UnitedHealth Group largest insurer in world by premium, says Best

The largest insurer in the world, based on 2021 net premiums written (NPW), is UnitedHealth Group, according to AM Best’s ranking of the world’s 25 largest insurance companies. Allianz SE is the largest insurer in the world based on non-banking assets.

US insurer UnitedHealth Group was number one for the eighth straight year, with NPW growing by 12% in 2021 to $226.2bn. US-based health insurers further strengthened their leading positions in the NPW ranking, with Centene Corp and Elevance Health ranked second and third. Two Chinese insurers, China Life Insurance and Ping An Insurance, make up the top five.

Allianz SE remained the leading insurer by non-banking assets at $1.2trn, while Berkshire Hathaway rose to second place from fifth. Another US insurer, Prudential, was in third place, followed by Ping An Insurance and China Life Insurance.

The top 10 global insurers ranked by 2021 NPW are as follows:

1. UnitedHealth Group (US)
2. Centene Corporation (US)
3. Elevance Health (US)
4. China Life Insurance (China)
5. Ping An Insurance (China)
6. Kaiser Foundation Group of Health Plans (US)
7. AXA S.A (France)
8. Allianz SE (Germany)
9. People’s Insurance Company (China)
10. Assicurazioni Generali (Italy)

The top 10 global insurers ranked by 2021 non-banking assets are as follows:

1. Allianz SE (Germany)
2. Berkshire Hathaway (US)
3. Prudential Financial (US)
4. Ping An Insurance (China)
5. China Life Insurance (China)
6. AXA S.A. (France)
7. Legal & General Group (UK)
8. MetLife (US)
9. Nippon Life Insurance (Japan)
10. Manulife Financial Group (China)

Source: AM Best