UNITEDHEALTH GROUP, ALLIANZ SECURE TOP SPOTS IN AM BEST’S WORLD’S LARGEST INSURER RANKING

KUALA LUMPUR, Jan 5 (Bernama) -- UnitedHealth Group Incorporated occupied the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for a seventh straight year, with US$201.5 billion in net premiums written (NPW) in 2020. (US$1 = RM4.192)

In addition, Allianz SE and AXA S.A. occupied the No. 1 and No. 2 spots, respectively, in AM Best’s ranking by 2020 non-banking assets, according to a statement.

AM Best released the rankings of the world’s largest global insurance companies, by NPW and non-banking assets, in the Jan 3, 2022, issue of BestWeek. The two rankings are based on BestLink data and additional research.

BestWeek is published weekly by AM Best for insurance professionals, and is available as part of a subscription to the Best’s News & Research service.

Overall, two major Chinese insurers saw big gains in the ranking by assets, with Ping An Insurance (Group) Company of China Ltd and China Life Insurance (Group) Co Ltd improving on their Top 10 rankings from a year ago.

U.S. health insurers dominated the ranking by NPW, as membership gains in government programmes played a heavy role in creating premium growth at these companies.

In particular, Centene Corp. rose to fourth place from 10th as its NPW grew year over year by nearly 50 per cent, boosted by its acquisition of WellCare Health Plans in early 2020. Additionally, three other U.S.-based health insurers also saw double-digit NPW growth.

More details at www.ambest.com.

-- BERNAMA