By Favour Nnabugwu
AM Best released the list of the world’s 25 largest insurance companies by net written premiums and non-bank assets in 2021 as Allianz made the top list with $1.2billion.
The ranking by non-banking assets makes Allianz the world’s first insurance company (1.2 billion USD). Berkshire Hathaway and Prudential Financial complete the podium.
UnitedHealth Group has kept the lead in the top 25 insurers by net written premium for the eighth consecutive year. In 2021, UnitedHealth Group’s net premium volume totaled 226.2 billion USD. Ranked second and third are Centene Corporation and Elevance Health.
AM Best released the rankings of the world’s largest global insurance companies, by NPW and nonbanking assets, in the Jan. 6, 2023, issue of Best’s News. The two rankings are based on BestLink data and additional research.
Overall, the two rankings saw some reshuffling in the top spots, with U.S.-based health insurers further strengthening their leading positions. Centene Corp. and Elevance Health Inc. (formerly Anthem Inc.) advanced two places in the NPW ranking to come in at second and third.
These gains came at the expense of two Chinese insurers — China Life Insurance (Group) Co. Ltd. and Ping An Insurance (Group) Co. of China Ltd. Both Chinese insurers remained in the top five but China Life fell one slot to No. 4 and Ping An fell to No. 5 from No. 2