Top 20 Biggest Insurance Companies in The World– Based on the annual report in 2020, there are Top 20 Biggest Insurance Companies in The World. Definitely, they are the main companies with a billion dollars of assets and tons of profit. Probably all of us know about these companies and their history from time to time. Insurance companies are companies that provide risk coverage services that give compensation for losses, damages, losses incurred, lost profits, or legal liability to third parties due to an uncertain event. All the third parties can rely on insurance companies with unpredictable risks in the future that will happen.


In our unpredictable life, people or companies can reduce miscellaneous risks, namely traffic accidents, disease, natural disasters, and others. This risk can disturb our activities and business and make the shock our internal finance. With the role of the insurance company, these potential huge losses can be reduced or minimized so it can save our budget. But in our world, there are a million insurance companies with different and diversity of products. They market these products to people all over the world to help people’s life. Of all insurance companies all over the world, there are just a few of the biggest of all. These indicators are measured by profit/ net income that companies had generated. Here are the Top 20 Biggest Insurance Companies in the World based on the published annual report in 2020.
Top 20 Biggest Insurance Companies in The World in 2020 According to Net Income / Profit
Rank | Name of Company | Revenue | Revenue | Net Income | Net Income |
---|---|---|---|---|---|
Origin Currency | US Dollar | Origin Currency | US Dollar | ||
1 | Ping An Insurance | 1,321 billion RMB | 211 billion US Dollar | 159.35 billion RMB | 25.49 billion US Dollar |
2 | Allianz SE | 119 billion Euro | 138 billion US Dollar | 7.13 billion Euro | 8.27 billion US Dollar |
3 | China Life insurance | 804 billion RMB | 128 billion US Dollar | 51.38 billion RMB | 8.22 billion US Dollar |
4 | Metife Inc | 67 billion US Dollar | 67 billion US Dollar | 5.41 billion US Dollar | 5.41 billion US Dollar |
5 | Manulife Financial Insurance | 78 Biilion Canadian Dollar | 63 billion US Dollar | 5.57 billion Canadian Dollar | 4.45 billion US Dollar |
6 | Aviva Plc | 29 billion Poundsterling | 39 billion US Dollar | 2.91 billion Poundsterling | 3.95 billion US Dollar |
7 | Zurich Insurance Group | 59 billion US Dollar | 59 billion US Dollar | 3.83 billion US Dollar | 3.83 billion US Dollar |
8 | AXA S.A | 96 billion Euro | 112 billion US Dollar | 3.16 billion Euro | 3.66 billion US Dollar |
9 | Dai-Chi Life Holdings | 7,827 billion Yen | 70 billion US Dollar | 363.77 billion yen | 3.27 billion US Dollar |
10 | Assicurazioni Generali | 85 billion Euro | 98 billion US Dollar | 2.75 billion Euro | 3.19 billion US Dollar |
11 | Prudential Financial Inc | 55 billion US Dollar | 55 billion US Dollar | 2.18 billion US Dollar | 2.19 billion US Dollar |
12 | Legal & Genenal Group Pc | 50 billion Poundsterling | 68 billion US Dollar | 1.57 Billion Poundsterling | 2.13 billion US Dollar |
13 | Nippon Life Insurance | 5,719 billion Yen | 51 billion US Dollar | 182.75 billion Yen | 1.64 billion US Dollar |
14 | CNP Assurances | 3,459 billion Euro | 4 billion US Dollar | 1.35 billion Euro | 1.56 billion US Dollar |
15 | Ney York Insurance Company | 32 billion US Dollar | 32 billion US Dollar | 1.50 billion US Dollar | 1.50 billion US Dollar |
16 | Japan Post Insurance | 6,786 billion Yen | 61 billion US Dollar | 166.10 billion Yen | 1.49 billion US Dollar |
17 | Credit Agricolae Assurances | 2 billion Euro | 2 billion US Dollar | 1.28 Billion Euro | 1.48 Billion US Dollar |
18 | Sumitomo Life Insurance | 28 billion US Dollar | 28 billion US Dollar | 0.49 billion US Dollar | 0.49 billion US Dollar |
19 | Aegon N.V | 0.012 billion Euro | 0.013 billion US Dollar | 0.045 billion Euro | 0.05 billion US Dollar |
20 | Meiji Yasuda Life Insurance | 207 billion Yen | 1 billion US Dollar | (-264.42 billion Yen) | (-2.37 billion US Dollar) |
21 | American International Grup | 43 billion US Dollar | 43 billion US Dollar | (-5.82 billion US Dollar ) | (-5.82 billion US Dollar ) |
Source : Annual Report, 2020 | |||||
Description : Origin Currency : Currency in the Annual Report | |||||
Currency Rate | |||||
1 Euro = 1.16 US Dollar (USD) | |||||
1 Poundsterling (GBP) = 1.36 US Dollar (USD) | |||||
1 Yen (JPY)= 0.009 US Dollar (USD) | |||||
1 Rem Renminbi (RMB) = 0.16 US Dollar (USD) | |||||
1 Canadian Dollar (CAD) = 0.80 US Dollar (USD) |
As additional data, we also published the financial condition of each company. These data describe the assets and liabilities conditions from the Balance sheets of the company in 2020. Here is the condition of Assets of liabilities of the insurance company in 2020.
The Assets and Liabilities of 20 Biggest Insurance Companies
Name of Company | Assets | Assets | Liabilities | Liabilities |
---|---|---|---|---|
Origin Currency | US Dollar | Origin Currency | US Dollar | |
Allianz SE | 1,060 billion Euro | 1,229 billion US Dollar | 975 billion Euro | 1,131 billion US Dollar |
Prudential Financial Inc | 516 billion US Dollar | 516 billion US Dollar | 493 billion Dollar | 493 billion Dollar |
AXA S.A | 804 billion Euro | 933 billion US Dollar | 728 billion Euro | 844 billion US Dollar |
Nippon Life Insurance | 80,081 billion Yen | 720 billion US Dollar | 73,923 billion Yen | 665 billion US Dollar |
Metife Inc | 795 billion US Dollar | 795 billion US Dollar | 720 billion US Dollar | 720 billion US Dollar |
Lega & Genenal Group Pc | 570 billion Poundsterling | 775 billion US Dollar | 560 billion Poundsterling | 762 billion US Dollar |
Ping An Insurance | 9,527 billion RMB | 1,524 billion US Dollar | 8,539 billion RMB | 1,366 billion US Dollar |
Japan Post Insurance | 70,172 billion Yen | 631 billion US Dollar | 67,331 billion Yen | 605 billion US Dollar |
China Life insurance | 4,252 billion RMB | 680 billion US Dollar | 3,795 billion RMB | 607 billion US dollar |
Manuife Financial Insurance | 880 billion Canadian Dollar | 704 billion US Dollar | 827 billion Canadian Dollar | 661 billion US Dollar |
Aviva Plc | 479 billion Poundsterling | 652 billion US Dollar | 459 billion Poundsterling | 624 billion US Dollar |
Assicurazioni Generali | 544 billion Euro | 631 billion US Dollar | 512 billion Euro | 594 billion US Dollar |
Dai-Chi Life Holdings | 63,593 billion Yen | 572 billion US Dollar | 58,786 billion Yen | 529 billion US Dollar |
American International Group | 586 billion US Dollar | 586 billion US Dollar | 519 billion US Dollar | 519 billion US Dollar |
Aegon N.V | 28 Milion Euro | 32 billion US Dollar | 3 billion Euro | 3.5 billion US Dollar |
CNP Assurances | 442 billion Euro | 513 billion US Dollar | 418 billion Euro | 485 billion US Dollar |
Prudential | 516 billion US Dollar | 516 billion US Dollar | 493 billion US Dollar | 493 billion US Dollar |
Zurich Insurance Group | 439 billion US Dollar | 439 billion US Dollar | 399 billion US Dollar | 399 billion US Dollar |
Meiji Yasuda Life Insurance | 42,613 billion Yen | 383 billion US Dollar | 39,072 billion Yen | 351 billion US Dollar |
Ney York Insurance Company | 414 billion US Dollar | 414 billion US Dollar | 359 billion US DOllar | 359 billion US DOllar |
Sumitomo Life Insurance | 319 billion US Dollar | 319 billion US Dollar | 300 billion US Dollar | 300 billion US Dollar |
Source : Annual Report, 2020 | ||||
Description : Origin Currency : Currency in the Annual Report | ||||
Currency Rate | ||||
1 Euro = 1.16 US Dollar (USD) | ||||
1 Poundsterling (GBP) = 1.36 US Dollar (USD) | ||||
1 Yen (JPY)= 0.009 US Dollar (USD) | ||||
1 Rem Renminbi (RMB) = 0.16 US Dollar (USD) | ||||
1 Canadian Dollar (CAD) = 0.80 US Dollar (USD) |
Brief Description of 20 Biggest Insurance Companies


1.Ping an insurance


historically, this company was founded in 1988 by Ma Mingzhe. Until now, this company has the head office in Shenzhen, China. In 2020, the Chinese-based company has revenue of 1,321 billion RMB or equivalent with 211 billion US dollars, meanwhile, the earned net income or profit reached 159 billion RMB or equivalent with 25 billion US dollars. Overall, this net income and profit are one of the biggest of the insurance companies.
2. Allianz SE


Allianz SE is one of the biggest insurance companies in 2020. Historically, it was founded on 5 February 1890 by Carl von Thieme. Geographically, this company has the head office in Munich, Germany in 2020, the German-based company has revenue of 119 billion Euro or equivalent with 138 billion US dollars, meanwhile, the earned net income or profit reached seven billion Euro or equivalent with 8.2 billion US Dollar.
3. China Life insurance


China Life insurance is another biggest insurance company in China. Historically, China life insurance was founded in 1949 and still has the head office in Beijing, China. Financially, based on the annual report in 2020, the revenue of the company reaches 804 billion RMB or equivalent with 128 billion US dollars, meanwhile, the profit is about 51 billion RMB or equivalent with 8.2 billion US dollars.
4. MetLife Inc


MetLife inc is one of the oldest and the biggest insurance company in the world. Historically, the company was founded on March 24, 1868. Geographically, the company has the head office in MetLife Building, New York City, USA. In 2020, according to the annual report, the revenue reach 67 billion US dollars and profit around 5.4 billion US dollars.
5. Manulife Financial Insurance


Manulife is the Canadian biggest one with billion of consumers and income. This company was founded on June 23, 1887, and still has the head office in Toronto, Ontario, Canada. In 2020, according to its annual report, the revenue in 2020 is around seventy-eight billion Canadian Dollars or equivalent with 63 billion US Dollars, meanwhile, the profit reaches five billion Canadian Dollars or equivalent with 4.4 billion US Dollars.
6. Aviva Plc


Aviva plc is a British multinational insurance company that had a head office in London; England founded in 2000. In 2020, Aviva Plc has a positive performance with revenue of 29-billion-pound sterling or equivalent with thirty-nine billion Pound sterling, meanwhile, the profit reaches 2-billion-pound sterling or 3.9 billion US Dollars.
7. Zurich Insurance


Zurich Insurance Group Ltd is a Swiss insurance company that has the head office in Zürich. Historically, this company was founded in 1872 and still has the head office in Zürich, Switzerland. Zurich Insurance is a Swiss-based company with positive business results in 2020. Based on the annual report in 2020, the revenue of the company reaches 59 billion US dollars, and the profit is around 3.8 billion US dollars.
8. AXA S.A


Axa is a France-based company that was founded in 1816 by Founder Claude Bébéar. This company has a long journey in the financial industry, especially in the Insurance sector. In 2020, financially, based on its published annual report, the company has revenue of ninety-six billion Euro ow equivalent to 112 billion US Dollar and profit reached three billion Euro or equivalent with 3.6 billion US Dollar.
9. Dai-Chi Life Holdings


The Dai-ichi Life Insurance Company, Limited or Dai-ichi Seimei Hoken Kabushiki-Kaisha (Japanese language) is one of the biggest insurance companies in Japan. It was founded on September 15, 1902, by Tsuneta Yano. In 2020, the revenue of the company reaches 7,827 billion Yen or equivalent with 70 billion US Dollars and profit of company reach 363 billion yen or equivalent with 3.2 billion US Dollar.
10. Assicurazioni Generali


Assicurazioni Generali S.p.A. or simply known as Generali Group is based on Trieste, Italy. It was founded in 1831. Along with the development of business of the company, in 2020, the revenue of the company reaches eighty-five billion Euro or equivalent with 98 billion US Dollar and profit of the company reach two billion Euro or equivalent with 3.1 billion US Dollar.
Here are The Top-10 World’s Biggest Insurance Companies in 2020. Check Our Youtube Channel :
11. Prudential Financial Inc


Prudential Financial or formerly known as “Friendly Assurance Company” was founded in New Jersey in 1875 by John Dryden. The company still has the head office in Newark, New Jersey, USA. In 2020, based on its annual report, the revenue of the company is around 55 billion US dollars and net income reaches 2 billion US dollars.
12. Legal & General Group Plc
Legal & General Group plc, commonly known as Legal & General, is a British multinational insurance company that had its main office in London, England. In 2020, the revenue of this company is around fifty billion Pound sterling or equivalent with 68 billion US dollars and profit or net income reach one billion Pound sterling or equivalent with 2.1 billion US Dollar.
13. Nippon Life Insurance
Nippon Life Insurance Company or Nihon Seimei Hoken Sōgo-gaisha, simply known as Nissay It was founded on July 4, 1889. Now, the company has the head office in 5-12 Imabashi Sanchōme, Chūō-Ku, Osaka, Japan. Along with the development of the company, in 2020, the revenue of the company reaches 5,719 billion Yen or equivalent with 51 billion US Dollar and profit reach 182 billion Yen or equivalent with 1.6 billion US Dollar.
14. CNP Assurances
CNP Assurances is a French company that has some business in the financial sector. This company was founded in 1959 and has many branches offices in some countries. In 2020, based on the annual report, the revenue of the company reaches 3,459 billion Euro or equivalent with 4 billion US Dollars and net income reach 1.3 billion Euro or equivalent to 1.5 billion US Dollar.
15. Ney York Life Insurance Company
New York Life Insurance Company (NYLIC) is one of the largest insurance companies in the United States. In 2020, the company has a positive result with revenue of 32 billion US dollars and profit reaches 1.5 billion US dollars.
16. Japan Post Insurance
Japan Post Insurance Co., Ltd. or in Japanese known as Kabushiki-gaisha Kanpo Seimei Hoken is a Japanese insurance company that was founded on October 1, 2007. Geographically, this company has the head office in Tokyo, Japan. In 2020, based on the annual report of the company, the revenue of this company reaches 6,786 billion Yen or equivalent with 61 billion US Dollar and the profit reach 166 billion Yen or equivalent with 1.4 billion US Dollar.
17. Credit Agricolae Assurances
Credit Agricole is a French company that has some operational business in financial services. This company was founded on May 23, 2000, and has its head office in Paris, France. In 2020, based on the annual report of the company, this company earns revenue of around two billion Euro or equivalent with 2 billion US Dollar and profit reach 1.2 billion Euro or equivalent with 1.4 billion US Dollar.
18. Sumitomo Life Insurance
Sumitomo Life Insurance Company or in Japanese known as Sumitomo Seimei Hoken Sōgo-gaisha, Sumisei is a mutual life insurance company that was founded in 1907 and has the head office in Osaka. In 2020, the revenue of the company reaches 28 billion US dollars and net income reach 0.4 billion US dollars.
19. Aegon N.V
Aegon N.V. is a Dutch multinational company that has a main office in The Hague, Netherlands. It was founded in 1983 38 years ago. In 2020, the revenue of the company reaches 0.012 billion Euro or equivalent with 0.013 billion US Dollar and profit reaches 0.045 billion Euro or equivalent with 0.05 billion US Dollar.
20. Meiji Yasuda Life Insurance
Meiji Yasuda Life Insurance Company is a Japanese insurance company, headquartered in Tokyo and created in 2004 with the merger between Meiji Life and Yasuda Life. In 2020, based on the annual report of the company, the revenue of the company reaches 207 billion Yen or equivalent with 1 billion US Dollars, but they have net loss of around (-264 billion Yen) or equivalent with (-2.3 billion US Dollar).
21. American International Group
American International Group, Inc., also known as AIG, is an American multinational insurance corporation. Historically, it was founded by Cornelius Vander Starr on December 19, 1919. Financially, the revenue of company reaches 43 billion US Dollar but have net loss around (-5 billion US Dollar).
Check our Video on YouTube The 11-20 Rank of Biggest Insurance Companies in The World
Bibliography of Top 20 Biggest Insurance Companies in The World
Ping An Insurance. 2021. Annual Report 2020. Accessed via https://group.pingan.com/investor_relations/results_and_presentations.html on October 7, 2021
Allianz SE.2021. Annual Report 2020. Accessed via https://www.allianz.com/en/investor_relations/results-reports/annual-reports.html on October 7, 2021
China Life insurance.2021. Annual Report 2020. Accessed via https://www.e-chinalife.com/tzzgx/investor-relations/company-reports/annual–interim-reports/ on October 7, 2021
MetLife Inc.2021. Annual Report 2020. Accessed via https://investor.metlife.com/financials/annual-reports/default.aspx on October 7, 2021
Manulife Financial Insurance.2021. Annual Report 2020. Accessed via https://www.manulife.com/en/investors/results-and-reports.html#Annual%20reports on October 7, 2021
Aviva Plc.2021. Annual Report 2020. Accessed via https://www.aviva.com/investors/reports/ on October 7, 2021
Zurich Insurance Group.2021. Annual Report 2020. Accessed via https://www.zurich.com/en/investor-relations/results-and-reports on October 7, 2021
AXA S.A.2021. Annual Report 2020. Accessed via https://www.axa.com/en/investor/annual-and-interim-reports on October 7, 2021
Dai-Chi Life Holdings.2021. Annual Report 2020. Accessed via https://www.dai-ichi-life-hd.com/en/investor/library/annual_report/index.html on October 7, 2021
Assicurazioni Generali.2021. Annual Report 2020. Accessed via https://www.generali.com/investors/financial-highlights on October 7, 2021
Prudential Financial Inc.2021. Annual Report 2020. Accessed via https://www.prudentialplc.com/en/investors/annual-report-2020 on October 7, 2021
Legal & General Group Pc.2021. Annual Report 2020. Accessed via https://group.legalandgeneral.com/en/investors on October 7, 2021
Nippon Life Insurance.2021. Annual Report 2020. Accessed via https://www.nissay.co.jp/english/annual/2020.html on October 7, 2021
CNP Assurances.2021. Annual Report 2020. Accessed via https://www.cnp.fr/en/the-cnp-assurances-group/newsroom/publications?search%5Bthematic%5D%5B%5D=119&search%5Bthematic%5D%5B%5D=120 on October 7, 2021
Ney York Ins Company.2021. Annual Report 2020. Accessed via https://www.newyorklife.com/assets/docs/pdfs/nyl-internet/file-types/NYL-Annual-Report.pdf on October 7, 2021
Japan Post Insurance.2021. Annual Report 2020. Accessed via https://www.jp-life.japanpost.jp/english/aboutus/financial/en_abt_fnc_ar.html on October 7, 2021
Sumitomo Life Insurance.2021. Annual Report 2020. Accessed via https://www.sumitomolife.co.jp/english/annual/ on October 7, 2021
Aegon N.V.2021. Annual Report 2020. Accessed via https://www.aegon.com/investors/annual-reports/ on October 7, 2021
Meiji Yasuda Life Insurance.2021. Annual Report 2020. Accessed via https://www.meijiyasuda.co.jp/english/ on October 7, 2021
American International Grup.2021. Annual Report 2020. Accessed via https://www.aig.com/investor-relations/annual-reports-and-proxy-statements on October 7, 2021