Top 20 Biggest Insurance Companies in The World

Top 20 Biggest Insurance Companies in The World

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.

20 Biggest Insurance Companies in The World - The Top 20

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

RankName of CompanyRevenueRevenueNet IncomeNet Income
Origin CurrencyUS Dollar Origin CurrencyUS Dollar
1Ping An Insurance1,321 billion RMB211 billion US Dollar 159.35 billion RMB25.49 billion US Dollar
2Allianz SE119 billion Euro 138 billion US Dollar7.13 billion Euro 8.27 billion US Dollar
3China Life insurance804 billion RMB 128 billion US Dollar 51.38 billion RMB8.22 billion US Dollar
4Metife Inc67 billion US Dollar 67 billion US Dollar 5.41 billion US Dollar 5.41 billion US Dollar
5Manulife Financial Insurance78 Biilion Canadian Dollar 63 billion US Dollar 5.57 billion Canadian Dollar4.45 billion US Dollar
6Aviva Plc29 billion Poundsterling 39 billion US Dollar2.91 billion Poundsterling 3.95 billion US Dollar
7Zurich Insurance Group59 billion US Dollar 59 billion US Dollar 3.83 billion US Dollar 3.83 billion US Dollar
8AXA S.A96 billion Euro 112 billion US Dollar3.16 billion Euro 3.66 billion US Dollar
9Dai-Chi Life Holdings7,827 billion Yen 70 billion US Dollar 363.77 billion yen 3.27 billion US Dollar
10Assicurazioni Generali85 billion Euro 98 billion US Dollar2.75 billion Euro 3.19 billion US Dollar
11Prudential Financial Inc55 billion US Dollar 55 billion US Dollar 2.18 billion US Dollar 2.19 billion US Dollar
12Legal & Genenal Group Pc50 billion Poundsterling68 billion US Dollar 1.57 Billion Poundsterling2.13 billion US Dollar
13Nippon Life Insurance5,719 billion Yen 51 billion US Dollar 182.75 billion Yen 1.64 billion US Dollar
14CNP Assurances3,459 billion Euro 4 billion US Dollar1.35 billion Euro 1.56 billion US Dollar
15Ney York Insurance Company32 billion US Dollar 32 billion US Dollar 1.50 billion US Dollar 1.50 billion US Dollar
16Japan Post Insurance6,786 billion Yen 61 billion US Dollar 166.10 billion Yen 1.49 billion US Dollar
17Credit Agricolae Assurances2 billion Euro 2 billion US Dollar1.28 Billion Euro1.48 Billion US Dollar
18Sumitomo Life Insurance 28 billion US Dollar 28 billion US Dollar 0.49 billion US Dollar 0.49 billion US Dollar
19Aegon N.V0.012 billion Euro 0.013 billion US Dollar 0.045 billion Euro 0.05 billion US Dollar
20Meiji Yasuda Life Insurance 207 billion Yen 1 billion US Dollar (-264.42 billion Yen)(-2.37 billion US Dollar)
21American International Grup43 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 CompanyAssetsAssetsLiabilities Liabilities
Origin CurrencyUS Dollar Origin CurrencyUS Dollar
Allianz SE1,060 billion Euro 1,229 billion US Dollar 975 billion Euro 1,131 billion US Dollar
Prudential Financial Inc516 billion US Dollar 516 billion US Dollar 493 billion Dollar 493 billion Dollar
AXA S.A804 billion Euro 933 billion US Dollar 728 billion Euro 844 billion US Dollar
Nippon Life Insurance80,081 billion Yen 720 billion US Dollar 73,923 billion Yen 665 billion US Dollar
Metife Inc795 billion US Dollar 795 billion US Dollar 720 billion US Dollar 720 billion US Dollar
Lega & Genenal Group Pc570 billion Poundsterling775 billion US Dollar 560 billion Poundsterling762 billion US Dollar
Ping An Insurance9,527 billion RMB1,524 billion US Dollar 8,539 billion RMB1,366 billion US Dollar
Japan Post Insurance70,172 billion Yen 631 billion US Dollar 67,331 billion Yen 605 billion US Dollar
China Life insurance4,252 billion RMB 680 billion US Dollar3,795 billion RMB607 billion US dollar
Manuife Financial Insurance 880 billion Canadian Dollar 704 billion US Dollar 827 billion Canadian Dollar 661 billion US Dollar
Aviva Plc479 billion Poundsterling 652 billion US Dollar 459 billion Poundsterling 624 billion US Dollar
Assicurazioni Generali544 billion Euro 631 billion US Dollar512 billion Euro 594 billion US Dollar
Dai-Chi Life Holdings63,593 billion Yen 572 billion US Dollar 58,786 billion Yen 529 billion US Dollar
American International Group586 billion US Dollar 586 billion US Dollar 519 billion US Dollar 519 billion US Dollar
Aegon N.V28 Milion Euro 32 billion US Dollar 3 billion Euro 3.5 billion US Dollar
CNP Assurances442 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 Group439 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 Company414 billion US Dollar 414 billion US Dollar 359 billion US DOllar359 billion US DOllar
Sumitomo Life Insurance 319 billion US Dollar319 billion US Dollar300 billion US Dollar300 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


20 Biggest Insurance Companies in The World- Brief-description

1.Ping an insurance

20 Biggest Insurance Companies in The World - Ping An

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

20 Biggest Insurance Companies in The World- Allianz

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

20 Biggest Insurance Companies in The World - 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

20 Biggest Insurance Companies in The World - MetLife

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

20 Biggest Insurance Companies in The World - Manulife

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

20 Biggest Insurance Companies in The World- Aviva

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 

20 Biggest Insurance Companies in The World - Zurich

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

20 Biggest Insurance Companies in The World- AXA

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

20 Biggest Insurance Companies in The World - Daichi-Life

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

20 Biggest Insurance Companies in The World - 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

20 Biggest Insurance Companies in The World - Prudential

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://www.legalandgeneralgroup.com/investors/results-reports-and-presentations/?categoryId=2182&year=0  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

Credit Agricolae Assurances.2021. Annual Report 2020. Accessed via https://www.credit-agricole.com/finance/finance/informations-financieres   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/annual-reports/index.html  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

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