25 Largest Insurance Companies in the World in 2024

Published on March 21, 2024 at 8:02 pm by Ali Ahmed in Business, Industries, Lists, News

In this article, we will cover the 25 largest insurance companies in the world in 2024. If you want to skip our detailed analysis of the insurance industry, you can go directly to 5 Largest Insurance Companies in the World in 2024.

Insights into the Global Insurance Market

The insurance sector plays a crucial role in providing financial protection against risks, uncertainties, and unforeseen events for a diverse range of clients, including individuals and businesses. According to a report by The Business Research Company, the global insurance market was estimated to have reached a value of $7.26 trillion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2028 to reach a value of $10.28 trillion by the end of the forecast period. In 2023, the North American region dominated the market while Asia-Pacific was the second-largest region, by market share, of the global insurance market.

There is a growing awareness of the importance of financial security as more people understand the risks associated with life events, property damage, and health issues. This is driving the demand for insurance products and services. Insurance businesses and corporations are increasingly shifting towards more customer-centric business models, focusing on enhancing customer experience and engagement. Insurance providers are offering comprehensive coverage, innovative policies, and exclusive discounts. The adoption of new and innovative technologies and InsurTech, especially in areas like auto, home ownership, and cyber insurance, is further augmenting market growth.

What are Some of the Biggest Insurance Companies Up To?

The insurance industry includes various types of players operating in different segments. Some of the most notable names in the global insurance market are Elevance Health Inc. (NYSE:ELV), UnitedHealth Group Inc. (NYSE:UNH), and The Progressive Corporation (NYSE:PGR).

The Progressive Corporation (NYSE:PGR) provides insurance for personal and commercial automobiles and trucks, recreational vehicles, motorcycles, boats, and homes. It is one of the best auto insurance companies and it also ranks high among the most valuable insurance companies in the US. On January 24, The Progressive Corporation (NYSE:PGR) reported strong earnings for the fiscal fourth quarter of 2023, reflecting strong demand for insurance products and services. The company reported earnings per share (EPS) of $2.97, surpassing EPS estimates by $0.55. The Progressive Corporation’s (NYSE:PGR) revenue for the quarter grew by 21.43% year-over-year and amounted to $15.13 billion.

The insurance industry is currently experiencing a significant shift towards digital transformation, with major insurance companies heavily investing in the development of innovative digital tools, products, and services. Elevance Health Inc. (NYSE:ELV) is one of the best health insurance companies heading into 2024. On January 10, Elevance Health Inc. (NYSE:ELV) announced that it will be launching a unique program offering free high-quality smartphones with unlimited data, talk, and texting services to eligible individuals enrolled in select affiliated Medicaid health plans. These smartphones will offer easy access to digital and virtual healthcare tools. This initiative aims to facilitate communication between individuals and their Medicaid health plan care team. Additionally, program participants will receive educational resources on using the device and access to a dedicated customer service call center for assistance when required.

UnitedHealth Group Inc. (NYSE:UNH) is one of the largest insurance companies in the US by market cap. On March 18, Reuters reported that UnitedHealth Group Inc. (NYSE:UNH) has provided more than $2 billion so far to support healthcare providers financially impacted following a cyberattack on the company’s technology unit, Change Healthcare. UnitedHealth Group Inc. (NYSE:UNH) has said that it will start rolling out its medical claims software to thousands of customers over the next several days. In response to the cyberattack that hit Change Healthcare on February 21, UnitedHealth Group Inc. (NYSE:UNH) has suspended certain paperwork requirements for insurance coverage approvals for outpatient services and inpatient admissions for government-backed Medicare Advantage plans to help those impacted. However, the company has restored payment processing and pharmacy network services and is actively working on restoring all services to ensure all customers are reconnected.

Now that we have discussed what’s going on in the insurance industry, let’s take a look at the 25 largest insurance companies in the world in 2024.

A business executive reviewing insurance policy documents with a customer.

Methodology

In this article, we have listed the 25 largest insurance companies in the world in 2024. To find the biggest insurance companies in the world, we sifted through various sources including industry reports, rankings available on various websites, and our own rankings, and consulted stock screeners from Yahoo Finance and Finviz. We compiled a list of the top insurance companies in the world. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 19, 2024. We used fiscal year revenues for private companies.. For foreign companies, we converted the market caps and revenues to US dollars according to their respective exchange rates. Finally, we narrowed down our selection to rank the 25 largest insurance companies in the world in 2024 based on their market capitalization and revenues, which are listed below in ascending order.

25 Largest Insurance Companies in the World in 2024

25. Travelers Companies Inc. (NYSE:TRV)

Market Capitalization: $51.23 Billion

Travelers Companies Inc. (NYSE:TRV), or simply Travelers, is an American insurance company that ranks among the largest insurance companies in the world in 2024. It is a major provider of property casualty insurance for auto, home, and business. The company offers a wide range of coverage sold mainly through independent agents and brokers. As of March 19, 2024, Travelers Companies Inc. (NYSE:TRV) has a market capitalization of $51.23 billion.

24. American International Group Inc. (NYSE:AIG)

Market Capitalization: $51.4 Billion

American International Group Inc. (NYSE:AIG) is an American multinational finance and insurance company. It offers a wide range of property casualty insurance and other financial services. As one of the top insurance companies in the world, American International Group Inc. (NYSE:AIG) has a market capitalization of $51.4 billion as of March 19, 2024.

23. Metlife Inc. (NYSE:MET)

Market Capitalization: $52.34 Billion

Metlife Inc. (NYSE:MET) is one of the world’s biggest providers of insurance, annuities, and employee benefit programs. It provides life, accident, and health insurance, as well as retirement and savings products and services. Metlife Inc. (NYSE:MET) has a market capitalization of $52.34 billion as of March 19, 2024.

22. Arthur J. Gallagher & Co. (NYSE:AJG)

Market Capitalization: $55.03 Billion

Arthur J. Gallagher & Co. (NYSE:AJG) is an American multinational insurance brokerage and risk management services firm. It is one of the world’s largest insurance brokers in the world and a leading property and casualty third-party claims administrator. Arthur J. Gallagher & Co. (NYSE:AJG) has a market capitalization of $55.03 billion as of March 19, 2024.

21. New York Life Insurance Company

Revenue: $58.44 Billion

New York Life Insurance Company, also known as NYLIC, is one of the largest life insurance and mutual life insurance companies in the US. It also provides insurance and investment products to the institutional market. In 2022, New York Life Insurance Company generated a revenue of $58.44 billion.

20. Nationwide Mutual Insurance Company

Revenue: $60.3 Billion

Nationwide Mutual Insurance Company, or simply Nationwide, is a group of US insurance and financial services companies that ranks among the top 20 on our list of the largest insurance companies in the world in 2024. It offers a full range of insurance financial services across the US, including car, motorcycle, homeowners, farm, pet, life, and commercial insurance. In 2023, Nationwide Mutual Insurance Company generated a revenue of $60.3 billion.

19. Tokio Marine Holdings Inc. (TYO:8766)

Market Capitalization: $60.7 Billion

Tokio Marine Holdings Inc. (TYO:8766) is a Japanese multinational insurance holding company. It is one of the largest property and casualty insurance groups and the parent company of the Tokio Marine Group. As of March 19, 2024, Tokio Marine Holdings Inc. (TYO:8766) has a market capitalization of $60.7 billion.

18. Aon plc (NYSE:AON)

Market Capitalization: $64 Billion

Aon plc (NYSE:AON) is a British-American multinational professional services firm that offers a broad range of risk, retirement, reinsurance, and health solutions. As one of the top insurance companies in the world, Aon plc (NYSE:AON) has a market capitalization of $64 billion as of March 19, 2024.

17. Life Insurance Corporation of India (NSE:LICI)

Market Capitalization: $66.47 Billion

Life Insurance Corporation of India (NSE:LICI), commonly known as LIC, is an Indian multinational life insurance company. As an Indian state-owned insurance group and investment company, it is India’s largest insurance company. Life Insurance Corporation of India (NSE:LICI) has a market capitalization of $66.47 billion as of March 19, 2024.

16. Munich Reinsurance Company (ETR:MUV2)

Market Capitalization: $67.14 Billion

Munich Reinsurance Company (ETR:MUV2), also known as Munich Re Group or Münchener Rückversicherungs-Gesellschaft, is a German multinational insurance company. The company offers primary insurance, reinsurance, and insurance-related risk solutions. It is one of the world’s largest reinsurers. Munich Reinsurance Company (ETR:MUV2) has a market capitalization of $67.14 billion as of March 19, 2024.

15. Nippon Life Insurance

Revenue: $71.21 Billion

Nippon Life Insurance Company, also known as Nissay, is a Japanese multinational life insurance company. The company operates life insurance and asset management businesses. In 2022, Nippon Life Insurance generated a revenue of $71.21 billion. It ranks among the top 15 on our list of the largest insurance companies in the world in 2024.

14. Zurich Insurance Group AG (SWX:ZURN)

Market Capitalization: $78.8 Billion

Zurich Insurance Group AG (SWX:ZURN) is a Swiss insurance company. Serving people and businesses in over 200 countries, it is one of the world’s largest multi-line insurers. Zurich Insurance Group AG (SWX:ZURN) has a market capitalization of $78.8 billion as of March 19, 2024.

13. AIA Group Limited (HKG:1299)

Market Capitalization: $80.84 Billion

AIA Group Limited (HKG:1299), also commonly known as AIA, is a Hong Kong-based multinational insurance and finance corporation. Providing insurance solutions to both individuals and businesses, it is one of the largest life insurance groups in the Asia-Pacific region. As of March 19, 2024, AIA Group Limited (HKG:1299) has a market capitalization of $80.84 billion.

12. AXA SA (EPA:CS)

Market Capitalization: $84.77 Billion

AXA SA (EPA:CS) is a French multinational insurance company that ranks 12th on our list of the largest insurance companies in the world in 2024. As one of the world’s biggest insurance and asset management groups, it is present in more than 50 countries. AXA SA (EPA:CS) has a market capitalization of $84.77 billion as of March 19, 2024.

11. China Life Insurance Company Limited (SHA:601628)

Market Capitalization: $93.13 Billion

China Life Insurance Company Limited (SHA:601628) is a Chinese state-owned financial services and insurance company. It provides life insurance and annuity products. As of March 19, 2024, China Life Insurance Company Limited (SHA:601628) has a market capitalization of $93.13 billion.

10. Ping An Insurance (Group) Company of China Ltd. (SHA:601318)

Market Capitalization: $95.98 Billion

Ping An Insurance (Group) Company of China Ltd. (SHA:601318) is a Chinese financial services holding company that ranks among the top 10 on our list of the largest insurance companies in the world in 2024. It offers insurance, banking, asset management, and financial services. Ping An Insurance (Group) Company of China Ltd. (SHA:601318) has a market capitalization of $95.98 billion as of March 19, 2024.

9. Cigna Corporation (NYSE:CI)

Market Capitalization: $99.94 Billion

Cigna Corporation (NYSE:CI) is an American multinational managed healthcare and insurance company. It offers dental, medical, disability, life, and accident insurance and related products and services through its subsidiaries. As of March 19, 2024, Cigna Corporation (NYSE:CI) has a market capitalization of $99.94 billion.

8. Marsh & McLennan Companies Inc. (NYSE:MMC)

Market Capitalization: $101.61 Billion

Marsh & McLennan Companies Inc. (NYSE:MMC) is a global professional services firm with businesses in risk management, investment advisory, management consulting, insurance brokerage, and reinsurance services. With a market capitalization of $101.61 billion as of March 19, 2024, Marsh & McLennan Companies Inc. (NYSE:MMC) ranks 8th on our list of the largest insurance companies in the world in 2024.

7. State Farm Insurance

Revenue: $104.2 Billion

State Farm Insurance is a group of mutual insurance companies in the US. It is one of the largest providers of property, casualty, and auto insurance in America. As one of the top insurance companies, State Farm Insurance generated a revenue of $104.2 billion in 2023.

6. Chubb Limited (NYSE:CB)

Market Capitalization: $104.88 Billion

Chubb Limited (NYSE:CB) is a leading insurance company with operations in more than 50 countries. It provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance products and services. Chubb Limited (NYSE:CB) has a market cap of $104.88 billion as of March 19, 2024. It ranks 6th on our list of the 25 largest insurance companies in the world in 2024.

Click to continue reading and see 5 Largest Insurance Companies in the World in 2024.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

The AI infrastructure supercycle
The onshoring boom driven by Trump-era tariffs
A surge in U.S. LNG exports
And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

Access to our Detailed Report on our AI, Tariffs, and Nuclear Energy Stock with 100+% potential upside within 12 to 24 months
BONUS REPORT on our #1 AI-Robotics Stock with 10000% upside potential: Our in-depth report dives deep into our #1 AI/robotics stock’s groundbreaking technology and massive growth potential.
One New Issue of Our Premium Readership Newsletter: You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.
One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149
Bonus Content: Premium access to members-only fund manager video interviews
Ad-Free Browsing: Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Price Guarantee: Your renewal rate will always remain the same as long as your subscription is active.
30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

Insider Monkey Ads

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up

25 Largest Insurance Companies in the World in 2024

Published on March 21, 2024 at 8:02 pm by Ali Ahmed in Business, Industries, Lists, News

Insights into the Global Insurance Market

What are Some of the Biggest Insurance Companies Up To?

25 Largest Insurance Companies in the World in 2024

25. Travelers Companies Inc. (NYSE:TRV)

24. American International Group Inc. (NYSE:AIG)

23. Metlife Inc. (NYSE:MET)

22. Arthur J. Gallagher & Co. (NYSE:AJG)

21. New York Life Insurance Company

20. Nationwide Mutual Insurance Company

19. Tokio Marine Holdings Inc. (TYO:8766)

18. Aon plc (NYSE:AON)

17. Life Insurance Corporation of India (NSE:LICI)

16. Munich Reinsurance Company (ETR:MUV2)

15. Nippon Life Insurance

14. Zurich Insurance Group AG (SWX:ZURN)

13. AIA Group Limited (HKG:1299)

12. AXA SA (EPA:CS)

11. China Life Insurance Company Limited (SHA:601628)

10. Ping An Insurance (Group) Company of China Ltd. (SHA:601318)

9. Cigna Corporation (NYSE:CI)

8. Marsh & McLennan Companies Inc. (NYSE:MMC)

7. State Farm Insurance

6. Chubb Limited (NYSE:CB)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Premium

Log In

Sign Up

25 Largest Insurance Companies in the World in 2024

Published on March 21, 2024 at 8:02 pm by Ali Ahmed in Business, Industries, Lists, News

Share

Insights into the Global Insurance Market

What are Some of the Biggest Insurance Companies Up To?

25 Largest Insurance Companies in the World in 2024

25. Travelers Companies Inc. (NYSE:TRV)

24. American International Group Inc. (NYSE:AIG)

23. Metlife Inc. (NYSE:MET)

22. Arthur J. Gallagher & Co. (NYSE:AJG)

21. New York Life Insurance Company

20. Nationwide Mutual Insurance Company

19. Tokio Marine Holdings Inc. (TYO:8766)

18. Aon plc (NYSE:AON)

17. Life Insurance Corporation of India (NSE:LICI)

16. Munich Reinsurance Company (ETR:MUV2)

15. Nippon Life Insurance

14. Zurich Insurance Group AG (SWX:ZURN)

13. AIA Group Limited (HKG:1299)

12. AXA SA (EPA:CS)

11. China Life Insurance Company Limited (SHA:601628)

10. Ping An Insurance (Group) Company of China Ltd. (SHA:601318)

9. Cigna Corporation (NYSE:CI)

8. Marsh & McLennan Companies Inc. (NYSE:MMC)

7. State Farm Insurance

6. Chubb Limited (NYSE:CB)

Share

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff