-

UnitedHealth Group and Allianz Retain Top Spots in AM Best’s World’s Largest Insurer Ranking

OLDWICK, N.J.--(BUSINESS WIRE)--UnitedHealth Group Incorporated occupied the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for a seventh straight year, with $201.5 billion in net premiums written (NPW) in 2020. In addition, Allianz SE and AXA S.A. occupied the No. 1 and No. 2 spots, respectively, in AM Best’s ranking by 2020 non-banking assets.

AM Best released the rankings of the world’s largest global insurance companies, by NPW and non-banking assets, in the Jan. 3, 2022, issue of BestWeek. The two rankings are based on BestLink data and additional research. Overall, two major Chinese insurers saw big gains in the ranking by assets, with Ping An Insurance (Group) Company of China Ltd. and China Life Insurance (Group) Co. Ltd. improving on their Top 10 rankings from a year ago.

U.S. health insurers dominated the ranking by NPW, as membership gains in government programs played a heavy role in creating premium growth at these companies. In particular, Centene Corp. rose to fourth place from 10th as its NPW grew year over year by nearly 50%, boosted by its acquisition of WellCare Health Plans in early 2020. Additionally, three other U.S.-based health insurers also saw double-digit NPW growth.

The top 10 global insurers ranked by 2020 NPW are as follows:

  1. UnitedHealth Group Incorporated, United States
  2. Ping An Insurance (Group) Company of China Ltd., China
  3. China Life Insurance (Group) Company, China
  4. Centene Corporation, United States
  5. Anthem, Inc., United States
  6. Kaiser Foundation Group of Health Plans, United States
  7. AXA S.A., France
  8. Allianz SE, Germany
  9. People’s Insurance Company (Group) of China Ltd., China
  10. Assicurazioni Generali S.p.A., Italy

The top 10 global insurers ranked by 2020 non-banking assets are as follows:

  1. Allianz SE, Germany
  2. AXA S.A., France
  3. Prudential Financial Inc., United States
  4. Ping An Insurance (Group) Company of China Ltd., China
  5. Berkshire Hathaway Inc., United States
  6. MetLife Inc., United States
  7. Nippon Life Insurance Company, Japan
  8. China Life Insurance (Group) Company, China
  9. Legal & General Group plc, United Kingdom
  10. Manulife Financial Corporation, Canada

BestWeek is published weekly by AM Best for insurance professionals, and is available as part of a subscription to the Best’s News & Research service. More information about the Best’s News & Research subscription service is available at http://www.ambest.com/sales/insurancenewsandresearch.asp, or by contacting AM Best Customer Service at +1 908 439 2200, ext. 5742, or +1 800 424 2378 when calling from the United States and Canada.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Company, Inc. and/or its affiliates.

ALL RIGHTS RESERVED.

Contacts

Patricia Vowinkel
Executive Editor, BestWeek
+1 908 439 2200, ext. 5540
patricia.vowinkel@ambest.com

Industry:

AM Best

Release Versions
English
Hashtags
#insurance

Contacts

Patricia Vowinkel
Executive Editor, BestWeek
+1 908 439 2200, ext. 5540
patricia.vowinkel@ambest.com

Social Media Profiles
AM Best / LinkedIn
More News From AM Best

AM Best Assigns Credit Ratings to Aseguradora del Sur C.A.

MEXICO CITY--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) to Aseguradora del Sur C.A. (Asur) (Quito, Ecuador). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Asur’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). Asur is an Ecuadorian...

Best’s Market Segment Report: AM Best Maintains Stable Outlook on UK Life Insurance Segment

LONDON--(BUSINESS WIRE)--AM Best has maintained its stable outlook on the United Kingdom’s life insurance segment, reflecting in part the continued strength of the U.K. pension risk transfer market, with small to medium-sized deals being the backbone of the industry, as well as solid interest rates that support investment income. In its new Best’s Market Segment Report, “Market Segment Outlook: United Kingdom Life Insurance”, AM Best notes that the Pension Schemes Act, which received Royal Asse...

Best’s Commentary: Insurers Better Prepared for Rare Disease Outbreak Amid Lessons From COVID-19

OLDWICK, N.J.--(BUSINESS WIRE)--Outbreaks of the Ebola virus and Andes hantavirus are putting a renewed focus on the insurance implications of rare communicable disease spreads and the need for proactive risk management, according to a new AM Best commentary. The Best’s Commentary, “Insurers Better Prepared For Rare Disease Outbreak Amid Lessons From COVID-19,” notes that health experts have said neither virus poses an immediate global threat nor is expected to spread anywhere near the scale of...
Back to Newsroom