In this article, we will discuss the 5 best home insurance companies. If you want to read our detailed analysis of the property and casualty industry, go directly to the 10 Best Home Insurance Companies.
5. Chubb Limited (NYSE: CB)
Market cap: $71.9 billion
Zurich-based Chubb Limited ranks 5th on the list of the 10 best home insurance companies. Chubb Limited is a major commercial lines insurer in the United States and one of the world’s largest property and casualty companies. Chubb offers commercial and personal property and casualty insurance, supplemental health insurance, reinsurance, and life insurance to a diverse community of customers through its regular operations in 54 countries worldwide.
In 2020, Chubb’s full-year net income was $3.53 billion, down from $4.45 billion the previous year. Shares of CB jumped 30.8% over the past twelve months. MKM Partners analysts have given a Buy rating to Chubb. There is a 30.69% upside opportunity at the current price of $ 160.69.
4. Allianz SE
Market cap: $107.4 billion
German insurance giant Allianz SE ranks 4th on the list of the 10 best home insurance companies. The Fortune Global 500 company is the winner of Money magazine’s Best-Value Home and Contents Insurance Award 2021. Allianz is a multinational insurance company that provides property and casualty insurance and wealth management services since it was founded in 1890. Recently, Europe’s largest insurer Allianz SE acquired Aviva Poland for a $2.9billion all-cash deal. It is expected to be completed in 12 months, pending regulatory approval.
In the fourth quarter of 2020, the company’s property and casualty segment revenue jumped 0.4% to $70.6 billion. The stock has gained 32.7% in the last twelve months.
3. China Life Insurance Company (NYSE: LFC)
Market cap: $152.3 billion
Raking 3rd in our list of the 10 best home insurance companies is China Life Insurance Company. The company operates as one of the most prominent property and casualty insurers globally through its subsidiary. The firm, which is headquartered in Beijing, China, specializes in life, annuity, accident, and health insurance. The state-run insurance corporation brags about its extensive national distribution network, which includes 740,000 agents selling individual insurance, 19,000 agents selling community insurance, and 71,000 agents selling at bank counters, serving nearly 200 million customers.
The company’s overall revenue in 2020 climbed 10.3% to $122.7 billion. Shares of LFC increased 3% over the past twelve months.
2. Ping An Insurance Company of China
Market cap: $218.9 billion
Ranking 2nd in our list of the 10 best home insurance companies is Ping An Insurance Company of China. Ping An, China’s first joint-stock insurance company, was established in 1988 in the southern city of Shenzhen, Guangdong Province. Ping An is one of the world’s largest financial services firms, with over 214 million retail customers and nearly 579 million Internet users.
Insurance Asia News recently named Ping An Property & Casualty “Digital Insurer of the Year” in their Awards for Excellence 2020. Artificial intelligence, data acquisition, image recognition, and big data are among Ping An Property & Casualty’s “groundbreaking programs,” which fund technologies like online claims and mobile services.
The company’s net profit in 2020 came in at $24.4 billion. The stock has gained 22.9% in the last twelve months.
1. Berkshire Hathaway Inc. (NYSE: BRK.A)
Market cap: $605 billion
Topping the 10 best home insurance companies list is Warren Buffett’s investment holding Berkshire Hathaway Inc. The firm has established operations in property and casualty insurance and reinsurance, electricity and energy, freight rail transportation, banking, manufacturing, and retailing services. The Omaha-based holding company manages over 60 subsidiaries, including GEICO and the grocery giant Kraft Heinz.
The company plans to invest $8.3 billion in new power generation. This blackout insurance is supposed to save Texas from experiencing another power outage. By November 2023, the company plans to build ten power plants across the state, each with a week’s worth of natural gas storage on-site in case of supply disruptions.
Since the beginning of the year, BRK-A has returned 14.11%, bringing its year-to-date gains to 36.31%. Its Class A shares, which are the most expensive in the stock market, closed at $400,000 on April 9.
Pixabay/Public Domain
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