Allianz was the largest life insurance company worldwide by market capitalization as of December 2023. AIA was the second largest life insurer globally, with market capitalization amounting to 93.1 billion U.S. dollars.
In the United States, MetLife is consistently the largest life insurer, followed by AIG, Prudential Financial, and Aflac. On many accounts both New York Life and Northwestern Mutual are larger life insurance providers than MetLife and Aflac, however they cannot be included on this list as they are private companies and therefore do not have a market capitalization.
How much larger is the U.S. life insurance market compared with other leading markets?
The life insurance market in United States is more than twice as large as the next largest market in terms of life insurance premiums written. Other leading world countries in terms of value of life insurance premiums written were Japan, Germany, China, and the United Kingdom. However, the gap between the U.S. and the other large insurance markets is even starker when non-life premiums are taken into account.
FAQs
Allianz was the largest life insurance company worldwide by market capitalization as of December 2023. AIA was the second largest life insurer globally, with market capitalization amounting to 93.1 billion U.S. dollars.
What is the world's largest life insurance company 2023? ›
Allianz SE, China Life Insurance Co. Ltd. and Nippon Life Insurance Co. are the three largest life insurance companies in the world, according to a new ranking by S&P Global Market Intelligence.
Who is the top five life insurance company? ›
Top life insurance companies
| Company | Best for | AM Best Financial Strength Rating |
|---|
| Nationwide | Customer satisfaction | A (Excellent) |
| Northwestern Mutual | Universal life insurance | A++ (Superior) |
| Prudential | Policy personalization | A+ (Superior) |
| State Farm | Term life insurance | A++ (Superior) |
3 more rowsLife Insurance Corporation Of India
The company has the highest market share of life insurance companies in India 2024. It has a diversified product portfolio covering various segments across individual products and group products.
What is the richest insurance company in the United States? ›
Berkshire Hathaway was the largest insurance company in the United States in 2022, with total assets amounting to almost 950 billion U.S. dollars. Prudential Financial and Metlife secured second and third place, respectively.
Who is the largest life insurer in the world? ›
Largest life insurance companies globally December 2023, by market capitalization. Allianz was the largest life insurance company worldwide by market capitalization as of December 2023. AIA was the second largest life insurer globally, with market capitalization amounting to 93.1 billion U.S. dollars.
What company sells the most life insurance? ›
New York Life Group, Northwestern Mutual Group, and Metropolitan Group topped the list of largest companies in terms of direct premiums written, according to the 2023 Life and Fraternal Insurance Industry Report from the National Association of Insurance Commissioners (NAIC).
Who is the largest life insurance company in North America? ›
What are the 5 largest insurance companies? ›
- #1: United Health Group (UNH)
- #2: Berkshire Hathaway Inc. ( BRK.B)
- #3: CVS Health Corp Group (CVS)
- #4: The Cigna Group (CI)
- #5: Elevance Health Inc. ( ELV)
- #6: Centene (CNC)
- #7: Ping An Insurance (PNGAY)
- #8: Allianz (ALIZY)
- State Farm. With the largest market share of any car insurer in the U.S., State Farm makes up 16.8% of total auto policies sold. ...
- Progressive. ...
- Geico. ...
- Allstate. ...
- USAA. ...
- Liberty Mutual. ...
- Farmers Insurance. ...
- Travelers.
Term life insurance is a popular choice for most people because it's affordable, only lasts for as long as you need it, and doesn't come with many tax rules or restrictions.
Who has the most expensive life insurance policy in the world? ›
The world's most valuable life insurance policy has been taken out by an individual customer of HSBC Life in Hong Kong. Worth $250 mn, the whole-of-life protection policy will pay out the record-breaking sum to the anonymous person's named beneficiary after their death.
What is America's largest insurance company? ›
Who is the highest paid life insurance agent in the US? ›
What are Top 10 Highest Paying Cities for Life Insurance Agent Jobs
| City | Annual Salary | Monthly Pay |
|---|
| Scotts Valley, CA | $122,497 | $10,208 |
| San Francisco, CA | $109,916 | $9,159 |
| Beverly Hills, CA | $108,385 | $9,032 |
| San Jose, CA | $106,281 | $8,856 |
6 more rows1. State Farm. State Farm is the largest car insurance provider in the US, accounting for almost 17% of the overall market.
What is the oldest life insurance company in the United States? ›
1752 The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, the oldest insurance carrier in continuous operation in the United States, was established. 1759 Presbyterian Ministers Fund, the first life insurance company in the United States, was founded.
What is the world record life insurance? ›
The world's most valuable life insurance policy has been taken out by an individual customer of HSBC Life in Hong Kong. Worth $250 million (£197 million), the whole-of-life protection policy will pay out the record-breaking sum to the anonymous person's named beneficiary after their death.
Who bought MetLife life insurance? ›
MetLife is owned by its shareholders, as it is a publicly traded company. The biggest shareholders are BlackRock, Dodge & Cox, and The Vanguard Group, which have a combined ownership stake of almost 20%, as of Q3 2021, according to public filings.
Where does Globe Life rank? ›
Overall, Globe Life ranked in ninth place in our Best Life Insurance Company rankings, receiving 2.1 out of 5 stars. The insurer also enjoys generally strong third-party ratings, including an A rating from AM Best for financial stability.
