Insurance is one of the biggest financial services and the biggest insurance companies in the world are at the top of their game! We all need insurance in some point of our lives. Insurance, to live a happy and healthy life without worries of the future gnawing at us! And, these companies provide the much-needed assurance of solace from those never-ending worries and stress.
So what is insurance? Simply put, it is the process of transferring risk in exchange for payment. The insurer charges a fee from the insured, who in turn gets compensated for their losses if and when they occur. And, contrary to popular belief it is definitely not a new concept. It has always been around in some form. However, it is in the modern times that the concept has evolved and diversified and big firms have come into play. Now you can get covers for life risk or accident risk, along with the risk involved in a business that could cause severe implications to your wealth.
To ensure the future prosperity of families, life insurances have become the norm these days. And, companies are coming up with more personalized policies to suit individual needs and preferences. Newlyweds and new house owners, looking to start a family should definitely be surveying the best and the biggest insurance companies in the world and choose suitable policies for themselves and can also take a look at our other list 11 Biggest Construction Companies in the World.
The top insurance companies can be ranked according to a number of factors like market capitalization, revenue, profit, etc. However, our list is based on the total assets they own. Needless to say, most of the companies own assets that run into hundreds of billion dollars and which is why they are the biggest and the most powerful among their counterparts. Here, check out the list!