Biggest 50 insurance companies worldwide May 2023, by market cap
UnitedHealth was to be the largest insurer globally as of May 2023, with market capitalization amounting to approximately 458 billion U.S. dollars. UnitedHealth Group is a healthcare and insurance company headquartered in Minnesota.
Global insurance industry - additional information
Insurance is a form of risk management, where a person, called the insured or policy holder, signs a contract with a company, which is called insurer or insurance carrier, in order to protect themselves from sudden losses. The contract between the two parties, called an insurance policy, states the circumstances and conditions under which the insured will be compensated. The major types of insurance are: life/health insurance and property/casualty insurance. The amount of money charged by an insurance company for active coverage is called an insurance premium and is most often paid in monthly installments.
In 2019, the value of gross premiums generated by the global insurance industry amounted to more than five trillion U.S. dollars. The United States is the leading country on the insurance market in terms of value of life and non-life direct premiums written, with premiums estimated at 2.5 trillion U.S. dollars for 2020.
When ranking global insurers by their total assets, the Chinese insurance company Ping An Insurance placed first, with assets worth approximately 1.25 trillion U.S. dollars. Ping An Insurance was also the company with the strongest brand value among insurance companies in 2021.
Global insurance industry - additional information
Insurance is a form of risk management, where a person, called the insured or policy holder, signs a contract with a company, which is called insurer or insurance carrier, in order to protect themselves from sudden losses. The contract between the two parties, called an insurance policy, states the circumstances and conditions under which the insured will be compensated. The major types of insurance are: life/health insurance and property/casualty insurance. The amount of money charged by an insurance company for active coverage is called an insurance premium and is most often paid in monthly installments.
In 2019, the value of gross premiums generated by the global insurance industry amounted to more than five trillion U.S. dollars. The United States is the leading country on the insurance market in terms of value of life and non-life direct premiums written, with premiums estimated at 2.5 trillion U.S. dollars for 2020.
When ranking global insurers by their total assets, the Chinese insurance company Ping An Insurance placed first, with assets worth approximately 1.25 trillion U.S. dollars. Ping An Insurance was also the company with the strongest brand value among insurance companies in 2021.
