Top 10 Biggest Insurance Companies 2024

 Leading the list of the top 10 insurance companies are BRK.B, PNGAY, and ALIZY.

Top 10 Biggest Insurance Companies 2024

Insurance companies offer institutional, corporate, and individual clients risk management. Despite the wide variety of insurance companies, the protection ensures that the insured will be compensated or reimbursed in the event of losses.

Insurance companies provide policies that cover a variety of losses, including those resulting from accidents, illnesses, property, homeownership, professional liability, malpractice, and casualties.

 As of December 22, 2022, these are the top 10 insurance companies in terms of revenue. Only publicly traded companies in the United States or Canada, either directly or through ADRs, are included on this list.

Important lessons learned
    In terms of revenue, Berkshire Hathaway is the top insurance provider.
    Insurance firms provide coverage for losses brought on by mishaps, medical conditions, property damage, and professional liability.
    Market shares are held by some of the biggest insurance companies in the US, Latin America, Asia, Europe, the Middle East, and Africa.

Warning:Only over-the-counter (OTC) transactions, not exchange trades, are permitted for some of the stocks listed below. Compared to trading stocks on exchanges, trading OTC stocks frequently entails higher trading costs. This may reduce or even surpass possible profits.

Top 10 Biggest Insurance Companies 2024

#1 Berkshire Hathaway (BRK.B)

•      $253.9 billion in revenue
•     -$1.3 billion in net income
•     Value of the Market: $663.6 billion
•     Trailing One-Year Total Return: 4.3%
•     New York Stock Exchange is the exchange.

One of the biggest insurance providers in the country, Berkshire Hathaway Inc. is a sizable conglomerate with holdings in a number of other industries, including manufacturing, services, retail, utilities and energy, and rail transportation.

Through organizations like GEICO, Berkshire Hathaway GUARD Insurance Companies, Gateway Underwriters Agency, General Re, and National Indemnity Company, Berkshire offers primary insurance as well as reinsurance of property and casualty risks.

#2 Ping An Insurance (Group) Co. of China Ltd. (PNGAY)

•     $156.2 billion in revenue
•     $14.7 billion in net income
•     Value of Market: $114.8 billion
•     Trailing One-Year Total Return: -7.5%
•     OTC Markets for Exchange

Ping An Insurance offers banking, insurance, and financial services. Listed on the Shanghai Stock Exchange, it is among the top 50 companies.

It was the first joint-stock insurance company in China, established in 1988. Ping An Life, Ping An Property & Casualty, Ping An Annuity, and Ping An Health are some of its subsidiaries.

#3 Allianz SE (ALIZY)

•      Bring in $137.4 billion.
•     $7.8 billion in net income
•     $85.3 billion is the market capitalization.
•     Trailing One-Year Total Return: -1.85%
•     OTC Markets for Exchange

Leading international provider of financial services, Allianz offers a range of goods and services, including asset management and insurance. It provides both corporate and individual clients with a range of insurance products, from health and life insurance to property and casualty policies. Germany serves as the company's headquarters.

#4 AXA SA (AXAHY)

•     $107.6 billion in revenue
•     Gross Profit: $8.2 billion
•     $64.6 billion is the market capitalization.
•     5.8% is the 1-year trailing total return.
•     OTC Markets for Exchange

One of the top insurance companies in the world, AXA specializes in asset management, life, savings, and property and liability insurance. AXA was formed in the 1990s when several insurance companies joined forces.

#5 MetLife Inc (MET)

•     Income: $71.6 billion
•     $2.4 billion in net income
•     $56.3 billion is the market capitalization.
•     Trailing Total Return for One Year: 26.2%
•     New York Stock Exchange is the exchange.

An industry leader in the world of insurance, annuities, and employee benefit plans is MetLife, Inc. MetLife has market positions in the US, Japan, Latin America, Asia, Europe, the Middle East, and Africa through its numerous subsidiaries and affiliates.

#6 Prudential PLC (PUK)

•    $63.5 billion in revenue
•     Net Worth: $328 million
•     $36.2 billion is the market capitalization.
•     1.2% is the 1-year trailing total return.
•     New York Stock Exchange is the exchange.

Prudential PLC is a London-based provider of investment services and insurance. Products include equity plans, mortgages, pensions, life, health, and accident insurance, as well as property and casualty insurance. Prudential serves clients in all significant international markets.

#7 American International Group Inc. (AIG)

•     Income: $59 billion
•     $13.8 billion in net income
•     $46.7 billion is the market capitalization.
•     Trailing One-Year Total Return: 21.4%
•     New York Stock Exchange is the exchange.

American International Group, Inc. (AIG) is a well-known international insurance provider that offers clients in about 70 countries a comprehensive range of financial services, including life insurance, retirement plans, and property and casualty insurance.

#8 Allstate Corp. (ALL)

•     $52.6 billion in revenue
•     Net Income of -$210,000,000
•     $35.5 billion is the market capitalization.
•     22.2% is the 1-year trailing total return.
•     New York Stock Exchange is the exchange.

Leading provider of personal property and casualty insurance products, including house, auto, and life insurance, is Allstate Corp. With the Shelter-in-Place Payback initiative in 2020, Allstate fulfilled its "You're in good hands®" tagline by giving back nearly $1 billion to car owners over the course of three months.

#9 Progressive Corp. (PGR)

•     Income: $46.77 billion
•     $852 million in net income
•     Market Capitalization: $74.4 billion
•     Trailing One-Year Total Return: 25.7%
•     New York Stock Exchange is the exchange.

Having been established in 1937, Progressive Corp. holds a prominent position in the vehicle and home insurance sectors. Along with financial services, the company provides options for bundling personal and commercial insurance products.

#10 Chubb Ltd. (CB)

•     $42.1 billion in revenue
•     $6.1 billion in net income
•     $89.1 billion is the market cap.
•     17.5% is the 1-year trailing total return.
•     New York Stock Exchange is the exchange.

With operations in 54 countries and territories, Chubb Ltd. is the top commercial lines insurer in the United States and a publicly traded property and casualty insurance company. Products from Chubb include life insurance, reinsurance, commercial and personal property and casualty insurance, as well as personal accident and supplemental health insurance.

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