Top 10 Insurance Companies in World
Top Insurance Companies in WorldFinancial turbulence of 2009 caused many ups and downs in insurance industry. It was not easy to sustain the kind of growth these companies were enjoying prior to recession. But insurance is after all an issue of trust. We all want to invest in a company that stands by us in hard times. Investing in a finance company that has a good brand value and big market share invokes a sense of security in our hearts. Hence, it is always good to know who are the world leaders in the field.
Following is the list of top ten insurance companies according to their market share.
1. American International Group (AIG)
Country: United States
Market Value: $172.24 billion
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Paris and Tokyo.
2. AXA Group
Country: France
Market Value: $66.12 billion
In 1980, AXA did not exist. Over the next 20 years, the Group would grow to become a major international player.AXA pursues successfully its external growth strategy: consolidation of AXA existing activities, with the acquisition of Oyak's 50% stake in AXA Oyak, 2nd Turkish insurer, for 525 million dollars, and penetration of high growth potential markets, with the acquisition of 100% of the 3rd Mexican insurer, ING Seguros (for an amount of 1.5 billion dollars). Today AXA is present in geographically diverse markets, with operations concentrated in Europe, North America and Asia Pacific.
3. Allianz Worldwide
Country: Germany
Market Value: $65.55 billion
The Allianz Group is one of the leading integrated financial services providers worldwide. With nearly 155,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence.
4. Manulife Financial
Country: Canada
Market Value: $50.52 billion
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories world-wide. We provide financial protection and wealth management products and services, to individual and group customers in Canada, the United States and Asia. These products and services include individual life insurance, group life and health insurance, long-term care services, pension products, annuities, mutual funds and banking products. We offer reinsurance services, specializing in life retrocession and property and casualty reinsurance and provide investment management services with respect to the Company’s general fund and segregated fund assets and to mutual funds and institutional customers.
5. Generali Group
Country: Italy
Market Value: $45.45 billion
The Generali Group is one of the most significant participants in the global insurance and financial products market. The Group is leader in Italy and Assicurazioni Generali, founded in 1831 in Trieste, is the Group's Parent and principal operating Company.
In recent years, the Group has made a significant return to central-eastern European markets and has set up offices in the principal markets of the Far East, among which China and India.
6. Prudential Financial
Country: United States
Market Value: $39.70 billion
Prudential Financial, Inc (NYSE:PRU), a financial services leader with approximately $580 billion of Assets Under Management as of June 30, 2009, has operations in the United States, Asia, Europe and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping approximately 50 million individual and institutional customers grow and protect their wealth.
7. MetLife
Country: United States
Market Value: $37.94 billion
MetLife, Inc. is a leading provider of insurance and other financial services to millions of individual and institutional customers throughout the United States. Outside the U.S., MetLife companies have direct insurance operations in Asia Pacific, Latin America and Europe.
8. Aviva
Country: United Kingdom
Market value: $33.10 billion
Aviva is one of the leading providers of life and pension products in Europe and are actively growing our long-term savings businesses in Asia Pacific and the USA. Their main activities are long-term savings, fund management and general insurance
9. Munich Re Group
Country: Germany
Market Value: $30.99 billion
The Munich Re Group is one of the world’s leading risk carriers. It's business covers the whole value chain in insurance and reinsurance.
10. AEGON
Counry: Netherlands
Market Value: $26.40 billion
AEGON is an international business, providing life insurance, pensions and other long-term savings and investment products to millions of customers around the world. The company has major operations in the United States, the Netherlands and the United Kingdom as well as other businesses in Asia, the Americas and elsewhere in Europe. AEGON is listed on the stock exchanges of Amsterdam, London, New York and Tokyo.
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