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World's top 5 insurance companies
1. World's Top 5 Insurance Companies
“I am prepared for the worst, but hope for the
best.” ~ Benjamin Disraeli
Insurance helps us to do exactly what this quote
suggests. We all face many kinds of risks: risk of
meeting with an accident, falling sick, being a
victim of a natural disaster or fire, and above all
risk of life. All these risks not only come with
pain and suffering but also hurt financially.
Insurance is one way of being prepared for the
worst
2. 1) AXA
With over 102 million customers in 56 countries
and an employee base of 157,000, AXA is one of
the world's leading insurance groups. Its main
businesses are property and casualty
insurance, life insurance, saving and asset
management. Its origin goes back to 1817 when
several insurance companies merged to create
AXA. The company is headquartered in Paris
and has a presence across Africa, North America,
Central and South America, Asia Pacific, Europe
and the Middle East.
3. 1) AXA
In 2013, AXA as a move to increase its foothold in
Latin America acquired 51% of the insurance
operations of Colpatria Seguros in Colombia.
During the same year, AXA became the largest
international insurer operating in China as a
result of its 50% acquisition of Tian Ping (a
Chinese property and casualty insurer). In
addition, the company acquired the non-life
insurance operations of HSBC in Mexico. The
AXA Group reported total revenues of €99 billion
for fiscal year 2015
4. 2) Zurich Insurance Group
Zurich Insurance Group, a Switzerland-headquartered
global insurance company, was founded in 1872. Zurich
Group, together with its subsidiaries, operates in more
than 170 countries, providing insurance products and
services. The core businesses of Zurich include general
insurance, global life and farmers insurance. With its
employee strength of over 55,000, Zurich caters to the
vast insurance needs of individuals and businesses of all
sizes: small, mid-sized and large-sized companies and
even multinational corporations. Total revenues in 2015
were $60.568 billion.
5. 3) China Life Insurance
China Life Insurance (Group) Company (LFC) is
one of Mainland China’s largest state-owned
insurance and financial services companies, as
well as a key player in the Chinese capital market
as an institutional investor. The origin of the
company goes back to 1949 when the People's
Insurance Company of China (PICC) was
formed. Its offshoot PICC (Life) Co. Ltd was
created after parting ways with PICC in 1996.
PICC (Life) Co. Ltd was renamed as China Life
Insurance Company in 1999.
6. 3) China Life Insurance
PICC (Life) Co. Ltd was renamed as China Life
Insurance Company in 1999. The China Life
Insurance Company was restructured in 2003 as
China Life Insurance (Group) Company, which has
seven subsidiaries. The businesses are spread across
life insurance, pension plans, asset management,
property and casualty, investment holdings and
overseas operations.
7. 4) Berkshire Hathaway
Berkshire Hathaway Inc. (BRK.A) was founded in
1889 and is associated with Warren Buffet, who
has transformed a mediocre entity into one of the
largest companies in the world. Berkshire
Hathaway is now a leading investment manager
conglomerate, engaging in insurance, among
other sectors such as rail transportation, finance,
utilities and energy, manufacturing, services and
retailing through its subsidiaries.
8. 4) Berkshire Hathaway
It provides primary insurance, as well as
reinsurance of property and casualty risks.
Companies like Berkshire Hathaway
Reinsurance Group, GEICO, Berkshire
Hathaway Primary Group, and General Re,
National Indemnity Company, Medical
Protective Company, Applied Underwriters, U.S.
Liability Insurance Company, Central States
Indemnity Company and the Guard Insurance
Group are subsidiaries of the group.
9. 5) Prudential plc
Prudential plc (PUK) is an insurance and financial
services brand with operations catering to 24
million customers across Asia, the U.S., the U.K
and most recently Africa. Prudential was
founded in United Kingdom in 1848. Prudential
Corporation Asia, Prudential U.K., Jackson
National Life Insurance Company and M&G
Investments are the main businesses within the
group.
10. 5) Prudential plc
Jackson is a prominent insurance company in the
United States, while Prudential U.K. is one of the
leading providers of pension and life.
Prudential plc is listed on the stock exchanges of
London, Hong Kong, Singapore and New York. It has
approximately 22,308 employees worldwide, with
assets under management worth £509 billion.