Top 10 Insurance Companies in the World 2014

Top 10 Insurance Companies in the World 2014Insurance is the fair coverage of a loss or damage of an entity or a property in the form of amount. It is a kind of risk management that acts as shield against the risk of conditional ambiguous loss. Today, when everything is getting so expensive and even a small damage can affects the lifestyles of many; there are some great financial services that can help you a lot. However some of the insurance services which individuals seek include auto insurance, property insurance, casualty insurance, health insurance, etc. while having one or more of these insurance policies protect you from massive damage, it may be difficult to choose the best insurance company to invest. To help with this, here we have compiles a list of top 10 best insurance companies in the world 2014.

10. ING Group

The ING Group is a global insurance company and banking organization of Dutch origin. It is also known as “Internationale Nederlanden Group”. A one stop solution for all your general insurance needs, ING group offers travel, car, home and health insurance policy. The company has expanded its services to other parts of the globe including Europe, Asia and America.

Revenues (FY13): $ 34.6 Billion

Net Profit (FY13): $4.3 Billion

Market Cap (Q1-14): $54.4 Billion

9. Zurich Insurance Group

Zurich Insurance Group is of Switzerland origin. The company offers a range of insurance products and services for individuals, small business, mid-sized and large-sized companies and multinational corporations. The company operates through three business segments- General Insurance, Global life and Farmers.

Revenues (FY13): $72 Billion

Net Profit (FY13): $4 Billion

Market Cap (Q1-14): $45.4 Billion

8. AIA Group Limited

AIA Group is a Hong Kong based insurance company and has branches in the  Asia Pacific region including China, Australia, Japan, Malaysia, Vietnam, etc. It meets the savings and protection needs of individuals by offering a retirement planning, life insurance and accident and health insurance.

Revenues (FY13): $ 34.6 Billion

Net Profit (FY13): $4.3 Billion

Market Cap (Q1-14): $54.4 Billion

7. Metlife Insurance Company

With its headquarters in New York, Metlife or Metropolitan Life Insurance Company is one of the world’s largest global providers of insurance annunities, insurance and employee benefit programs. Metlife holds leading market positions in the United States, Japan, Latin America, Asia, Europe, the Middle East and Africa. Recently, a panel of top government officials moved MetLife Inc. one step closer to possible designation as a “systemically important financial institution.”

Revenues (FY13): $ 68.2 Billion

Net Profit (FY13): $3.4 Billion

Market Cap (Q1-14): $59.4 Billion

6. Axa Insurance Company

AXA is a French, multinational, investment banking firm having its headquarters in the 8th arrondissement of Paris that engages in global investment banking, securities, investment management, insurance, and other financial services. It operates through five business segments- Life and Savings, Property and Casualty, International Insurance, Asset Management and other financial services.

Revenues (FY13): $ 159 Billion

Net Profit (FY13): $6 Billion

Market Cap (Q1-14): $57.8 Billion

5. Ping An

Ping An Insurance Group Co of China Ltd, China’s second-largest insurer by market capitalization offers financial products and services with a focus on insurance, banking and investment businesses. The company operates through the following segments: Life Insurance, Property & Casualty, Banking, Securities and Corporate.

Revenues (FY13): $ 69 Billion

Net Profit (FY13): $4.6 Billion

Market Cap (Q1-14): $65.6 Billion

4. American International Group

American International Group, Inc. (AIG) is a global insurance company with its headquarters in New York. The company provides a range of property, casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in more than 130 countries. AIG generates revenue from insurance premiums, policy fees from universal life insurance and investment products, and income from investments.

Revenues (FY13): $ 68.7 Billion

Net Profit (FY13): $9.1 Billion

Market Cap (Q1-14): $72.3 Billion

3. Allianz

Allianz Group is a German multinational company established in 1890 and is one of th eworld’s leading service providers in the fields of insurance and asset management. With operations in 70 countires, Allianz has generated total revenue of $127.2 Billion. Allianz has been awarded the General Insurer of the Decade.

Revenues (FY13): $ 127.2 Billion

Net Profit (FY13): $8 Billion

Market Cap (Q1-14): $76.8 Billion

2. China Life Insurance

The China Life Insurance company is a popular China incorporated company located in Beijing and provides annuity products and life insurance.  It is the only state-owned insurance group with an asset exceeding 1 trillion RMB yuan. It is also one of the largest institutional investors in China’s capital market. China Life integrates economic returns with social benefits and fully undertakes industrial and social responsibility and therefore, contributes to the construction of a harmonious society.

Revenues (FY13): $ 67.9 Billion

Net Profit (FY13): $4 Billion

Market Cap (Q1-14): $80 Billion

1. Berkshire Hathaway

It is an American multinational company having major operations in GEICO, annuity sales, sales of jewelry and life insurance, its headquarters are located in Nebraska, Omaha and the United States and administer a number of subsidiary companies. The ubiquitous ads, accounting for almost a quarter of all U.S. insurance companies’ advertising spending, cost Berkshire more than $1.2 billion last year. Not only is the insurer a money spinner for Berkshire—Geico’s second-quarter pretax underwriting profit jumped 17% to $393 million from a year earlier—it also is one of Mr. Buffett’s oldest and most-cherished holdings.

Revenues (FY13): $ 182 Billion

Net Profit (FY13): $19.5 Billion

Market Cap (Q1-14): $308 Billion