Forbes 2024: Top 20 largest insurance companies in the world (2024)
The 2024 edition of the "Forbes Global 2000" highlights a remarkable increase in Berkshire Hathaway. Leading in the insurance category, the American conglomerate moved up 336 places in 2023 to claim the 2nd spot in the annual ranking of the world's largest companies. The reinsurer Munich Re gained 18 places, from 96th to 114th.
UnitedHealth Group, the second insurer on the list, slipped 4 places to settle at the 19th position. It is followed in third place by Ping An Insurance Group, which also fell 13 positions to 29th place.
1. Warren Buffett. Buffett once again secures the top spot on the list of the country's wealthiest insurance tycoons. The man known as the “Oracle of Omaha” currently sits in the tenth spot of Forbes' overall rankings with a net worth of $103.6 billion.
Data source: Geico and Progressive. Since Geico is owned by conglomerate Berkshire Hathaway, it also offers insurance discounts to employees of certain other Berkshire subsidiaries.
Most Expensive Car Insurance: The Bottom Line. According to our rate averages, the most expensive car insurance often comes from The Hanover Insurance Group. The company's average rates for both liability and full-coverage insurance can be more than 400% higher than the national average.
Executive Life Insurance Company is regarded to be the biggest bankruptcy of an insurance company in the United States in the course of recent years. Based in California, the life company had to file for bankruptcy in 1991 following disastrous investments in junk bonds.
Hamburger Feuerkasse (English: Hamburg Fire Office) is the first officially established fire insurance company in the world, and the oldest existing insurance enterprise available to the public, having started in 1676.
State Farm is the largest car insurance provider in the US, accounting for almost 17% of the overall market. The figure is equivalent to over $8 billion more in direct written premiums compared to the next-ranked insurer.
What Is the Wealthiest Insurance Company in the World? While United Health Group is the largest insurance company by revenue, it is dwarfed by Berkshire Hathaway in terms of net income and market cap.
The five largest health insurance companies are UnitedHealth Group, Anthem, Kaiser Permanente, Ambetter and Humana. Currently insured? No spam. No hassle.
The 500 corporations on the 2021 list collectively generate $13.8 trillion in revenue, representing approximately two-thirds of the U.S. economy. Twenty-six of those companies this year operate in the property & casualty insurance space — on par with the 2020 ranking.
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The 2024 edition of the "Forbes Global 2000" highlights a remarkable increase in Berkshire Hathaway. Leading in the insurance category, the American conglomerate moved up 336 places in 2023 to claim the 2nd spot in the annual ranking of the world's largest companies. The reinsurer Munich Re gained 18 places, from 96th to 114th.
