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FOR IMMEDIATE RELEASE
OLDWICK - JANUARY 04, 2022 02:12 PM (EST)
UnitedHealth Group Incorporated occupied the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for a seventh straight year, with $201.5 billion in net premiums written (NPW) in 2020. In addition, Allianz SE and AXA S.A. occupied the No. 1 and No. 2 spots, respectively, in AM Best’s ranking by 2020 non-banking assets.
AM Best released the rankings of the world’s largest global insurance companies, by NPW and non-banking assets, in the Jan. 3, 2022, issue of BestWeek. The two rankings are based on BestLink data and additional research. Overall, two major Chinese insurers saw big gains in the ranking by assets, with Ping An Insurance (Group) Company of China Ltd. and China Life Insurance (Group) Co. Ltd. improving on their Top 10 rankings from a year ago.
U.S. health insurers dominated the ranking by NPW, as membership gains in government programs played a heavy role in creating premium growth at these companies. In particular, Centene Corp. rose to fourth place from 10th as its NPW grew year over year by nearly 50%, boosted by its acquisition of WellCare Health Plans in early 2020. Additionally, three other U.S.-based health insurers also saw double-digit NPW growth.
The top 10 global insurers ranked by 2020 NPW are as follows:
The top 10 global insurers ranked by 2020 non-banking assets are as follows:
BestWeek is published weekly by AM Best for insurance professionals, and is available as part of a subscription to the Best’s News & Research service. More information about the Best’s News & Research subscription service is available at http://www.ambest.com/sales/insurancenewsandresearch.asp, or by contacting AM Best Customer Service at +1 908 439 2200, ext. 5742, or +1 800 424 2378 when calling from the United States and Canada.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.