AM Greatest ranks world’s largest insurance coverage corporations

UnitedHealth Group has retained its number-one slot in AM Greatest’s rating of the world’s 25 largest insurance coverage corporations for the ninth straight yr, in keeping with the credit standing company. UnitedHealth grew its internet premiums written (NPW) by 14% in 2022 to US$257.2 billion.

In the meantime, Allianz SE retained its high spot for nonbanking belongings at US$1.1 trillion, regardless of a ten% lower from the earlier yr, AM Greatest reported.

The rankings of the world’s largest world insurance coverage corporations, by each NPW and nonbanking belongings, have been launched within the January 2024 situation of Greatest’s Evaluate.

In keeping with AM Greatest, the highest 10 insurers by NPW have been dominated by well being insurers, with US-based well being corporations accounting for 4 of the highest 5. Centene Well being retained its number-two place, with NPW rising 13.2%. Elevance Well being, at quantity three, additionally retained its place with NPW rising 13.5%. Kaiser Basis Group of Well being Plans rose to quantity 4, whereas Ping An Insurance coverage (Group) Firm of China held regular at quantity 5. The one insurer within the high 25 that noticed its NPW fall was China Life Insurance coverage (Group) Co., which slid from fourth to sixth place.

Life insurers dominated the highest 25 by nonbanking belongings, with seven of the highest 10 offering life insurance coverage merchandise. Ping An rose from fourth to second place as its belongings spiked 11.4% to US$960.7 billion in 2022. Berkshire Hathaway fell from quantity two to quantity three, whereas China Life Insurance coverage (Group) Firm rose from fifth to fourth place. AXA S.A. took the number-five slot, whereas Prudential Monetary fell from quantity three to quantity six as its belongings tumbled by 26.4%.

High 10 world insurers by 2022 NPW:

1. UnitedHealth Group, United States
2. Centene Company, United States
3. Elevance Well being, United States
4. Kaiser Basis Group of Well being Plans, United States
5. Ping An Insurance coverage (Group) Firm of China, China
6. China Life Insurance coverage (Group) Firm, China
7. AXA S.A., France
8. Allianz SE, Germany
9. Humana, United States
10. State Farm Group, United States

High 10 world insurers by 2022 nonbanking belongings:

1. Allianz SE, Germany
2. Ping An Insurance coverage (Group) Firm of China, China
3. Berkshire Hathaway, United States
4. China Life Insurance coverage (Group) Firm, China
5. AXA S.A., France
6. Prudential Monetary, United States
7. MetLife, United States
8. Nippon Life Insurance coverage Firm, Japan
9. Manulife Monetary Group, China
10. Authorized & Normal Group, United Kingdom

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