-

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

AM Best


Release Versions
Hashtags

Contacts

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

Social Media Profiles
More News From AM Best

Best’s Special Report: AM Best Issues FAQ on Rating Captives and Other Alternative Risk Transfer Entities

OLDWICK, N.J.--(BUSINESS WIRE)--A new Best’s Special Report addresses frequently asked questions (FAQ) about AM Best’s treatment of cell captive insurance companies and other alternative risk transfer (ART) entities within the framework of its Best’s Credit Rating Methodology.The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the o...

AM Best Affirms Credit Ratings of Marble Reinsurance Corporation

HONG KONG--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Marble Reinsurance Corporation (Marble Re) (Micronesia). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Marble Re’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The balance sheet stre...

AM Best Affirms Credit Ratings of General Reinsurance Corporation and Its Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of General Reinsurance Corporation (headquartered in Stamford, CT) and its core property/casualty (P/C) and life (re)insurance subsidiaries operating in the United States and internationally. These companies collectively are known as General Re Group (Gen Re). (Please see below for a detailed listing of these compan...
Back to Newsroom