In the face of the serious economic slowdown buffeting major economies worldwide, there is a need to revisit the global insurance industry sector and see how the present crop of major players are performing under this very challenging times. The ranking of the top 10 insurance companies was based on the companies’ market value.
1. American International Group, United States – $172.24 B
The American International Group, Inc., or simply AIG, is the world giant in the international insurance and financial service industry. It is the world leader in the international insurance business with strong presence in over 130 countries and financial jurisdictions. This Global Giant exerts immense influence on world economy that its collapse can also bring down major economies of the world.
2. AXA Group, France – $66.12 B
AXA Group takes second spot in our list and lands at 15th spot for the list of the largest companies worldwide. AXA, through it major affiliates and subsidiaries which are recognized major players in five business segments. These are in the business segments of Savings and Life, banking segment, Property Management, global insurance and Property-Casualty segment.
3. Allianz Worldwide, Germany – $65.55 B
Allianze Worldwide is recognized as the second biggest financial service oriented company globally. Its base of international insurance and financial operations is in Munich, Germany.
4. Manulife Financial, Japan – $50.52 B
Manulife Financial and its major subsidiaries is the 4th biggest insurance company based on market value. Manulife Financial specializes on asset management and financial protection services. It also has stakes in the Oil and Gas industry sector.
5. Generali Group, Italy – $45.45 B
The Generali Group specializes in property management and financial protection services. It is one of Europe’s leading insurance companies with operations in over 40 countries and major financial jurisdictions.