Japan Post, Axa world’s biggest insurers

Japan Post, Axa world’s biggest insurers

The world’s biggest insurer by assets is a Japanese firm, while the world’s biggest insurer by net premiums is French, data from AM Best has revealed.

Click here to see the world’s top 25 insurers by assets.

Click here to see the world’s top 25 insurers by net premium.

Life insurers dominate the list of insurers ranked by assets, while non-life firms are more prominent in the list of insurers ranked by premiums. The top 25 firms by assets in 2009 collectively hold $25trn in assets. The 25 top firms by premiums wrote $1.3tn in net premiums in 2009.

Japan Post Insurance had year-end 2009 assets of $1.1trn, more than any other insurer in the world. It is also the fourth-largest in the world based on net premiums in 2009, with $81bn.

Axa is the largest insurance firm by net premiums, with $117bn written in 2009. It is the second-largest by assets, with $963trn of non-banking assets.

European firms lead the list of the 25 largest insurers by assets, with 13 firms, while Asia and North America each have six firms in the list.

The list of largest insurers by net premiums is more evenly spread, with North America and Europe each having nine firms and Asia having seven.

In terms of countries, Japanese firms lead the list ranked by assets, with six firms – Japan Post Insurance, Nippon Life Insurance, National Mutual Insurance Federation of Agricultural Cooperatives, Dai-Ichi Life Insurance and Meiji Yasuda Life Insurance. The UK is second with four firms: Aviva, Legal & General, Prudential and Standard Life.

The US leads the list of firms ranked by premium, with nine firms – UnitedHealth, American International Group (AIG), WellPoint, State Farm, Kaiser Foundation Group of Health Plans, Aetna, Humana, Allstate and Liberty Mutual.

AM Best commented: “Future editions of these lists will likely change on competition and restructuring. For example, AIG sold its foreign life unit, Alico, to MetLife in 2010.”

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