UnitedHealth Group and AXA Ranked as World's Largest Insurers

In a dark area a golden number One is spotlighted

December 03, 2019

In a dark area a golden number One is spotlighted

UnitedHealth Group Incorporated occupied the top spot in A.M. Best's ranking of the world's 25 largest insurance companies for a fifth straight year, with $178.1 billion in net premiums written (NPW) in 2018. In addition, AXA SA moved past Allianz SE into the number one spot on A.M. Best's ranking by 2018 nonbanking assets.

A.M. Best said, overall, the annual rankings saw some movement at the top, as two companies moved up to enter the top five in the 2018 asset ranking, with four of the top five insurers ranked by NPW remaining from the previous year.

US-based health insurers made the biggest moves in the NPW ranking, highlighted by Centene Corp. rising to number 12 from number 18 and Kaiser Foundation Group of Health Plans moving into the number 5 spot after finishing at number 7 in the previous ranking. The impact of mergers and acquisitions was evident in the rankings: CVS Health Corp. Group came in at number 20 on the NPW ranking following its acquisition of Aetna Inc. AXA SA remained at number 2 in the NPW ranking, but saw its NPW increase by 3.2 percent, mainly due to its acquisition of XL Group in 2018.

In the assets ranking, Nippon Life Insurance Company moved to number four from number seven, trading places with Japan Post Insurance Co. Ltd. Berkshire Hathaway Inc. moved up one spot from number six in the previous ranking to enter the top five.

The top 10 global insurers ranked by 2018 NPW are as follows.

  1. UnitedHealth Group Incorporated, United States
  2. AXA SA, France
  3. Ping An Insurance (Group) Company of China Ltd., China
  4. China Life Insurance (Group) Company, China
  5. Kaiser Foundation Group of Health Plans, United States
  6. Anthem, Inc., United States
  7. Allianz SE, Germany
  8. Assicurazioni Generali S.p.A., Italy
  9. State Farm Group, United States
  10. People's Insurance Company (Group) of China Ltd., China

The top 10 global insurers ranked by 2018 nonbanking assets are as follows.

  1. AXA SA, France
  2. Allianz SE, Germany
  3. Prudential Financial Inc., United States
  4. Nippon Life Insurance Company, Japan
  5. Berkshire Hathaway Inc., United States
  6. MetLife Inc., United States
  7. Japan Post Insurance Co., Ltd., Japan
  8. Prudential plc, United Kingdom
  9. Legal & General Group plc, United Kingdom
  10. Ping An Insurance (Group) Company of China Ltd., China

December 03, 2019