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TOP 25 Largest Insurance Companies — Forbes Global 2024

TOP 20 Largest Insurance Companies — Forbes Global

The 2024 edition Forbes Global highlights largest insurance companies’ decline in the annual ranking of the world’s top companies.

Forbes Global 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 2024 list to $8.3 bn compared to $7.8 bn in 2023, but the minimum for all other metrics is up over last year.

As a group, the companies on the 2024 account for $47.6 trln in revenues, $5 trln in profits, $233.7 trln in assets and $76.5 trln in market cap. There are 60 countries represented on the 2024 list. The United States has the most with 590 companies, followed by China/Hong Kong (351) and Japan (196).

TOP 25 Global Insurers by Forbes

InsurersCountryAssets, mn$Change, %
1AllianzGermany1,050,762-10.6
2Ping An Ins (Group) Co of ChinaChina960,67811.4
3Berkshire HathawayUnited States948,452-1.1
4China Life Ins (Group) CoChina885,0196.8
5AXAFrance713,622-10.5
6PrudentialUnited States689,917-26.4
7MetLifeUnited States666,611-12.3
8Nippon Life Ins CoJapan660,498-0.9
9Manulife Finl CorpCanada626,832-7.5
10Legal & Gen GroupUnited Kingdom619,092-11.9
11Assicurazioni GeneraliItaly554,201-11.5
12Life Ins Corp of IndiaIndia553,7977.6
13Amer Intl GroupUnited States526,634-11.7
14Great-West LifecoCanada517,93311.3
15CNP AssurancesFrance482,853-6.4
16Japan Post InsJapan472,687-6.7
17Dai-ichi Life HldgsJapan464,329-6.5
18Natl Mut Ins Fed Agricultural CoopJapan438,835-0.9
19Crédit Agricole AssurancesFrance437,112-7.8
20AegonBermuda428,087-14.5
21New York Life GroupUnited States405,3183.2
22Aviva plcUnited Kingdom380,321-12.0
23Zurich Ins GroupSwitzerland377,782-13.3
24Meiji Yasuda LifeJapan367,8341.2
25TIAA GroupUnited States365,3001.4
Source: Forbes Global

This table provides an overview of the leading global insurance companies based on their assets and recent changes in their valuations.

Munich Re (reinsurer) and Berkshire (ranked in the “investment and services” category) do not ap-pear in the Forbes ranking of insurers.

FAQ

What factors determine a company’s ranking on the Forbes Global 2024 list?

Forbes Global ranks companies based on four metrics: sales, profits, assets, and market value. These factors collectively assess each company’s financial strength and market position.

How did market changes affect the 2024 Forbes Global ranking criteria?

Market turbulence raised the minimum requirements for most metrics, except for market value, which decreased to $8.3 bn, down from $7.8 bn in 2023. This shift highlights the impact of economic volatility on market valuations.

Which countries have the most representation on the 2024 Forbes Global list?

The United States leads with 590 companies on the list, followed by China/Hong Kong with 351, and Japan with 196. In total, companies from 60 countries are represented in the rankings.

Why aren’t Munich Re and Berkshire Hathaway ranked among insurers in the Forbes list?

Forbes categorizes Berkshire Hathaway in the “investment and services” category and Munich Re as a reinsurer. Therefore, they do not appear in the insurer-specific rankings.

How did the largest global insurers perform in the 2024 rankings?

Top insurers like Allianz, Ping An, and Berkshire Hathaway experienced mixed changes in asset valuation. While Ping An saw an 11.4% increase, others like Allianz saw declines due to various economic factors impacting their valuation.

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Edited & Fact-checked by Oleg Parashchak – CEO Finance Media & Editor-in-Chief at Beinsure Media and Insurance TOP Ratings (23+ years of professional experience in Rankings, Insurance & Media) by Forbes.