AM Best Ranks UnitedHealth Group and AXA as World’s Largest Insurers

2019 DEC 18 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- UnitedHealth Group Incorporated occupied the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for a fifth straight year, with $178.1 billion in net premiums written (NPW) in 2018. In addition, AXA S.A. moved past Allianz SE into the No. 1 spot on AM Best’s ranking by 2018 non-banking assets.

AM Best released the rankings of the world’s largest global insurance companies, by NPW and non-banking assets, in the Dec. 2, 2019, issue of BestWeek. The two rankings are based on BestLink data and additional research. Overall, the annual rankings saw some movement at the top, as two companies moved up to enter the top five in the 2018 asset ranking, with four of the top five insurers ranked by NPW remaining from the previous year.

U.S.-based health insurance carriers made the biggest moves in the NPW ranking, highlighted by Centene Corp. rising to No. 12 from No. 18, and Kaiser Foundation Group of Health Plans moving into the No. 5 spot after finishing at No. 7 in the previous ranking. The impact of mergers and acquisitions was evident in the rankings: CVS Health Corp. Group came in at No. 20 on the NPW ranking following its acquisition of Aetna Inc. AXA S.A. remained at No. 2 in the NPW ranking, but saw its NPW increase by 3.2%, mainly due to its acquisition of XL Group in 2018.

In the assets ranking, Nippon Life Insurance Company moved to No. 4 from No. 7, trading places with Japan Post Insurance Co. Ltd. Berkshire Hathaway Inc. moved up one spot from No. 6 in the previous ranking to enter the top five.

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