UnitedHealth Group topped AM Best's ranking of the world's 25 largest insurance companies for the seventh year in a row, according to the rating agency. In 2020, the insurer earned $201.5 billion in net premiums written (NPW). AM Best ranked Allianz SE and AXA S.A. first and second in non-banking assets by 2020.
AM In the January 3 issue of BestWeek, Best released its rankings of the largest global insurance companies by NPW and non-banking assets. BestLink data and additional research were used to compile the rankings. Ping An Insurance (Group) Company of China and China Life Insurance (Group) Company posted significant gains in the ranking by assets, both improving on their top-10 rankings from a year ago.
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According to AM Best, US health insurers dominated the NPW ranking, with membership gains in government programmes driving premium growth at these companies. Centene Group jumped from tenth to fourth place as its NPW increased nearly 50% year over year, aided by the acquisition of WellCare Health Plans in early 2020. AM Best reported that three other US-based insurers experienced double-digit NPW growth.
Top 10 Insurance Companies in the World 2022
- UnitedHealth Group (US)
- Ping An Insurance (Group) Company of China (China)
- China Life Insurance (Group) Company (China)
- Centene Corporation (US)
- Anthem (US)
- Kaiser Foundation Group of Health Plans (US)
- AXA S.A. (France)
- Allianz SE (Germany)
- People’s Insurance Company (Group) of China (China)
- Assicurazioni Generali S.p.A. (Italy)
The top 10 insurers by 2020 non-banking assets are:
- Allianz SE (Germany)
- AXA S.A. (France)
- Prudential Financial (US)
- Ping An Insurance (Group) Company of China (China)
- Berkshire Hathaway (US)
- MetLife (US)
- Nippon Life Insurance Company (Japan)
- China Life Insurance (Group) Company (China)
- Legal & General Group (UK)
- Manulife Financial Corporation (Canada).
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