The Insurance Sector is much endowed with some of the major corporates of the world. Most of these insurance companies function in various countries through forming Joint Ventures taking advantage of the local establishments while some also function on an independent level. The list of top insurance companies in world includes big names like Berkshire Hathaway, AXA and Ping AN. MetLife, ING Group, Japan Post Holdings & Prudential Financial are some of the other prominent insurance companies along with Generali, Prudential PLC and Nippon Life Insurance, which complete the list. Here is the list of the top 10 insurance companies in world 2016 which is based on revenues and assets.
Quick Glance :
The Top Insurance Companies in World 2016 are:
1st Berkshire Hathaway
3rd Ping AN
4th Metlife Insurance
5th ING Group
6th Japan Post Holdings
7th Prudential Financial
9th Prudential PLC
10th Nippon Life Insurance
For More details about parameters and rankings, read on.
1. Berkshire Hathaway
Well known for its control and authority by the American business financier, speculator and humanitarian, Warren Buffet, Berkshire Hathaway is an American multinational combination holding organization.
Image: company website
It has always highlighted in the Top 5 on the protection business by numerous rating scales throughout the years. This has principally been because of its monstrous client base and colossal incomes which are significantly more than some other protection player in the business sector.
The company has been engaged with some of the global brand names like Coca Cola, IBM etc. Established in 1839 by Oliver Chace, the organization has its central station in Omaha, United States. The gathering administrator, President and CEO is Warren Buffet and the organization workers more than 331000 individuals.
Becoming huge as for budgetary viewpoint Berkshire Hathaway arrived at the midpoint of a yearly development in book estimation of 19.7% to its shareholders in the course of the most recent 49 years utilizing a lot of capital, and insignificant obligation. Berkshire Hathaway is the fifth biggest open organization on the planet as indicated by Forbes Global 2000 rundown and equation. The venture choices gave to individuals incorporate Diversified speculations, property and loss protection, life coverage among some more.
The lion’s share of Berkshire’s huge security reinforcements are assessed AAA by Standard and Poor’s Corporation, the most astonishing Financial Strength Rating named by Standard and Poor’s, and are evaluated A++ (pervasive) by A. M. Best with respect to their money related condition and working execution.
Total Assets: $552 Bn
Revenue: $211 Bn
Step 1: Top 20 companies were shortlisted based on their revenues and market cap.
Step 2: 3 parameters Revenues and Total assets were assigned weighting factors of 0.8 and 0.2 bringing into influence the importance of revenues in the insurance business which is much more than the importance of total assets.
Step 3: The weighted averages were calculated for each of the company in the top 20 list
Step 4: Ranks were establishment depending upon the maximum weight of this weighted average as factor.