By revenue, the largest insurance company in the world is America’s UnitedHealth Group, a health insurer, followed by Berkshire Hathaway and Cigna. Measured by assets, Berkshire is now the largest. Health insurers dominate the revenue rankings, while Europe’s Allianz and AXA lead in traditional cover.
The largest insurance companies in the world (2026)
Ranked by revenue, US health insurers sit at the top — a reminder that in America, health coverage is a private, trillion-dollar business. UnitedHealth leads the world, ahead of Warren Buffett’s Berkshire Hathaway and the health insurer Cigna. Figures are for the 2024 fiscal year.
| Rank | Company | Country | Revenue (USD bn) |
|---|---|---|---|
| 1 | UnitedHealth Group | USA | 400.3 |
| 2 | Berkshire Hathaway | USA | 371.4 |
| 3 | Cigna Group | USA | 247.1 |
| 4 | Allianz | Germany | ~195 |
| 5 | Elevance Health | USA | 175.2 |
| 6 | Centene | USA | 163.1 |
| 7 | Ping An | China | 158.6 |
| 8 | China Life | China | ~139 |
| 9 | AXA | France | ~119 |
| 10 | Munich Re | Germany | ~66 |
Revenue for FY2024. Allianz, AXA and Munich Re report in euros, so their USD figures are approximate.
Revenue, assets, or market value?
“Largest” depends on the yardstick. By revenue, US health insurers lead because they handle enormous healthcare payments. By assets, Berkshire Hathaway recently overtook Allianz to become the world’s largest insurer, with about $1.15 trillion (AM Best). Europe’s Allianz and AXA and the reinsurer Munich Re remain the giants of traditional life and property cover. Worldwide, insurers collect roughly $7 trillion in premiums a year (Swiss Re).
Key takeaways
- UnitedHealth is the largest insurer by revenue (~$400 billion), a US health insurer.
- By assets, Berkshire Hathaway is now the largest, at about $1.15 trillion.
- Europe’s Allianz and AXA lead in traditional life and property insurance.
- Global insurance premiums total roughly $7 trillion a year (Swiss Re).
Frequently asked questions
What is the largest insurance company in the world?
By revenue, UnitedHealth Group of the United States, a health insurer with about $400 billion in revenue. By assets, Berkshire Hathaway is now the largest. The answer depends on the measure used.
Is Berkshire Hathaway an insurance company?
In large part, yes. Warren Buffett’s Berkshire Hathaway is a diversified holding company, but insurance — including GEICO and major reinsurers — is at its core, and it is now the world’s largest insurer by assets.
Which is the biggest insurer in Europe?
Allianz of Germany, one of the world’s largest life and property insurers and asset managers. France’s AXA and Germany’s reinsurer Munich Re are the other European heavyweights.
Sources
- UnitedHealth Group, FY2024 results — retrieved 2026-07-05 — unitedhealthgroup.com
- AM Best via Insurance Business, Berkshire largest insurer by assets, 2026 — retrieved 2026-07-05 — insurancebusinessmag.com
- Swiss Re Institute, sigma world insurance — retrieved 2026-07-05 — swissre.com
Last updated: July 4, 2026
Leave a Reply