations and deliver financial security to individuals and families across the country.

#2 Allianz SE

Allianz SE

Employees: 150K

Revenue: 130B$

Website: https://www.allianz.com/

Description: Allianz SE, headquartered in Munich, Germany, is a leading player in the Life & Health Insurance industry. With a rich history dating back to 1890, Allianz has established itself as a trusted name in the financial world. The company boasts a workforce of approximately 150,000 employees who diligently work towards providing comprehensive life and health insurance solutions to individuals and businesses. Allianz generates a staggering revenue of 130 billion dollars, showcasing its significant presence in the industry. Through its strong global presence and commitment to customer-centric services, Allianz continues to be a driving force in the Life & Health Insurance sector.

#1 Berkshire Hathaway Inc

Berkshire Hathaway Inc

Employees: 360K

Revenue: 247B$

Website: https://www.berkshirehathaway.com

Description: Berkshire Hathaway Inc is a multinational conglomerate headquartered in Omaha, United States. The company, founded in 1839, operates in the Life & Health Insurance industry within the finance sector. With approximately 360,000 employees, Berkshire Hathaway generates a revenue of 247 billion dollars. The company is involved in a range of activities including insurance, reinsurance, and investment management. Through its subsidiaries, Berkshire Hathaway offers various life and health insurance products, providing coverage and financial security to individuals and businesses. Known for its diverse portfolio, the company continues to expand its presence in the insurance industry while maintaining a strong foothold in other sectors such as manufacturing, utilities, and retail.

Summary

The analysis of the top companies in the sub-industry of Life & Health Insurance has revealed some key takeaways. These companies have been ranked based on their financial performance, market share, and customer satisfaction. Some of the top companies in this sub-industry include Prudential Financial, MetLife, and Anthem.

One unexpected finding is that these companies have shown remarkable resilience during the COVID-19 pandemic. Despite the challenging economic environment, they have managed to maintain stable financial performance and continue to serve their customers effectively.

Prudential Financial is one of the premier companies in the Life & Health Insurance sub-industry. With a strong presence in both life insurance and retirement solutions, Prudential Financial has established itself as a trusted provider of financial protection and planning services.

These top companies share a common approach of focusing on customer-centric solutions. They prioritize understanding their customers' needs and provide tailored insurance and investment products to meet those needs. Additionally, they invest heavily in technology to enhance their customer experience and streamline their operations.

What sets these eminent companies apart from their industry rivals is their commitment to innovation and adaptability. They constantly evolve their product offerings to address changing customer expectations and emerging trends in the insurance industry. Furthermore, they have a strong focus on corporate social responsibility, with initiatives to support community development and promote financial literacy.