May 25th, 2022 at 07:25 am
5 best insurance companies in the world
Insurance companies are financial institutions that provide different Insurance policies to protect the insurer and their businesses against the risk of financial loss.
These insurance companies issue different policies to cover a variety of contingencies such as fire, flood, theft, death, or a break–in. The insurance companies operate by signing people into their policies and asking them to pay premiums based on the probability of they incur a loss.
The insurance companies invest the premiums they receive from their policy holders and reimburse them in the case of loss.
TOP 5 INSURANCE COMPANIES IN THE WORLD
There are a number of ways by which insurance companies are ranked. Some of the companies are ranked based on the value of the company on the stock market or by using the net premiums that is how many policies were sold. It is important to categorize insurance companies based on their product line. Here are some of the best insurance companies in the world.
1 . Firstly, Allianz Group
Allianz Group is a financial service provider and is based in Germany. It serves over 86 million customers across 70 countries. The company is said to be the world’s largest insurance company in terms of the assets it owns. When it comes to property and casualty insurance, life and health insurance, travel, credit, as well as corporate insurance, Allianz group is the global leader. The premium worth of the company stands at about €76 billion. Also, the company made a profit of 13.4 billion Euros last year 2021
2 . Secondly, AXA GROUP
AXA GROUP is a French multinational financial service provider. The financial services it provides are insurance and asset management. It is the world’s second-largest insurer and has a presence in over 64 countries across the world. AXA operates in four dimensions, that is, Life & Savings, Property & Casualty, Asset Management, as well as Banking. The company made a profit of $8.4billion and has an asset of $838.8 billion
3 . Also, PING AN INSURANCE COMPANY OF CHINA LTD
The PING AN INSURANCE COMPANY OF CHINA LTD is one of China’s biggest insurance companies that specializes in life and health insurance. But provides products and services in other sectors like corporate property, auto services, credit insurance real estate services, and Smart City solutions. Its asset is worth $1.46 million.
4 . Apart from the above, PRUDENTIAL PLC
Prudential Plc is a financial service provider that provides life and health insurance and asset management. The company seeks to protect people’s wealth, help them grow their assets, and empower them to save for their goals. It has over 18 million customers across Asia and Africa. The company’s total assets are worth $940.722 billion.
5 . Lastly, Metlife Inc
This is a holding of the Metropolitan Life insurance company. It is among one of the biggest insurance providers and has over 90 million customers across 60 countries.
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