Insurance Companies
Insurance providers offer individuals, businesses, and institutional clients risk mitigation services. While a diverse array of insurance firms exist, their primary function is to ensure compensation or reimbursement for losses incurred by the insured party.
Insurance companies provide policies that cover a wide range of potential losses, including those related to accidents, health, property, casualty, homeownership, professional liability, malpractice, and other relevant areas.
As of December 22, 2022, the following is a compilation of the ten largest insurance companies by revenue. This list includes only publicly traded companies in the United States or Canada, directly listed or through ADRs.
Key Takeaways
- Berkshire Hathaway holds the top position among insurance companies in terms of revenue.
- These companies provide policies covering various losses, including accidents, health issues, property damage, and professional liability.
- Many major Insurance Companies firms have significant market presence across regions such as the United States, Latin America, Asia, Europe, the Middle East, and Africa.
1 – Berkshire Hathaway – Plan
- Revenue: $253.9 billion
- Net Income: -$1.3 billion
- Market Capitalization: $663.6 billion
- One-Year Trailing Total Return: 4.3%
- Stock Exchange: New York Stock Exchange
Berkshire Hathaway Inc. is a prominent conglomerate renowned for its extensive holdings across various industries. In addition to being a leading Insurance Companies provider, it has significant investments in sectors including rail transportation, utilities and energy, manufacturing, services, and retailing.
Berkshire Hathaway offers primary Insurance Companies services and also engages in reinsurance for property and casualty risks. It operates through entities like GEICO, Berkshire Hathaway GUARD Insurance Companies, Gateway Underwriters Agency, General Re, and National Indemnity Company.
2- Ping An Insurance Plan
- Revenue: $156.2 billion
- Net Income: $14.7 billion
- Market Capitalization: $114.8 billion
- One-Year Trailing Total Return: -7.5%
- Stock Exchange: OTC Markets
Ping An Insurance offers various services, including insurance, financial, and banking. It ranks within the top 50 companies listed on the Shanghai Stock Exchange.
Established in 1988, it holds the distinction of being China’s inaugural joint-stock insurance enterprise. Its subsidiaries encompass Ping An Life, Ping An Property & Casualty, Ping An Annuity, and Ping An Health.
3 – Allianz SE Plan
- Revenue: $137.4 billion
- Net Income: $7.8 billion
- Market Capitalization: $85.3 billion
- One-Year Trailing Total Return: -1.85%
- Stock Exchange: OTC Markets
Allianz is a premier global financial services provider headquartered in Germany. It offers a wide array of products and services, including insurance and asset management. Its insurance portfolio encompasses property and casualty policies and health and life insurance, catering to corporate and individual clientele.
4- AXA SA Plan
- Revenue: $107.6 billion
- Net Income: $8.2 billion
- Market Capitalization: $64.6 billion
- One-Year Trailing Total Return: 5.8%
- Stock Exchange: OTC Markets
AXA is a prominent global insurance conglomerate renowned for its significant presence in property and casualty insurance, life insurance, savings, and asset management. The formation of AXA in the 1990s resulted from the merger of several prominent insurance companies.
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5 – MetLife Inc Plan
- Revenue: $71.6 billion
- Net Income: $2.4 billion
- Market Capitalization: $56.3 billion
- One-Year Trailing Total Return: 26.2%
- Stock Exchange: New York Stock Exchange
MetLife, Inc.is a significant player in the global market, offering insurance, annuities, and employee benefit programs. Leveraging its extensive network of subsidiaries and affiliates, MetLife maintains strong market positions across various regions, including the United States, Japan, Latin America, Asia, Europe, the Middle East, and Africa.
6 – Prudential PLC Plan
- Revenue: $63.5 billion
- Net Income: $328 million
- Market Capitalization: $36.2 billion
- One-Year Trailing Total Return: 1.2%
- Stock Exchange: New York Stock Exchange
Prudential PLC, headquartered in London, specializes in insurance and investment services and provides a comprehensive range of products. These offerings include life, health, accident, property, casualty policies, pensions, equity plans, mortgages, and other financial services. Prudential serves customers across all major global markets.
7 – American International Group Inc. Plan
- Revenue: $59 billion
- Net Income: $13.8 billion
- Market Capitalization: $46.7 billion
- One-Year Trailing Total Return: 21.4%
- Stock Exchange: New York Stock Exchange
American International Group, Inc. (AIG) is a prominent global insurance entity offering extensive property casualty insurance, life insurance, retirement solutions, and various financial services. Its operations extend to serving customers in around 70 countries worldwide.
8 – Allstate Corp. Plan
- Revenue: $52.6 billion
- Net Income: -$210 million
- Market Capitalization: $35.5 billion
- One-Year Trailing Total Return: 22.2%
- Stock Exchange: New York Stock Exchange
Allstate Corp. is a prominent provider of personal property and casualty products, specializing in auto, home, and life insurance offerings. In 2020, Allstate upheld its “You’re in good hands” motto by implementing the Shelter-in-Place Payback initiative, which entailed returning nearly $1 billion to auto customers over three months.
9 – Progressive Corp. Plan
- Revenue: $47.7 billion
- Net Income: $852 million
- Market Capitalization: $74.4 billion
- One-Year Trailing Total Return: 25.7%
- Stock Exchange: New York Stock Exchange
Established in 1937, Progressive Corp. is prominent in the auto and homeowners insurance sector. The company also provides financial services and a wide range of commercial and personal insurance products, including bundling options.
10 – Chubb Ltd. (CB) Plan
- Revenue: $42.1 billion
- Net Income: $6.1 billion
- Market Capitalization: $89.1 billion
- One-Year Trailing Total Return: 17.5%
- Stock Exchange: New York Stock Exchange
Chubb Ltd. is a publicly traded insurance company specializing in property and casualty coverage. It is the top commercial lines insurer in the U.S., operating in 54 countries and territories worldwide. Chubb offers a wide range of products, including commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance.