Top 20 Insurance Companies Based on Premiums Received — FY 2025

Top 20 Insurance Companies Based on Premiums Received — FY 2025

Top 20 Insurance Companies Based on Premiums Received — FY 2025: Top 20 Insurance Companies Based on Premiums Received — FY 2025, the global insurance industry is a cornerstone of financial stability, offering protection against unexpected risks while supporting economic growth and resilience. In recent years, the sector has faced unprecedented changes driven by technological advancements, evolving customer expectations, global health challenges, climate change, and shifting regulatory landscapes. Fiscal Year (FY) 2025 stands out as a period where the competitive landscape of insurance companies has been significantly reshaped. Among the most telling indicators of an insurer’s market strength is the total premiums received—a metric that reflects both the company’s ability to attract and retain policyholders and its overall market trustworthiness.

Premiums received represent the total value of policies issued and renewed within a given period, serving as a tangible measure of an insurer’s operational capacity, product appeal, and financial health.

The top 10 insurance agency by yearly revenue are United Health Group, Berkshire Hathaway, CVS, Cigna, Centene, Allianz ……

In FY 2025, some companies have demonstrated exceptional growth in premium collections, underscoring their strong underwriting strategies, innovative insurance products, efficient claims handling, and effective distribution networks. These top players are not only dominating their domestic markets but are also expanding their global presence through strategic partnerships, mergers, acquisitions, and digital transformation.

Understanding which companies lead the market in premiums received provides valuable insights for policyholders, investors, regulators, and industry analysts alike. For consumers, it can be an indicator of the insurer’s stability, claim-paying ability, and service capacity. For investors and stakeholders, it signals the company’s market share, competitive advantage, and growth trajectory. Furthermore, tracking these rankings helps regulators and policymakers assess the overall health of the insurance market and the resilience of its leading firms.

This article takes a closer look at the Top 20 Insurance Companies Based on Premiums Received in FY 2025, highlighting their key performance factors, market strategies, and competitive strengths. By examining these leaders, we can better understand the trends driving the insurance industry forward, from the integration of artificial intelligence in underwriting to the growing demand for sustainable and climate-resilient coverage. Whether you are a consumer seeking reliable coverage, a professional in the insurance sector, or a market analyst monitoring industry dynamics, this list offers a comprehensive guide to the companies that are setting the pace in today’s evolving insurance marketplace.

Moreover, For FY-2025 the largest global insurers by premiums generally reflect a mix of large U.S. health insurers and diversified global life / P&C groups. The leaders include U.S. health giants (whose “premiums” include health plan revenues), large Chinese life insurers, and the big global financial groups headquartered in Europe and Japan. Rankings below combine the best available public data and industry lists (see methodology). Where possible I note recent premium figures or the most relevant company disclosure. Different lists use different definitions — see the Methodology section. IIIReinsuranceNe.ws

1. UnitedHealth Group (United States)

Why here: UnitedHealth is the world’s largest insurer by revenue and premiums thanks to its UnitedHealthcare business (health insurance) and Optum services. Recent industry tallies and revenue reports place UnitedHealth at the top of lists that rank insurers by premiums/revenue. UnitedHealth’s 2024/early-2025 results continued to show extremely large premium/plan revenue flows. WikipediaInvestopedia

2. Ping An Insurance (China)

Why here: Ping An is the biggest multi-line insurer in China and one of the world’s largest by insurance revenue and premiums. The group’s annual disclosures show very large insurance revenue and premium income (Ping An’s most recent annual results and investor materials report strong top-line insurance revenue and GWP). Ping An’s size in life and P&C combined places it near the top globally. PingAnUNEP FI

3. Allianz (Germany)

Why here: Allianz remains one of the world’s largest insurers by gross written premiums and insurance service revenue across life, P&C and asset management businesses. Allianz Research and Best’s rankings regularly include Allianz near the top of Europe-global lists. Allianz.combestsreview.ambest.com

4. AXA (France)

Why here: AXA is a global multi-line insurer with large life, health and P&C businesses; it consistently ranks among the top insurers by premiums and insurance service revenue. Large international footprint and sizable corporate accounts keep AXA in the top tier. mbaskool.com

5. China Life Insurance (China)

Why here: China Life is one of China’s largest life insurers by premiums and assets. The major Chinese life groups (China Life, Ping An, PICC/People’s Insurance) dominate rankings by written life insurance premiums. ReinsuranceNe.ws

6. State Farm Group (United States)

Why here: As the largest U.S. P&C insurer by premiums in many U.S. market rankings, State Farm appears at the top of global lists for property & casualty premiums. S&P/NAIC/industry lists consistently show State Farm among the very largest direct writers in the U.S. market. ReinsuranceNe.wsNAIC

7. Berkshire Hathaway (United States)

Why here: Berkshire’s insurance operations (GEICO, General Re, Berkshire Hathaway Reinsurance, National Indemnity, etc.) generate enormous premium volumes across multiple lines and reinsurance. Ranked high by net premiums written on industry lists. ReinsuranceNe.wsagencychecklists.com

8. Zurich Insurance Group (Switzerland)

Why here: Zurich is a leading global P&C and life insurer with large commercial lines and retail footprints; it appears on top lists for gross written premiums across developed markets. III

9. Prudential plc / Prudential Financial (grouping note)

Why here: Prudential’s global life and savings franchises (Prudential plc/Prudential Financial depending on region) are large premium collectors in Asia and the UK/US respectively. In many global lists, one or both Prudentials rank inside the top 20 by life premium flows or insurance revenue. prudentialplc.com

10. Tokio Marine Holdings (Japan)

Why here: Tokio Marine is a major Japanese P&C insurer with large domestic premiums and growing international operations. It ranks among the top insurers by premiums in Asia and globally for P&C business. Beinsure

11. Munich Re / ERGO (Germany)

Why here: Munich Re is one of the world’s largest reinsurance groups and — combined with its primary insurance subsidiaries such as ERGO — produces very large premiums and reinsurance inflows; Munich Re frequently appears among global premium leaders in reinsurance-weighted lists. ReinsuranceNe.ws

12. AIA Group / AIG / American giants (split)

Why here: AIA (Asia-Pacific life specialist) and American International Group (AIG) are examples of companies that appear in the global top 20 depending on whether the ranking emphasizes life GWP or property & casualty NPW. AIA is massive across Asia for life premiums; AIG remains an important global P&C underwriter and reinsurer. (Depending on source, each may occupy slightly different positions in a top-20 list.) ReinsuranceNe.wsmbaskool.com

13. China Pacific Insurance (CPIC) / PICC (China)

Why here: Large Chinese insurers such as CPIC and PICC record massive premiums in both P&C and life businesses and are regularly included among the world’s top insurers by premiums written. ReinsuranceNe.ws

14. Generali (Italy)

Why here: Generali is Europe’s largest insurer by some metrics and in many global rankings appears inside the top 20 by premium income and insurance revenue. Beinsure

15. MetLife / Prudential Financial / US life players (grouped when relevant)

Why here: Large U.S. life insurers such as MetLife and Prudential Financial write substantial life and group health premiums (and employee benefits), placing them among the top global premium collectors. Exact rank depends on whether rankings include health revenues and the methodology used. Investopedia

16. Chubb Limited (Switzerland / US listing)

Why here: Chubb reported $55.4 billion in P&C gross written premiums in 2024, making it one of the largest P&C writers globally. That 2024 figure and Chubb’s global commercial and personal lines operations keep it within the top 20 for FY-2025 rankings by premium. about.chubb.com

17. Progressive Corporation (United States)

Why here: Progressive is one of the top U.S. private passenger auto and P&C writers by direct premiums; U.S. market concentration means Progressive shows up in global lists of top premium writers in P&C. ReinsuranceNe.wsIII

18. Tokio Marine / Sompo / Nippon Life cluster (Japan)

Why here: Besides Tokio Marine, big Japanese peers such as Sompo and Nippon Life are among the top global premium collectors — especially when life premium streams (Nippon Life) are included. These Japanese insurers make the top 20 across most metrics. Beinsure

19. State/Regional heavyweights (e.g., China Reinsurance / National players)

Why here: Depending on whether reinsurance premiums and domestic life premiums are aggregated, large state-owned insurers and reinsurance groups (China Re, Japan Post, Japan Post Holdings) often appear in top-20 global lists. Rankings differ by metric and exchange-rate conversions. BeinsureReinsuranceNe.ws

20. Regional & specialist global players that break into top 20 (example: CNA, Liberty Mutual, Others)

Why here: Companies such as Liberty Mutual, CNA, and selected large European life groups occasionally appear inside a top-20 by premium list depending on the metric used. If a list emphasizes global direct premiums written in property/casualty lines, these U.S. commercial writers will appear. IIIHKEX News

Methodology, caveats and sources

How I built this ranking:

1. Primary metrics: I prioritized gross written premiums (GWP) and net premiums written (NPW) as reported in company annual reports and industry ranking publications (AM Best / S&P / NAIC / III / ReinsuranceNews). Where health insurers are included, many public lists use total premium revenue or “insurance revenues” — for example UnitedHealth and other U.S. health plan operators report plan revenue that is equivalent to “premiums” for ranking purposes. PingAnIII

2. Sources: authoritative industry compilers (AM Best / Best’s Rankings, S&P, IAIS, NAIC/III reports), large industry research pieces (Allianz Research / McKinsey Global Insurance Report) and insurers’ own 2024/2025 annual results and investor presentations. Examples: Best’s 2025 sector rankings and AM Best lists; Allianz’s Global Insurance Report (2025 edition); Ping An 2024 annual results; Chubb 2024 shareholder letter; NAIC/III market share reports. www3.ambest.comAllianz.comPingAnabout.chubb.com

3. Currency & FY differences: insurers report on different fiscal calendars and use different currencies. I relied on the most recent full-year figures available (often calendar 2024 or FY ending early 2025) and industry rankings that normalize across currencies where possible. This means the list should be read as a FY-2025-era ranking that uses the latest available reported premium flows. See limitations below. iais.org

Main caveats:

• Definition differences: some lists rank by GWP, others by NPW or insurance revenue (which for health insurers can be huge because of medical plan payments). This changes relative positions — e.g., UnitedHealth often tops lists by revenue but may not top lists strictly measuring P&C GWP. WikipediaIII

• Timing: many authoritative rankings released in 2025 use year-end 2024 data as the basis. If a company’s FY ends March 2025 (instead of Dec 2024), that slightly changes comparability. I flagged where a company’s latest public figure was a 2024 disclosure. iais.org

• Exchange rates: global comparisons require currency conversions; industry compilers typically convert using average or spot rates — small differences can change order near the middle of the top-20. Allianz.com

Key sources (representative):

• AM Best / Best’s Rankings — insurer rankings by premiums and lines (2025 reports). www3.ambest.com

• ReinsuranceNews / industry top lists (aggregates of net premiums written). ReinsuranceNe.ws

• Allianz Research — Global Insurance Report (2025). Allianz.com

• Company annual reports and investor presentations (Ping An 2024 results, Chubb 2024 letter). PingAnabout.chubb.com

• NAIC / III and other national market share reports for U.S. P&C ranking context. NAICIII

Context: What the FY-2025 premium landscape tells us

1. Health insurers dominate by revenue (U.S. effect): U.S. health plan companies — UnitedHealth, Elevance (Anthem/Elevance), Cigna/Evernorth, Centene — collect enormous plan premiums that show up as top-line revenue. If you treat their plan revenue as “premiums received,” they can occupy multiple top ranks globally. This makes FY-2025 rankings sensitive to whether the list is limited to P&C/life insurers or includes health plan revenues. WikipediaInvestopedia

2. Asia (China) continues to climb in global premium share: Chinese life and P&C insurers (Ping An, China Life, PICC, CPIC) are major premium collectors. Rapid growth in China’s insurance market (both life and non-life) has moved these companies up global premium tables. Industry reports (IAIS, Allianz) show increasing premium shares for Asia in the 2024–2025 period. PingAnAllianz.com

3. Reinsurance & specialty players matter for GWP: Firms like Munich Re and Berkshire Hathaway feature heavily when reinsurance premiums are included. Reinsurance premiums are large and concentrated — including them pushes reinsurance giants into top positions in some lists. ReinsuranceNe.ws

4. Market concentration in developed markets: In the U.S., the top 10 P&C groups account for a large share of direct premiums written (NAIC figures). That concentration helps U.S. insurers like State Farm, Berkshire (via GEICO), Chubb and Progressive appear as top players by premiums. NAICIII

Short profiles & FY-2025 highlights (selected companies)

Below are short, actionable profiles and FY-2025-era highlights for many of the top companies named above.

UnitedHealth Group (UNH) — Why it’s on top

• Business mix: large health insurance (UnitedHealthcare) + healthcare services (Optum).

• FY-2024/25 point: UnitedHealth’s plan revenues are the largest single insurer flows globally, driven by Medicare Advantage, Medicaid, and commercial health plans. This places it at the top of revenue/premium lists that include health plan revenues. Wikipedia

Ping An Insurance — Why it’s on top

• Business mix: life insurance, P&C, financial services and tech.

• FY-2024/25 point: Ping An reported large insurance revenues and continued investments in tech and health services; its 2024 annual results are a major source for its premium totals. PingAn

Allianz — Why it’s on top in Europe

• Business mix: diversified life, P&C, asset management (Allianz Global Investors).

• FY-2024/25 point: Allianz Research’s 2025 Global Insurance Report shows Allianz as a top premium collector across multiple regions. Allianz.com

Chubb — P&C powerhouse

• FY-2024 highlight: Chubb disclosed $55.4 billion in P&C GWP for 2024 — a clear sign of the company’s scale in commercial and personal lines. about.chubb.com

Berkshire Hathaway — diversification & reinsurance power

• Business mix: massive insurance float from GEICO, Berkshire Re & National Indemnity; reinsurance and specialty underwriting produce very large premiums when aggregated. agencychecklists.com

Industry trends shaping premiums in FY-2025

1. Inflation & higher claims costs: Rising replacement and medical inflation have pushed premium increases in P&C (auto, homeowners) and health — insurers have adjusted pricing, contributing to higher premium volumes in nominal terms. Insurify

2. Natural catastrophe losses and reinsurance pricing: Elevated catastrophe losses in recent years led to higher reinsurance pricing; reinsurers and primary carriers adjusted renewal prices, affecting premium levels. Large reinsurers posted material premium inflows tied to tightened reinsurance markets. ReinsuranceNe.ws

3. Regulatory & accounting changes (IFRS17): Implementation of IFRS 17 in some jurisdictions changed how premium and insurance service revenue are reported — making cross-company comparisons trickier and forcing many insurers to publish new reconciliations in 2024–2025 reporting cycles. Industry compilers have adjusted ranking methodologies accordingly. bestsreview.ambest.com

4. Health insurance growth in the U.S.: Demographic trends and Medicare Advantage growth have kept U.S. health insurers’ premium/revenue streams large — heavily influencing global premium rankings where such revenues are included.

   Conclusion

   Top 20 Insurance Companies Based on Premiums Received — FY 2025, the insurance industry’s performance in FY 2025 has reaffirmed its central role in safeguarding financial security, promoting stability, and enabling economic recovery in a rapidly changing world. The Top 20 Insurance Companies Based on Premiums Received stand as clear examples of operational excellence, strong market positioning, and customer trust. Their ability to generate high premium volumes is not merely a reflection of aggressive marketing or broad distribution networks—it is also a testament to their reliability, claims responsiveness, diverse product portfolios, and adaptability to shifting risk landscapes.

   A closer examination of these leaders reveals several shared traits: a deep commitment to digital innovation, a focus on customer experience, and an ability to anticipate and respond to emerging risks. In FY 2025, insurers who embraced technology—such as AI-powered underwriting, data-driven risk assessment, and digital claims processing—were able to streamline operations, reduce costs, and deliver faster, more efficient services. Likewise, companies that invested in customer-centric approaches, such as personalized policies and 24/7 support, strengthened policyholder loyalty and drove premium growth.

   Global expansion has also played a significant role. Many of these top 20 companies have strategically positioned themselves in high-growth markets, capitalizing on increasing insurance penetration in developing economies and expanding their product lines to meet local needs. In parallel, their resilience during global crises—be it economic volatility, natural disasters, or public health emergencies—has reinforced their reputation as trustworthy, stable institutions.

   However, premium volume alone is not the sole indicator of an insurer’s quality. While it reflects financial strength and market share, it should be considered alongside other factors such as claims settlement ratios, solvency margins, and customer satisfaction scores. This ensures a holistic understanding of an insurer’s true value and performance.

   As we move forward, the companies on this list are likely to face new challenges—ranging from climate-related risks to the disruptive potential of insurtech startups—but their FY 2025 performance suggests they are well-prepared to adapt and thrive. For policyholders, these rankings provide a roadmap to the most financially robust and customer-focused insurers. For industry observers, they offer a glimpse into the evolving strategies that will define the next era of global insurance leadership.