The 2023 edition of “Forbes Global 2000” highlights largest insurance companies’ decline in the annual ranking of the world’s top companies.
Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets, and market value. Market turbulence has pushed down the minimum market value to be considered for the 2023 list to $7.9 billion compared to $7.6 billion in 2022, but the minimum for all other metrics is up over last year.
As a group, the companies on the 2023 Global 2000 account for $47.6 trillion in revenues, $5 trillion in profits, $233.7 trillion in assets and $76.5 trillion in market cap. There are 58 countries represented on the 2023 list. The United States has the most with 590 companies, followed by China/Hong Kong (351) and Japan (196).
TOP 20 Global Insurance Companies in Forbes*
|№||Company||Turnover, $ bn||Profits, $ bn||Assets, $ bn||Market value, $ bn|
|1||Ping An Insurance Group||181,37||15,74||1 587,11||121,69|
|5||China Life Insurance||130,5||7,87||769,88||43,02|
|8||Zurich Insurance Group||69,58||5,21||410,15||69,22|
|10||American International Group||52,06||9,39||521,83||48,73|
|15||Tokio Marine Holdings||50,57||3,85||234,91||35,19|
|16||ING Group||21,49||5,65||1 081,81||39,03|
|18||China Pacific Insurance||68,07||4,16||300,52||22,69|
|19||Dai-ichi Life Insurance||66,73||4,47||571,45||19,9|
Source: Forbes Global
* Munich Re (reinsurer) and Berkshire (ranked in the “investment and services” category) do not ap-pear in the Forbes ranking of insurers.
Fact-checked by Oleg Parashchak – Editor-in-Chief Beinsure Media, CEO Finance Media Holding