[Ranking] TOP 25 Insurance Companies Q3/2023

#25 Legal & General Group Plc

Employees: 10K

Revenue: 5B$

Website: https://www.legalandgeneral.com/

Description: Legal & General Group Plc, headquartered in London, United Kingdom, is a prominent player in the insurance industry. With a history dating back to 1836, the company has established itself as a trusted provider of insurance products and services. Legal & General Group operates in various segments of the insurance market, including life insurance, retirement solutions, and general insurance. The company serves millions of customers worldwide and has a diverse portfolio of offerings to meet their insurance needs. With a workforce of approximately 10,000 employees, Legal & General Group is committed to delivering financial security and protection to individuals, families, and businesses. In 2020, the company generated a revenue of 5 billion US dollars, showcasing its strong performance in the industry.

#24 American Financial Group, Inc.

Employees: 9.5K

Revenue: 6.8B$

Website: https://www.afginc.com

Description: American Financial Group, Inc. is a leading insurance company based in Cincinnati, Ohio. With its headquarters in North America, the company operates primarily in the United States. Founded in 1959, American Financial Group has grown to become a major player in the insurance industry. The company employs approximately 9.5 thousand employees who work tirelessly to provide a wide range of insurance products and services to individuals and businesses. American Financial Group is known for its strong financial performance, generating an impressive revenue of 6.8 billion dollars. Through its subsidiaries, the company offers property and casualty insurance, specialty casualty insurance, annuity products, and more. With a commitment to excellence, American Financial Group continues to thrive in the competitive insurance market, providing innovative solutions and exceptional customer service.

#23 AIA Group Limited

Employees: 30K

Revenue: 16B$

Website: https://www.aia.com

Description: AIA Group Limited is a leading insurance company headquartered in Hong Kong, Asia. Founded in 1919, AIA operates in the insurance industry, providing a wide range of insurance products and services to individuals and businesses across the region. With approximately 30,000 employees, AIA has established a strong presence in the Asian market and is known for its commitment to helping people live healthier, longer, and better lives. The company has a comprehensive portfolio of insurance solutions, including life insurance, health insurance, retirement planning, and wealth management. AIA has achieved significant financial success, with annual revenue reaching 16 billion USD.

#22 Hartford Financial Services Group, Inc.

Employees: 17.5K

Revenue: 18.6B$

Website: https://www.thehartford.com

Description: The Hartford Financial Services Group, Inc., headquartered in Hartford, United States, is a prominent player in the insurance industry. Founded in 1810, the company has a rich history and extensive experience in providing insurance products and services. With a workforce of approximately 17.5 thousand employees, The Hartford is committed to delivering exceptional customer service and innovative solutions to individuals, businesses, and institutions. The company's revenue stands at an impressive 18.6 billion dollars, solidifying its position as a major player in the market. Through its comprehensive portfolio of insurance offerings, including property and casualty, group benefits, and mutual funds, The Hartford caters to a diverse range of clients, ensuring their financial security and peace of mind.

#21 Travelers Companies Inc

Employees: 30K

Revenue: 31B$

Website: https://www.travelers.com

Description: Travelers Companies Inc is a leading insurance company operating in the insurance industry. Headquartered in New York City, United States, the company was founded in 1853. With a workforce of approximately 30,000 employees, Travelers provides a wide range of insurance products and services to individuals, businesses, and organizations. The company offers property and casualty insurance, personal insurance, business insurance, and specialty insurance. Travelers is known for its strong financial stability and commitment to customer satisfaction. With annual revenue of 31 billion dollars, Travelers is a major player in the insurance industry, providing reliable coverage and innovative solutions to its diverse customer base.

#20 Chubb Limited

Employees: 33K

Revenue: 32B$

Website: https://www.chubb.com/

Description: Chubb Limited is a leading insurance company operating in the Insurance industry. Headquartered in New York, United States, Chubb provides a wide range of insurance products and services to individuals and businesses. With a history dating back to 1985, Chubb has established itself as a trusted provider of property and casualty insurance, life insurance, reinsurance, and specialty insurance solutions. The company employs approximately 33,000 employees globally, who work diligently to deliver innovative insurance solutions tailored to meet the unique needs of their customers. Chubb's strong financial performance is reflected in its annual revenue of 32 billion USD, highlighting its position as a key player in the insurance industry.

#19 Swiss Re Ltd

Employees: 15K

Revenue: 36B$

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

Description: Swiss Re Ltd, headquartered in Zurich, Switzerland, is a leading global reinsurance company operating in the insurance industry. With a rich history dating back to 1863, Swiss Re has established itself as a trusted provider of reinsurance solutions worldwide. The company employs approximately 15,000 professionals who specialize in risk assessment, underwriting, and risk management. Swiss Re generates a substantial revenue of 36 billion dollars, offering a wide range of reinsurance products and services to insurers, corporations, and public entities. As a key player in the industry, Swiss Re plays a vital role in helping its clients manage and mitigate risks associated with natural disasters, pandemics, climate change, and other complex challenges.

#18 Manulife Financial Corporation

Employees: 35K

Revenue: 39B$

Website: https://www.manulife.com

Description: Manulife Financial Corporation, based in Toronto, Canada, is a leading insurance company operating in the insurance industry. Founded in 1887, the company has established itself as a trusted provider of insurance products and services. With a workforce of approximately 35,000 employees, Manulife is committed to delivering financial protection and retirement solutions to its customers. The company's revenue stands at an impressive 39 billion dollars, reflecting its strong market presence and successful business operations. Manulife's dedication to innovation and customer-centric approach has positioned it as a key player in the insurance industry, catering to the diverse needs of individuals, families, and businesses.

#17 Tokio Marine Holdings Inc

Employees: 40K

Revenue: 40B$

Website: https://www.tokiomarinehd.com/en/

Description: Tokio Marine Holdings Inc, headquartered in Tokyo, Japan, is a leading insurance company operating in the insurance industry. Founded in 1879, the company has a rich history and extensive experience in providing a wide range of insurance products and services. With a workforce of approximately 40,000 employees, Tokio Marine Holdings Inc is committed to delivering reliable and innovative insurance solutions to its customers. The company's revenue stands at around 40 billion US dollars, reflecting its strong position in the market. Tokio Marine Holdings Inc strives to meet the diverse insurance needs of individuals, businesses, and communities, ensuring financial protection and peace of mind for its customers.

#16 American International Group, Inc.

Employees: 45K

Revenue: 49B$

Website: https://www.aig.com

Description: American International Group, Inc. (AIG) is a leading global insurance company based in New York City. Founded in 1919, AIG operates in the insurance industry and offers a wide range of insurance products and services to individuals, businesses, and institutional clients. With headquarters in the United States, AIG has a strong presence in North America and operates globally, serving customers in more than 80 countries and jurisdictions. The company has a workforce of approximately 45,000 employees, who are dedicated to providing innovative insurance solutions tailored to meet the specific needs of their customers. AIG is committed to helping individuals and businesses manage risk and protect their assets, offering insurance coverage for property, casualty, life, retirement, and financial products. With annual revenue of 49 billion dollars, AIG is a recognized leader in the insurance industry, known for its financial strength, expertise, and customer-centric approach.

#15 Munich Re Group

Employees: 43K

Revenue: 51B$

Website: https://www.munichre.com

Description: Munich Re Group is a leading insurance company based in Munich, Germany. With its headquarters in Munich, the company operates in the insurance industry, providing a wide range of insurance and reinsurance products and services. Founded in 1880, Munich Re has a long history of expertise and is known for its financial strength and global presence. The company employs approximately 43,000 employees worldwide and generates an annual revenue of around 51 billion US dollars. Munich Re Group offers insurance solutions for various sectors including property and casualty, life and health, and specialty insurance. The company's commitment to innovation and risk management has made it a trusted partner for clients around the world.

#14 Prudential Financial, Inc.

Employees: 49K

Revenue: 56B$

Website: https://www.prudential.com

Description: Prudential Financial, Inc. is a leading insurance company headquartered in Newark, United States. Founded in 1875, Prudential operates in the insurance industry, providing a wide range of insurance products and services. With approximately 49,000 employees, the company serves millions of customers worldwide. Prudential focuses on offering life insurance, retirement planning, investment management, and other financial products to individuals and institutions. The company has a strong presence in North America and has expanded its operations globally. Prudential has achieved significant financial success, with annual revenue reaching 56 billion dollars. Through its innovative solutions and commitment to customer satisfaction, Prudential continues to be a prominent player in the insurance industry.

#13 Aviva Plc

Employees: 29K

Revenue: 60B$

Website: https://www.aviva.com

Description: Aviva Plc, headquartered in London, United Kingdom, is a leading insurance company operating in the insurance industry. Founded in 2000, Aviva has a workforce of approximately 29,000 employees. With a revenue of 60 billion US dollars, Aviva offers a wide range of insurance products and services, including life insurance, general insurance, health insurance, and asset management. The company is dedicated to providing innovative and tailored solutions to its customers, ensuring financial protection and peace of mind. Aviva's strong presence in the insurance market is driven by its commitment to customer satisfaction, financial strength, and global expertise.

#12 Zurich Insurance Group Ltd

Employees: 55K

Revenue: 60B$

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

Description: Zurich Insurance Group Ltd is a leading insurance company headquartered in Zurich, Switzerland. With a history dating back to 1872, the company has established itself as a prominent player in the insurance industry. Zurich Insurance Group operates globally, providing a wide range of insurance products and services including property and casualty insurance, life insurance, and reinsurance. The company serves individuals, small businesses, and large corporations, offering customized solutions to meet their specific insurance needs. With a workforce of approximately 55,000 employees, Zurich Insurance Group is committed to delivering exceptional customer service and innovative insurance solutions. In 2020, the company reported revenue of 60 billion dollars, solidifying its position as one of the largest insurance companies in the world.

#11 Assicurazioni Generali S.p.A.

Employees: 70K

Revenue: 68B$

Website: https://www.generaligroup.com/

Description: Assicurazioni Generali S.p.A. is an insurance company headquartered in Trieste, Italy. Founded in 1831, the company has a long history in the insurance industry. With approximately 70,000 employees, Generali operates globally, offering a wide range of insurance products and services to individuals, businesses, and institutions. The company has a strong presence in Europe and has expanded its operations to various countries around the world. Generali has achieved significant revenue, with an estimated annual revenue of 68 billion US dollars. Committed to providing reliable insurance solutions, Generali continues to be a leading player in the insurance industry, leveraging its extensive experience and global network.

#10 Generali Group

Employees: 71K

Revenue: 70B$

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

Description: Generali Group, headquartered in Trieste, Italy, is a leading player in the insurance industry. With a history dating back to 1831, the company has established itself as a trusted provider of insurance and financial services. Employing approximately 71,000 employees worldwide, Generali operates across Europe and has a strong presence in Asia and the Americas. The company offers a wide range of insurance products, including life insurance, property and casualty insurance, and health insurance, catering to the diverse needs of individuals, families, and businesses. With annual revenues of around 70 billion dollars, Generali is a key player in the global insurance market, focused on delivering innovative solutions and exceptional customer service.

#9 MetLife, Inc.

Employees: 49K

Revenue: 70B$

Website: https://www.metlife.com

Description: MetLife, Inc. is a leading global insurance company headquartered in New York City. Founded in 1868, MetLife has a long history of providing insurance and financial services to individuals and businesses. With approximately 49,000 employees, MetLife operates in the insurance industry, offering a wide range of products including life insurance, dental insurance, disability insurance, and annuities. The company generates an annual revenue of 70 billion dollars, making it one of the largest insurance companies in the world. MetLife is committed to delivering innovative solutions and exceptional customer service to its clients, helping them protect what matters most and achieve their financial goals.

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

Employees: 97K

Revenue: 82B$

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

Description: China Pacific Insurance (Group) Co., Ltd., headquartered in Shanghai, China, is a leading player in the insurance industry in Asia. Founded in 1991, the company has grown to become one of the largest insurance groups in China. With a workforce of approximately 97,000 employees, China Pacific Insurance provides a wide range of insurance products and services, including life insurance, property and casualty insurance, and asset management. The company has established a strong presence in the Chinese market and has expanded its operations internationally. With an annual revenue of 82 billion US dollars, China Pacific Insurance continues to drive innovation and deliver comprehensive insurance solutions to its customers.

#7 Prudential Plc

Employees: 20K

Revenue: 103B$

Website: https://www.prudential.co.uk/

Description: Prudential Plc is a leading insurance company operating in the insurance industry. Headquartered in London, United Kingdom, it has a rich history dating back to its establishment in 1848. With a workforce of approximately 20,000 employees, the company provides a wide range of insurance products and financial services to individuals and businesses. Prudential Plc has achieved significant success in the industry, generating an impressive revenue of 103 billion dollars. The company's commitment to innovation, customer-centric approach, and strong financial performance have positioned it as a trusted and reliable player in the insurance market.

#6 China Life Insurance Company Limited

Employees: 86K

Revenue: 117.7B$

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

Description: China Life Insurance Company Limited is a prominent player in the insurance industry in China. Headquartered in Beijing, China, the company has been in operation since 1949. With a workforce of approximately 86,000 employees, China Life Insurance offers a wide range of insurance products and services, including life insurance, health insurance, and retirement planning. The company has established a strong presence in the Chinese market and has become one of the largest life insurance companies globally. China Life Insurance has achieved significant financial success, generating an impressive annual revenue of 117.7 billion dollars. With its extensive network and comprehensive insurance offerings, China Life Insurance continues to be a trusted provider in the insurance industry in China.

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

Employees: 200K

Revenue: 120B$

Website: https://www.pingan.cn

Description: Ping An Insurance (Group) Company Of China, Ltd. is a leading insurance company based in Shenzhen, China. Founded in 1988, the company has grown to become one of the largest insurers in the world. With a workforce of approximately 200,000 employees, Ping An operates in various segments of the insurance industry, including life insurance, property and casualty insurance, and health insurance. The company also provides financial services such as asset management, banking, and trust services. Ping An Insurance has achieved significant financial success, with reported revenue of 120 billion US dollars. Through its comprehensive range of insurance products and services, Ping An continues to play a vital role in the insurance industry in China and globally.

#4 Allianz SE

Employees: 140K

Revenue: 142.4B$

Website: https://www.allianz.com

Description: Allianz SE is a leading insurance company headquartered in Munich, Germany. With a rich history dating back to 1890, Allianz has established itself as a prominent player in the insurance industry. The company operates globally, providing a wide range of insurance products and services to individuals, businesses, and institutions. Allianz offers insurance coverage for property and casualty, life and health, as well as asset management and banking services. With approximately 140,000 employees, Allianz is committed to delivering innovative solutions and outstanding customer service. In 2020, the company reported a revenue of 142.4 billion US dollars, solidifying its position as one of the largest insurance companies in the world.

#3 AXA Group

Employees: 160K

Revenue: 149.5B$

Website: https://www.axa.com

Description: AXA Group is a leading global insurance company headquartered in Paris, France. With a history dating back to 1817, AXA has established itself as a trusted provider of insurance and financial services. The company operates in the insurance industry, offering a wide range of products including life insurance, property and casualty insurance, health insurance, and investment management services. AXA is committed to protecting its customers' financial security and helping them plan for the future. With a workforce of approximately 160,000 employees, AXA serves millions of customers worldwide. The company has achieved significant financial success, generating annual revenue of 149.5 billion dollars.

#2 Cigna Corporation

Employees: 74K

Revenue: 167B$

Website: https://www.cigna.com

Description: Cigna Corporation, headquartered in Bloomfield, United States, is a leading player in the insurance industry. With a history dating back to 1982, Cigna has established itself as a trusted provider of health insurance and related services. The company boasts a workforce of approximately 74,000 employees, who work tirelessly to deliver quality healthcare solutions to individuals, employers, and governments. Cigna's revenue stands at an impressive 167 billion dollars, a testament to its strong market presence. Through its comprehensive range of insurance products, Cigna aims to improve the health, wellbeing, and peace of mind of its customers, ensuring they have access to affordable and innovative healthcare options.

#1 Berkshire Hathaway Inc

Employees: 360K

Revenue: 255B$

Website: https://www.berkshirehathaway.com/

Description: Berkshire Hathaway Inc, headquartered in Omaha, United States, is a prominent player in the insurance industry. Founded in 1839, the company has a workforce of approximately 360,000 employees. With an impressive revenue of 255 billion dollars, Berkshire Hathaway operates as a holding company for a multitude of businesses, including GEICO, Berkshire Hathaway Reinsurance Group, and General Re. The company's insurance operations are diverse, spanning various lines such as property and casualty, reinsurance, and life insurance. Berkshire Hathaway's success in the insurance industry is attributed to its disciplined underwriting approach, strong financial strength, and long-term investment strategy.

The analysis of the insurance sub-industry has revealed several key takeaways and rankings of the top companies. These companies have achieved significant accomplishments in their respective fields, solidifying their positions as leaders in the insurance industry.

One unexpected finding is the rise of insurtech companies that have disrupted the traditional insurance model with innovative technologies and customer-centric approaches. These insurtech firms have managed to carve out a niche in the market and attract a significant customer base.

Among the premier companies in the insurance sub-industry are AIG, Allianz, Berkshire Hathaway, AXA, and Ping An Insurance. These companies have consistently demonstrated their ability to adapt to changing market conditions and provide exceptional services to their clients.

One common element driving the prosperity of these leading firms is their focus on digital transformation. By leveraging technology, these companies have streamlined their operations, enhanced customer experience, and improved risk assessment and underwriting processes.

What sets these eminent companies apart from their industry rivals is their commitment to innovation and agility. They are constantly exploring new business models, investing in research and development, and embracing emerging technologies such as artificial intelligence and blockchain to stay ahead of the competition.