Due to the 2008 global economic meltdown, all the insurance companies of the world had to undergo a lot of disorder and mayhem. Not only that, consequences of market investment vagueness, deregulation, globalization, etc are also other key factors that have given blows to this sector of corporations. But the interesting fact is that even after so much of confusion there are few insurance companies that have come out successfully and today, are part of the top 10 insurance companies 2013. These are the names that have been discussed below.
Top Ten Insurance Companies 2013
Get to know the top ten insurance companies for the year 2013.
1. Berkshire Hathaway
By possessing a wide range of businesses including retail, home furnishings, manufacturers of vacuum cleaners, newspaper publishing, manufacture and distribution of uniforms, confectionery, railroad, encyclopedias, jewellery sales and electric and gas utilities; Berkshire Hathaway is a top rated insurance company at present. The credit for its success goes to its chairman cum CEO – Warren Buffett. According to reports $252.8 Billion is the American multinational company’s market capitalisation for 2013.
2. Generali Group
Generali Group is not only the largest insurance company in Italy and Central Europe but has also grabbed the second position among the top 10 insurance companies 2013. Established way back in 1831, currently it has set up large market shares in Europe, East Asia and Middle East. In the United States it concentrates only in life reinsurance and financial products management. Its headquarters is located in one of the most prominent sea port of the Austro-Hungarian Empire – Trieste.
Being one among the foremost integrated financial service providers, it has its existence throughout the global, employing more than 155000 workers. Insurance is its core business and in the year 2012 it was ranked as the largest financial company in the world as per revenue. Allianz has been the sponsor of sports like Allianz Open de Lyon (golf), Allianz Golf Open du Grand Toulouse (golf), Allianz Cup (tennis), FINA Swimming World Cup (swimming), Women’s British Open (golf), Allianz Championship (golf), Allianz Suisse Open Gstaad (tennis) and Allianz Championship (golf).
American International Group, also popularly known as AIG is an American international insurance company serving customers in over 130 nations around the earth. As of 21st April, 2013 its market capitalization was recorded at $57.53 billion. Its corporate headquarters is located in New York while its British headquarters in London, continental Europe – Paris and Asian headquarters in Hong Kong. In the United States it also has a status off being the biggest underwriter of commercial and industrial insurance.
5. Ping An
Founded in 1988, Ping An is a Chinese holdings company with major concentration in the section of insurance and finance. Apart from operations through the length and breadth of the People’s Republic of China, it also has branches and representative agents in 150 other nations.
AIA is the second Chinese insurance company to climb the chart of best insurance companies 2013. When it comes to market share and number of policies, AIA Group Limited is the “numero uno” company in Hong Kong. Previously it was a member of American International Group but had separated from it during 2009. Singapore, Taiwan, Philippines, Sri Lanka, Malaysia, India and Thailand are its major area of operation.
The French multinational insurance corporation, AXA is engaged in five chief segments – Property & Casualty, Asset Management, Life & Savings, International Insurance and financial services. It is activate mainly in North America, Middle East, Western Europe and Asia Pacific region. AXA was set up in 1817 and today after more than a century of operation it can boast $45.32 Billion as market capitalization. The headquarters of the company is situated at 8th arrondissement of Paris.
Metlife or Metropolitan Life Insurance Company is another name that stands tall among the largest international providers of annuities, insurance and employee benefit programs. The firm is known to have 90 million clients and customers across more than 60 countries. On 6th January, 1915 it became a mutual company and since then has been holding major market positions in Latin America, North America, Asia’s Pacific Region, Japan, Middle East and Europe.
9. Zurich Insurance Group
Zurich Insurance Group, the Swiss insurance company takes in the ninth position amid the top 10 insurance companies 2013. Global Life, General Insurance and Farmers are the core section that the company has been emphasising on since its birth in 1872. 60,000 employees have been appointed to serve customers in over 170 countries of the world. $41.84 Billion was the reported market capitalisation for the year 2013.
ING Group is a Dutch international corporation engaged in insurance and other financial services. Internationale Nederlanden Groep is its complete name and was founded in 1991 with its headquarters in Amsterdam. The company shares its position among the largest insurance and financial service names with annual revenue crossing $150 billion each year. With a worldwide workforce exceeding 100,000; ING serves more than 85 million institutional clients and individuals across over 45 nations.