BRK.B, PNGAY, and ALIZY lead the 10 biggest insurance companies list
Insurance companies provide risk management to individuals, businesses, and institutional clients. Although there are a multitude of different types , the protection guarantees payment or reimbursement in the event of losses for the insured.
Insurance companies offer policies offering coverage for losses related to accidents, health, property, homeownership, professional liability and casualty, among other areas.
These are the 10 biggest insurance companies by revenue as of Dec. 22, 2022. This list is limited to companies that are publicly traded in the U.S. or Canada, either directly or through ADRs.
1 Berkshire Hathaway
- Revenue: $253.9 billion
- Net Income: -$1.3 billion
- Exchange: New York Stock Exchange
is a major conglomerate and one of the nation’s premier insurance companies, with additional holdings in sectors such as rail transportation, utilities and energy, manufacturing, services, and retailing.1
Berkshire provides primary insurance, as well as reinsurance of property and casualty risks through companies such as GEICO, Berkshire Hathaway GUARD Insurance Companies, Gateway Underwriters Agency, General Re, and National Indemnity Company.
2 Ping An Insurance (Group) Co. of China Ltd. (PNGAY)
- Revenue: $156.2 billion
- Net Income: $14.7 billion
- Market Cap: $114.8 billion
- 1-Year Trailing Total Return: -7.5%
- Exchange: OTC Markets
Ping An Insurance provides insurance, financial services, and banking. It is one of the top 50 companies listed on the.
Founded in 1988, it was China’s first joint-stock insurance company.4 Its subsidiaries include Ping An Life, Ping An Property & Casualty, Ping An Annuity, and Ping An Health.5
3 Allianz SE (ALIZY)
- Revenue: $137.4 billion
- Net Income: $7.8 billion
- Market Cap: $85.3 billion
- 1-Year Trailing Total Return: -1.85%
- Exchange: OTC Markets
Allianz is a leading global financial services company, providing products and services from insurance to asset management. It offers insurance products ranging from property and casualty policies to health and life insurance for corporate and individual customers. The company is headquartered in Germany.6
4 AXA SA (AXAHY)
- Revenue: $107.6 billion
- Net Income: $8.2 billion
- Market Cap: $64.6 billion
- 1-Year Trailing Total Return: 5.8%
- Exchange: OTC Markets
AXA is one of the world’s leading insurance groups with major businesses in property and casualty insurance, life insurance, savings. Several insurance companies merged to create AXA in the 1990s.7
5 MetLife Inc (MET)
- Revenue: $71.6 billion
- Net Income: $2.4 billion
- Market Cap: $56.3 billion
- 1-Year Trailing Total Return: 26.2%
- Exchange: New York Stock Exchange
MetLife, Inc. is a leading global provider of insurance, annuities, and employee benefit programs. With its many subsidiaries and affiliates, MetLife holds market positions in the United States, Japan, Latin America, Asia, Europe, the Middle East, and Africa.8
6 Prudential PLC (PUK)
- Revenue: $63.5 billion
- Net Income: 328 million
- Market Cap: $36.2 billion
- 1-Year Trailing Total Return: 1.2%
- Exchange: New York Stock Exchange
Prudential PLC is a London-based insurance and investment services company offering products ranging from life, health, accident, property, and casualty policies to pensions, equity plans, mortgages, and other financial services. Prudential also caters to customers in all major global markets.9
7 American International Group Inc. (AIG)
- Revenue: $59 billion
- Net Income: $13.8 billion
- Market Cap: $46.7 billion
- 1-Year Trailing Total Return: 21.4%
- Exchange: New York Stock Exchange
American International Group, Inc. (AIG) is a leading global insurance organization providing a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 70 countries.10
8 Allstate Corp. (ALL)
- Revenue: $52.6 billion
- Net Income: -$210 million
- Market Cap: $35.5 billion
- 1-Year Trailing Total Return: 22.2%
- Exchange: New York Stock Exchange
Allstate Corp. is a leader in personal property and casualty products such as auto, home, and life insurance. In 2020, Allstate delivered on its “You’re in good hands®” motto through the Shelter-in-Place Payback, which gave almost $1 billion back to auto customers over three months.11
9 Progressive Corp. (PGR)
- Revenue: $47.7 billion
- Net Income: $852 million
- Market Cap: $74.4 billion
- 1-Year Trailing Total Return: 25.7%
- Exchange: New York Stock Exchange
Progressive Corp. was founded in 1937 and is a leader in the auto and homeowners insurance industry. The company also offers financial services and both commercial and personal insurance products with bundling options.12
10 Chubb Ltd. (CB)
- Revenue: $42.1 billion
- Net Income: $6.1 billion
- Market Cap: $89.1 billion
- 1-Year Trailing Total Return: 17.5%
- Exchange: New York Stock Exchange
Chubb Ltd. is a publicly traded property and casualty insurance company and the leading commercial lines insurer in the U.S. with operations in 54 countries and territories. Chubb products include commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance.