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Top 10 Largest Insurance Firms

Insurance firms offer risk management services to individuals, businesses, and institutions, ensuring payment or reimbursement in case of losses for the insured. These companies provide various types of coverage, including accidents, health, property, homeownership, professional liability, malpractice, and casualty.

Here are the 10 largest insurance companies by revenue as of Dec. 22, 2022. This list includes publicly traded companies in the U.S. or Canada, either directly or through ADRs.

1. Berkshire Hathaway (BRK.B)

  • Revenue: $253.9 billion
  • Net Income: -$1.3 billion
  • Market Cap: $663.6 billion

Berkshire Hathaway is a conglomerate and a major insurance company, offering primary insurance and reinsurance through subsidiaries like GEICO, General Re, and National Indemnity Company.

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

  • Revenue: $156.2 billion
  • Net Income: $14.7 billion
  • Market Cap: $114.8 billion

Ping An Insurance provides insurance, financial services, and banking, being one of the top 50 companies listed on the Shanghai Stock Exchange.

3. Allianz SE (ALIZY)

  • Revenue: $137.4 billion
  • Net Income: $7.8 billion
  • Market Cap: $85.3 billion

Allianz is a global financial services company, offering insurance products from property and casualty to health and life insurance.

4. AXA SA (AXAHY)

  • Revenue: $107.6 billion
  • Net Income: $8.2 billion
  • Market Cap: $64.6 billion

AXA is a leading insurance group with businesses in property and casualty insurance, life insurance, savings, and asset management.

5. MetLife Inc (MET)

  • Revenue: $71.6 billion
  • Net Income: $2.4 billion
  • Market Cap: $56.3 billion

MetLife is a global provider of insurance, annuities, and employee benefit programs, holding market positions in various regions.

6. Prudential PLC (PUK)

  • Revenue: $63.5 billion
  • Net Income: 328 million
  • Market Cap: $36.2 billion

Prudential PLC is a London-based company offering insurance and investment services globally, covering life, health, accident, property, and casualty policies.

7. American International Group Inc. (AIG)

  • Revenue: $59 billion
  • Net Income: $13.8 billion
  • Market Cap: $46.7 billion

AIG is a global insurance organization providing property casualty insurance, life insurance, retirement solutions, and other financial services.

8. Allstate Corp. (ALL)

  • Revenue: $52.6 billion
  • Net Income: -$210 million
  • Market Cap: $35.5 billion

Allstate Corp. is a leader in personal property and casualty products, offering auto, home, and life insurance.

9. Progressive Corp. (PGR)

  • Revenue: $47.7 billion
  • Net Income: $852 million
  • Market Cap: $74.4 billion

Progressive Corp. is a well-established company in auto and homeowners insurance, also providing financial services.

10. Chubb Ltd. (CB)
– Revenue: $42.1 billion
– Net Income: $6.1 billion
– Market Cap: $89.1 billion

Chubb Ltd. is a property and casualty insurance company, leading in commercial lines in the U.S. with operations globally.

Please note that some of these stocks are traded OTC in the U.S., and trading OTC stocks may involve higher costs.

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