Before we get to the top 15 insurance companies in the World, let’s start this story by looking back into ancient history. Did you know that (according to Investopedia) the first written proof of insurance policy goes as far back as cca 1750 BC? On a Babylonian obelisk monument, there is a carving, better known as the ‘The Hammurabi Code’. This code is one of the first written laws, and although cruel and extreme at times, it guaranteed basic insurance to the debtor, should he encounter any kind of catastrophe, such as death, disability, etc.
Obviously, people have been aware of risks since forever, as well as of the fact that risk involves losses. Insurance is a defensive tool used to cover future conditional losses and this indispensable tool reduces the cost and the effect of loss. Hence it is important to have an insurance cover for your car, health, house and life. Insurance is an issue of trust. Hence choosing the right insurance company to meet your needs and requirements is one of the most important decisions in your life. The following is a list of the top 15 insurance companies in the World.
1. American International Group (AIG): AIG is an internationally acclaimed insurance organization with its branches spread across 130 countries. They provide commercial, institutional and individual financial services and insurance services. They are indeed touted as the leading providers of financial services and asset management across the world. They also provide retirement services in the USA. Today they are known for their willingness and ability to provide insurance coverage to meet the diversified needs of the clients.
2. AXA: This is yet another leading insurance and asset management group headquartered in Paris. This company is reputed for offering top notch services to its clients. Various research statistics reveals that an extremely higher percentage of people in the UK opt for the AXA life insurance. Their services are geared towards providing utmost satisfaction to their clients. Besides being trustworthy they also offer some great insurance plans for their clients. The amount of cover is higher than offered by other companies and most of all they treat all clients alike. Their monthly rates are also low to fit the budget of their clients.
3. Allianz Worldwide: This insurance company is touted as the third best insurance company in the world. This company is based in Germany and provides integrated financial services across the globe. Besides dominating the insurance market in Germany they have also marked their presence across the world. They are ranked as one of the best insurance companies because they provide services to the public through their network of independent financial professionals.
4. Generali Group: Based in Italy Generali group is one of the leading insurance and financial players in the world. Their strong international outlook has made them establish their presence in more than 60 countries across the globe. Their commitment to attain client satisfaction and product innovation has made them one of the best insurance companies in the world.
5. Manulife Financial: This is yet another leading Canadian based financial services company which has built a global presence mainly because of their reliability, trustworthiness and forward thinking financial services. They are recognized for their high professionalized services, honesty and integrity in their dealings, exceptional value for money, consistent and prudent investment management policies and customer retention. No wonder they are also one among the best in the world.
6. Prudential Insurance Company: Prudential plc is a significant financial services company from England which helps various communities to plan their finances and prevent financial risks. They have established a strong presence in UK, U.S, Europe and Asia. They move through a multi-channel distribution and serve more than 21 million customers across the globe.
7. Metlife: This is another top-provider of insurance services to millions of individual and institutional customers in the USA. Their specialty lies in providing coverage for various types of insurances. They have also established direct insurance operations in Asia Pacific, Latin America and Europe.
8. ING: This is yet another globally recognized and well established insurance company. Headquartered in Netherlands it offers banking, insurance and asset management services. They rank in the top list because they keep themselves abreast of the technological developments in this field. They assure exceptional customer service and provide professional expertise to better their customer’s future lives.
9. Zurich Insurance Company: This is a multi-line insurance provider with a global network. They offer a wide array of general and life insurance products and services for individual, small business firms and large organizations. Through their broad range of products and distribution channels they understand customer’s requirements and protect them from various risks.
10. Ping An Insurance: The Ping An Insurance company of China has developed an integrated financial services in insurance, banking and investment. They specialize in life, property, casualty and health insurance. As a professionally managed world class organization they aim at providing the best customer service with integrity and honesty. They have also received numerous awards and accolades in recognition of their incredible charitable work.
11. China life insurance Company: This is one of the largest insurance companies in Asia headquartered in Beijing. This is the first ever Chinese insurance company to be listed in three markets – The New York stock exchange, Shanghai stock exchange and the Hong Kong stock exchange. It consistently strives to emerge out as a leading insurance company with good client recognition and best corporate value. Though it originally began with fire and marine insurance they have now expanded to cover individual and group insurance also.
12. Berkshire Hathaway: The Berkshire Hathaway insurance companies maintain a high level of capital. This is a feature that distinguishes it from other major insurance companies. Their specialty insurance has undeniably caused a stir in the insurance industry because of the name it carries. They provide automobile insurance through GEICO, property insurance and casualty reinsurance through General Re and life insurance through NRG.
13. Aegon: The Aegon group provides life insurance, pensions and asset management solutions. It has established a reputation for global presence and has served millions of customers across the globe. They have significant operations in the USA, UK, Netherlands and parts of Asia and Europe. In Spain they are the key players for life insurance.
14. All State insurance company: This Company provides a wide range of insurance products and has received a multitude of awards for their performance excellence and commitment to client satisfaction. They assure that when it comes to insurance nobody gives you more for your money than All state. They offer a wide range of insurance products with incredible discounts to make it affordable.
15. Harford: This is one of the largest and oldest insurances companies based in the USA. They focus on customer’s interests and deliver innovative solutions. They have high standards of ethical conduct, skilled staff and help customers achieve a secure and prosperous future. Their mission is to provide superior financial solutions. No wonder they also top the list.
The above is a consolidated list of top 15 well-established, reputable and globally recognized top notch insurance companies from across the globe. They stay ahead in the crowd on account of their professional expertise, technological advancements in the field of insurance and the customer satisfaction they guarantee.
Lana Wilde has recently discovered the world of blogging. Since she works from home, she has been exploring the options of budgeting, but still having a cover with the Australian iSelect. When not at her computer, she enjoys the outdoors with her dog.