Photographs: Suzanne Plunkett/Reuters
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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Biggest insurance companies in the world
Photographs: David Gray/Reuters
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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Biggest insurance companies in the world
Photographs: Christina Hu/Reuters
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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Biggest insurance companies in the world
Photographs: Alexandra Winkler/Reuters
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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Biggest insurance companies in the world
Photographs: Will Burgess/Reuters
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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Biggest insurance companies in the world
Photographs: Toussaint Kluiters/Reuters
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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Biggest insurance companies in the wor
Photographs: Remo Casilli/Reuters
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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Biggest insurance companies in the world
Photographs: Christian Hartmann/Reuters
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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Biggest insurance companies in the world
Photographs: Andrew Wallace/Reuters
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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Biggest insurance companies in the world
Photographs: Nir Elias/Reuters
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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Biggest insurance companies in the world
Photographs: Michaela Rehle/Reuters
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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Biggest insurance companies in the world
Photographs: Lucas Jackson/Reuters
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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Biggest insurance companies in the world
Photographs: Chip East/Reuters
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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Biggest insurance companies in the world
Photographs: Stefan Wermuth/Reuters
Prudential
Global rank: 13
Prudential is a multinational life insurance and financial services company headquartered in London, United Kingdom.
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Biggest insurance companies in the world
Photographs: Toru Hanai/Reuters
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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Biggest insurance companies in the world
Photographs: Daniel Munoz/Reuters
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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Biggest insurance companies in the world
Photographs: Robert Galbraith/Reuters
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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Biggest insurance companies in the world
Photographs: Arnd Wiegmann/Reuters
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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Biggest insurance companies in the world
Photographs: Mark Blinch/Reuters
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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Biggest insurance companies in the world
Photographs: Cathal McNaughton/Reuters
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.
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