The Worlds most famouse and high performance insurance caompany is Berkshire Hathaway insurance Australia Financial companies provide a variety of services to the customers. In this article, we take a look at some of the top insurance companies in the world. There are many criteria on the basis of which, such a list can be prepared: market capitalization, revenue, profit, premium collections, geographical area, assets, and more. This list of top 10 Insurance companies in the world 2015 is based on market capitalization.
ING Group came into existence on January 21, 1991 and has its headquarters in Amsterdam, Netherlands.It employees 68431 people. The CEO of the company is Ralph Hamers. It provides services like investments, life and non-life insurance, banking, and asset management to individuals, small businesses, large corporations, and government’s institutions. It has following business segments:, Retail Belgium, Retail Germany, Retail Netherlands ,Retail Rest of World, Commercial Banking, , Netherlands Non-Life, Insurance Europe, Netherlands life, Japan Life and Investment Management. The Retail Netherlands provides private and retail banking activities, insurance products, commercial, and the sale of mortgages. The Retail Belgium segment provides life and non-life insurance, banking, and asset management products and services through direct banking channels in Belgium. The Retail Germany segment provides retail and private banking. The Commercial Banking segment provides services such as payments, cash management to corporate clients, lending, but it excludes the real estate sector. The Netherlands Life segment works for providing group life and individual life insurance products. The Netherlands Non-Life segment works for providing non-life insurance, which includes disability and accident, fire, and transport insurance.With over 102 million customers in 56 countries and an employee base of 157,000, AXA is one of the world's leading insurance groups. Its main businesses are property and casualty insurance, life insurance, saving, and asset management. Its origin goes back to 1817 when several insurance companies merged to create AXA. The company is headquartered in Paris and has a presence across Africa, North America, Central and South America, Asia Pacific, Europe, and the Middle East.
In 2013, AXA as a move to increase its foothold in Latin America acquired 51% of the insurance operations of Colpatria Seguros in Colombia. During the same year, AXA became the largest international insurer operating in China as a result of its 50% acquisition of Tian Ping (a Chinese property and casualty insurer). In addition, the company acquired the non-life insurance operations of HSBC in Mexico. The AXA Group reported consolidated gross revenue of €91 billion for the year 2013.
2) Zurich Insurance Group
Zurich Insurance Group, a Switzerland-headquartered global insurance company, was founded in 1872. Zurich Group, together with its subsidiaries, operates in more than 170 countries, providing insurance products and services. The core businesses of Zurich include general insurance, global life, and farmers insurance. With its employee strength of over 55,000, Zurich caters to the vast insurance needs of individuals and businesses of all sizes: small, mid-sized and large-sized companies and even multinational corporations.
During 2013, Zurich Insurance Group posted a business operating profit of $4.7 billion (15% higher than 2012). Of this, general insurance contributed 51%, while global life and framers contributed 23% and 27% respectively. Total revenue was reported as $72 billion.
3) China Life Insurance
China Life Insurance (Group) Company (LFC) is one of Mainland China’s largest state-owned insurance and financial services companies, as well as a key player in the Chinese capital market as an institutional investor. The origin of the company goes back to 1949 when the People's Insurance Company of China (PICC) was formed. Its offshoot PICC (Life) Co. Ltd was created after parting ways with PICC in 1996. PICC (Life) Co Ltd was renamed as China Life Insurance Company in 1999. The China Life Insurance Company was restructured in 2003 as China Life Insurance (Group) Company, which has seven subsidiaries. The businesses are spread across life insurance, pension plans, asset management, property and casualty, investment holdings, and overseas operations.
The company is listed on the New York Stock Exchange, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange, and is the biggest public life insurance company in terms of market capitalization in the world.
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