The World's Largest Insurers

The World's Largest Insurences

  

 The world’s top insurers are facing low bond yields, global geopolitical risk and regulatory pressures. Yet they’re forging ahead by enabling technology to woo new customers and cut claim handling costs and adding specialty or unique product lines to boost profits. “It’s a healthy industry from a balance sheet perspective, and there’s a lot of capital trying to get in,” says John Marra, insurance deals leader with PwC in New York City.
The top three insurers on the Forbes Global 2000 list of most powerful companies—Ping An Insurance Group, Allianz Group and AXA Group--are diversified players, with life & health, property & casualty, and financial services divisions.
The FORBES Global 2000 ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value. Among the world’s 25 largest insurers, China, Japan and the United States each house four, Switzerland and the United Kingdom house three, Germany has two, and Canada, France, Italy, Hong Kong and Taiwan each claim one spot.

China’s Ping An Insurance Group ranks first among insurers, moving up from overall spot #20 last year to #16 on this year’s list. Over the 12 months to April 7, when Global 2000 data was locked in, Ping An generated $106.6 billion in revenue, $9.5 billion in profits and its market capitalization stood at $100.8 billion. The tech-driven company boasted of 131 million customers at year-end 2016, up 20% from the beginning of the year, with nearly a quarter of the newcomers coming in online.