Insurance companies have taken different positions on Amazon (NASDAQ: AMZN) during 2026, with recent regulatory disclosures showing purchases by Ayalon Insurance, Zurich Insurance Group and several other insurers, alongside reductions by Manulife and Japan’s Meiji Yasuda Life.
The transactions reflect portfolio adjustments among institutional investors as Amazon expands its cloud computing and artificial intelligence infrastructure businesses.
- Ayalon Insurance increased its Amazon holdings by 15.5% in Q3 2026 to 47,017 shares worth $11.7 mn, according to its October 8 SEC filing.
- Zurich Insurance Group, Prudential Financial, Prudential plc and Factory Mutual Insurance increased their Amazon positions in Q2, with Zurich adding 192,158 shares.
- Manulife’s Manufacturers Life Insurance and Meiji Yasuda Life reduced their holdings. Manulife’s amended filing shows a 5.9% decline to 14.92 mn shares.
According to filings available as of October 18, 2026, the latest third-quarter disclosure from Ayalon Insurance shows an increase in its Amazon investment. Most other insurers have reported positions through June 30, with their third-quarter disclosures still pending.
Ayalon Insurance increases Amazon stake by 15.5%
Israel-based Ayalon Insurance Comp Ltd. purchased an additional 6,300 Amazon shares during the third quarter, increasing its holdings by 15.5% to 47,017 shares.
The investment was valued at approximately $11.71 mn at September 30, representing about 1% of Ayalon’s reported investment portfolio. Amazon ranked as its 26th-largest holding.
The position was disclosed in a Form 13F filed with the US Securities and Exchange Commission on October 8.
Zurich Insurance, Prudential and Factory Mutual add Amazon shares
Zurich Insurance Group increased its Amazon holdings by 192,158 shares, or 10.8%, during the second quarter of 2026. The insurer’s reported position reached 1,971,337 shares, worth approximately $469.8 mn at June 30. Amazon accounted for 3.26% of Zurich’s disclosed US securities portfolio.
US insurer Prudential Financial also expanded its investment. Its second-quarter filing reported a combined 8,925,205 Amazon shares across two reported positions, compared with 8,226,360 at the end of March.
The increase of 698,845 shares, approximately 8.5%, brought the reported value of its Amazon investment to $2.13 bn.
Prudential plc, the separately listed UK-based insurance group, increased its Amazon holdings by 57,402 shares, or 6.4%, to 953,710 shares. The position was valued at $227.3 mn.
Factory Mutual Insurance Company, the commercial property insurer associated with FM, also increased its exposure.
Its second-quarter holdings rose by 9,200 shares to 1,383,424, with a reported market value of approximately $329.7 mn. Amazon represented about 3.1% of its disclosed securities portfolio.
Manulife and Meiji Yasuda reduce Amazon positions
Other insurers moved in the opposite direction. The Manufacturers Life Insurance Company, part of Canada’s Manulife Financial, reduced its Amazon holdings during the second quarter.
The company’s amended SEC filing, submitted on September 9, reports 14,923,246 shares, down 940,452 shares, or 5.9%, from March 31.
The remaining position was valued at approximately $3.56 bn, making Manulife one of the largest Amazon investors among the insurers examined.
Earlier market reports cited 15,122,679 shares and a reduction of 741,019 shares, or 4.7%. The amended regulatory filing supports the revised figures.
Japan’s Meiji Yasuda Life Insurance also reduced its exposure, selling 3,455 shares during the second quarter. Its remaining position totaled 83,300 shares, valued at approximately $19.85 mn, representing a 4% reduction in holdings.
What insurance company investments indicate for Amazon
The latest filings show no uniform investment direction among major insurers.
Ayalon, Zurich, Prudential Financial, Prudential plc and Factory Mutual increased their Amazon positions, while Manulife and Meiji Yasuda reduced exposure.
The changes also differ substantially in financial scale. Ayalon’s entire Amazon investment was worth approximately $11.7 mn, compared with Manulife’s remaining position of more than $3.5 bn.
These disclosures should not be interpreted as direct predictions of Amazon’s share price. Form 13F reports show quarter-end holdings, rather than the prices paid for individual transactions or the investment managers’ reasons for trading. They may also include assets managed for clients rather than investments held directly on insurers’ own balance sheets.
Amazon remains widely held among institutional investors, with approximately 72.2% of its shares owned by institutional investors and hedge funds.
The next set of third-quarter filings will provide a clearer picture of whether the insurers that increased Amazon exposure during the first half of 2026 continued accumulating shares as investment in AI infrastructure accelerated.
