Biggest insurance companies in the world

Global insurance premiums grew by 2.7 per cent in inflation-adjusted terms in 2010 to $4.3 trillion, climbing above pre-crisis levels. The return to growth and record premiums generated during the year followed two years of decline in real terms.

Life insurance premiums increased by 3.2 per cent in 2010 and non-life premiums by 2.1 per cent. While industrialised countries saw an increase in premiums of around 1.4 per cent, insurance markets in emerging economies saw rapid expansion with 11 per cent growth in premium income.

Let's take a look at some of the biggest insurance companies in the world. Unfortunately, no Indian company is listed in the top 20.

NOTE: Courtesy, Wikipedia and Economy Watch

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China Life Insurance

Global rank: 1

China Life Insurance Company Limited is the largest life insurer in the People's Republic of China. The company offers individual life insurance, group life, accident insurance, and health insurance policies.

China Life commands 45 per cent of that market, and holds the number one position in 29 of the country's 31 major markets.

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Ping An Insurance Group

Global rank: 2

Ping An has operations across all of the People's Republic of China, and in Hong Kong and Macau through Ping An Insurance Overseas. Ping An has branches or a representative agent in 150 countries.

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Allianz

Global rank: 3

Allianz is a German multinational financial services company headquartered in Munich, Germany. Its core business and focus is insurance.

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AXA Group

Global rank: 4

AXA is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries.

The AXA group of companies engage in life, health and other forms of insurance, as well as investment management.

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ING

Global rank: 5

ING Group is a global financial institution offering retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services.

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Generali Group

Global rank: 6

Assicurazioni Generali is the largest insurance company in Italy and one of the largest in Europe. It has its headquarters in Trieste.

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Zurich Financial Services

Global rank: 7

Zurich Financial's general insurance serves individuals, small and medium-sized businesses, commercial enterprises and major multinational corporations. General insurance is the largest segment.

Within general insurance, individual business areas focus on specific segments and markets where they see opportunities for sustained and profitable growth.

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Manulife Financial Corporation

Global rank: 8

Manulife Financial Corporation is a Canadian insurance company and financial services provider. Manulife Financial's global head office is located in Toronto, Canada, and the Company has operations in 21 countries and territories worldwide.

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China Pacific Insurance Company

Global rank: 9

CPIC Group is the second-largest property insurance company (after People's Insurance Company of China). It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries.

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Munich Re

Global rank: 10

Munich Re Group is a reinsurance company based in Munich, Germany. It is one of the world's leading reinsurers. ERGO, a Munich Re subsidiary, is the Group's primary insurance arm.

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MetLife

Global rank: 11

MetLife is the holding corporation for the Metropolitan Life Insurance Company and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries.

The firm was founded on March 24, 1868.

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The Travelers Companies

Global rank: 12

The Travelers Companies is the largest American insurance company by market value. It is also the second-largest writer of US commercial property casualty and the third largest writer of US personal insurance through independent agents.

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Prudential

Global rank: 13

Prudential is a multinational life insurance and financial services company headquartered in London, United Kingdom.

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Tokio Marine Holdings

Global rank: 14

Tokio Marine Holdings is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/casualty insurance group in Japan in terms of revenue, employing 29,000 people in 38 countries worldwide.

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QBE Insurance Group

Global rank: 15

QBE Insurance Group Limited is an Australian-based general insurance provider, providing insurance services mainly to the Asia Pacific region, but also America and Europe. It has offices in 45 countries.

Although the company is widely diversified, it is weighted towards property, motor vehicle and marine insurance.

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Allstate

Global rank: 16

The Allstate Corporation is the second-largest personal lines insurer in the United States (behind State Farm) and the largest that is publicly held.

The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993.

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Swiss Re

Global rank: 17

Swiss Reinsurance Company is a Swiss reinsurance company. It is the world's second-largest reinsurer, after having acquired GE Insurance Solutions.

The company has its headquarters in Zurich.

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Sun Life Financial Inc

Global rank: 18

Sun Life Financial is an international financial services company known primarily as a life insurance company. Based in Toronto, Canada, Sun Life and its partners provide insurance, retirement and investment solutions for individuals and businesses around the world, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.

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Aviva

Global rank: 19

Aviva is a British multinational insurance company headquartered in London, United Kingdom. It is the market leader in both general insurance and life and pensions in the UK and has major businesses in Asia, Continental Europe and North America.