5 Largest Insurance Companies in the World in 2024

In this article, we are going to look at the 5 largest insurance companies in the world in 2024. If you want to read more about the biggest insurance companies and check out our detailed analysis of the insurance market, you can go to 25 Largest Insurance Companies in the World in 2024.

5. Allianz SE (FWB:ALV)

Market Capitalization: $115.36 Billion

Allianz SE (FWB:ALV) is a German multinational financial services company that specializes in insurance and asset management. It ranks among the top 5 on our list of the largest insurance companies in the world in 2024. As one of the top insurance companies in the world, Allianz SE (FWB:ALV) has a market capitalization of $115.36 billion as of March 19, 2024.

4. Elevance Health Inc. (NYSE:ELV)

Market Capitalization: $120.01 Billion

Elevance Health Inc. (NYSE:ELV), previously known as Anthem Inc., is an American health insurance provider. As one of the top insurance companies in the world, it has a market capitalization of $120.01 billion as of March 19, 2024. Elevance Health Inc. (NYSE:ELV) offers medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans.

3. The Progressive Corporation (NYSE:PGR)

Market Capitalization: $120.35 Billion

The Progressive Corporation (NYSE:PGR) is an American insurance company. As an insurer of passenger vehicles, commercial vehicles, motorcycles, RVs, trailers, and boats, the corporation is one of the largest auto and motor insurance carriers in the US. It also offers home, life, and pet insurance. As of March 19, 2024, The Progressive Corporation (NYSE:PGR) has a market capitalization of $120.35 billion.

2. UnitedHealth Group Inc. (NYSE:UNH)

Market Capitalization: $454.8 Billion

UnitedHealth Group Inc. (NYSE:UNH) is an American multinational health insurance and services company that ranks second on our list of the 25 largest insurance companies in the world in 2024. The company offers health insurance products under its UnitedHealthcare brand. UnitedHealth Group Inc. (NYSE:UNH) provides health coverage, Medicare plans, and Medicaid plans for individuals and families. It also offers health management solutions for small businesses and employers. As of March 19, 2024, the company has a market capitalization of $454.8 billion.

1. Berkshire Hathaway Inc. (NYSE:BRK-B)

Market Capitalization: $890.85 Billion

Berkshire Hathaway Inc. (NYSE:BRK-B) tops our list of the 25 largest insurance companies in the world in 2024. Run by CEO Warren Buffet, the company’s main business and source of capital is insurance. Berkshire Hathaway Inc. (NYSE:BRK-B) offers insurance and reinsurance products, mainly covering property and casualty risks, through its brands which include auto insurer GEICO and reinsurance firm Gen Re. The company has a market capitalization of $890.85 billion as of March 19, 2024. GEICO, Berkshire Hathaway Inc.’s (NYSE:BRK-B) wholly-owned subsidiary, is one of the largest auto insurers in America.

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