10 The World’s Largest Insurance Companies By Net Income

10 The World's Largest Insurance Companies By Net Income

Jsmalfamart.com~ The largest insurance company in the world is usually seen from the total net profit owned. Well, for those of you who want to know who the big insurance companies are, here’s the answer.

Insurance companies are one of the promising fields of business today.

This is because public awareness of their diverse needs is the main factor that financial products are increasingly popular.

Although not all insurance products are owned by the public, some of them such as health insurance, travel insurance, and vehicle insurance are still excellent.

All three insurance products are generally offered at once by an insurance company. The premium also varies, which must adjust to the financial condition of its customers.

Well, for those of you who want to buy an insurance policy or still want to know what are the largest insurance companies in the world with the best service, here CekAja summarizes the information specifically for you.

List of largest insurance companies in the world

1. Berkshire Hathaway

The first major insurance company in the world was Berkshire Hathaway.

Headquartered in Omaha, United States, the insurance company founded by Oliver Chace has a net profit of up to Rp 7,334 trillion.

The profit itself is obtained not only from insurance sales, but also investments made in various business lines such as transportation, property, to manufacturing.

2. Ping An Insurance

Engaged in the financial sector, this leading insurance company from China is also one of the largest insurance companies in the world.

In 2020, this insurance company successfully climbed to 21st place on Fortune’s Global 500 list.

Its success cannot be separated from the revenue achieved which reached USD184.2 million with a net profit of USD21. 6 million.

3. UnitedHealth Group

In addition to Ping An Insurance, this insurance company based in the United States also made it to the list of the largest insurance companies in the world. Estimated net profit reached Rp 3,156 trillion.

UnitedHealth Group Inc offers a full range of health insurance products, whether for individuals, retirees, seniors, families, Office employees, to military servicemen.

4. China Life Insurance

The largest life insurance company in the PRC, known to hold 45 percent of the country’s market with total assets of about $ 580.33 billion.

Its success in recording large assets, also made China Life [included in the Global 500 Fortune version, ranked 51.

5. Allianz

The largest insurance company in the world is Allianz Insurance. The company headquartered in Munich, Germany is already well known in various countries, including Indonesia.

In Indonesia alone, the total net profit earned by PT Asuransi Allianz Life is worth Rp1.17 trillion.

Its profit value rose by 48.66 percent year on year, which was also supported by investment income of Rp2.48 trillion.

6. AIA Financial

Turning to Allianz, the next to be included in the list of the largest insurance companies in the world is AIA Financial.

Established in 1919, the insurance company, which also operates in Indonesia, was first established in Singapore and headquartered in Hong Kong until now.

Based on Kontan’s financial statements, AIA Financial’s net profit rose by Rp763 billion compared to the same period last year, which was only Rp262 billion.

7. AXA

AXA S.A which is also known as one of the largest insurance companies in the world. Founded in 1816, the French-based global insurance company has a net profit of around 1.4 billion euros.

However, the profit obtained in fact experienced a drastic decrease of up to 39 percent due to a decrease in assets and claims related to the corona virus.

That way, it will re-Divisi the company’s growth target while canceling the distribution of dividends to each shareholder.

8. Prudential Plc

Prudential Plc is a financial services company based in London. In 2020, the company was able to book a net profit of around USD2.18 billion.

In Indonesia, Prudential under the company name PT Prudential Life Assurance managed to record assets of IDR 65.3 trillion as of the first quarter of 2020.

9. Anthem, Inc

One of the largest insurance companies in the world, Anthem Incorporated is a company that continues to show an increase in Net Profit.

In 2020, this insurance company from the United States, experienced an increase in revenue of 13.1 percent. Where, the value became USD104.21 billion with an estimated net profit of around USD4. 80 billion.

10. Cigna

As the world’s largest insurance company, Cigna Insurance in the past year seems to harvest cuan abundant with a total net profit of USD5.1 million.

In fact, the company’s profit rose by 94 percent, and Cigna Insurance entered the Fortune Global 500 version with an upward position of 197 rankings.

In addition to excelling with its health insurance products, Cigna also offers life insurance, accidents, to disability and dental insurance.

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