20 World’s Largest General Insurance Companies by Revenue
The global insurance industry is one of the largest and most important parts of the financial system. Insurance companies help individuals, businesses, governments, and institutions protect themselves against financial losses caused by accidents, natural disasters, property damage, vehicle accidents, liability claims, cyber incidents, and other unexpected events.
Among the many insurance segments, general insurance is particularly important because it covers property and casualty risks rather than primarily focusing on life insurance. The world's largest insurers operate across multiple markets and manage enormous portfolios of risks.
Revenue is one useful indicator of corporate scale, although it should not be used alone to determine which company is the largest. Insurance groups report different measures, including insurance revenue, gross written premiums, total business volume, and consolidated revenue. For that reason, the figures below use the latest annual revenue or closely related revenue measure reported by each company.
What Are the World’s Largest General Insurance Companies?
The world’s largest general insurance companies include Berkshire Hathaway, State Farm, AXA, Allianz, Ping An Insurance, PICC, Chubb, Zurich Insurance Group, Munich Re, Progressive, Allstate, Travelers, AIG, Tokio Marine Holdings, Sompo Holdings, MS&AD Insurance Group, Swiss Re, Hannover Re, Generali, and CNA Financial.
🌍 World’s Largest General Insurance Companies
20 World Largest General Insurance Company by Revenue
✔ 1. Berkshire Hathaway
Berkshire Hathaway is one of the most financially powerful insurance groups in the world. Its insurance operations include GEICO, Berkshire Hathaway Primary Group, and major reinsurance businesses.
The company is unusual because insurance represents only one part of a much larger conglomerate that also owns businesses in railroads, energy, manufacturing, retail, and other industries.
For 2025, Berkshire Hathaway reported enormous consolidated revenue, reflecting the scale of its diversified businesses. Its insurance operations remain particularly important because they generate substantial premiums and provide Berkshire with a large insurance float that can be invested.
Berkshire's combination of property and casualty insurance, reinsurance, and investment capital makes it one of the most influential participants in the global general insurance market.
✔ 2. State Farm
State Farm is one of the largest insurance organizations in the United States and has a particularly strong position in automobile and property insurance.
Its business is heavily concentrated on personal lines, including vehicle, home, and property coverage. This gives State Farm an enormous customer base and substantial premium volume.
State Farm reported $132.3 billion in total revenue for 2025, compared with $123.0 billion in 2024. The figure includes premium revenue, investment income, and realized capital gains and losses.
The company's scale makes it one of the most important providers of general insurance in the American market.
✔ 3. AXA
AXA is one of Europe's largest insurance groups and has a major international presence.
Its property and casualty business is particularly important to the global general insurance market. AXA provides protection for individuals, businesses, multinational corporations, and institutions.
AXA reported €116 billion in gross written premiums and other revenues for 2025, representing growth of approximately 6% from 2024. The company also highlighted strong performance from its property and casualty operations and AXA XL Insurance.
AXA's international scale allows it to serve customers across Europe, North America, Asia, and other major markets.
✔ 4. Allianz
Allianz is another major European insurance group with a global presence.
The company operates across property and casualty, life and health insurance, and asset management. Its property and casualty operations make Allianz a major force in global general insurance.
For 2025, Allianz reported €102.8 billion of insurance revenue. Its total business volume was approximately €186.9 billion, demonstrating the enormous scale of the group.
Allianz benefits from a highly diversified geographic footprint and serves both individual customers and large corporations.
✔ 5. Ping An Insurance
Ping An Insurance is one of China's largest financial and insurance groups.
The company operates across life insurance, property and casualty insurance, banking, asset management, healthcare, and technology.
Its property and casualty operations are particularly important to China's rapidly developing insurance market. The company's scale is supported by China's huge population, growing vehicle ownership, expanding businesses, and increasing demand for property protection.
Ping An's broad financial ecosystem also gives it significant opportunities to use technology and data analytics in general insurance, particularly in automobile and commercial insurance.
✔ 6. PICC
The People's Insurance Company of China, commonly known as PICC, is one of China's leading insurance groups and one of the world's most significant property and casualty insurance organizations.
PICC has extensive operations in automobile, property, agricultural, liability, commercial, and other forms of general insurance.
China's enormous economic scale gives PICC access to a huge insurance market. Industrial facilities, infrastructure projects, vehicles, agricultural assets, and commercial enterprises all create demand for insurance protection.
PICC is therefore an important global competitor in the property and casualty insurance sector.
✔ 7. Chubb
Chubb is one of the world's largest dedicated property and casualty insurance groups.
The company operates in more than 50 countries and territories and specializes in commercial insurance, personal insurance, specialty coverage, professional liability, cyber insurance, marine insurance, and property protection.
Chubb reported $59.4 billion in total revenue for 2025, compared with $55.8 billion in 2024. Net premiums earned reached approximately $53.0 billion.
Chubb's strong commercial and specialty underwriting capabilities make it one of the most important global general insurance companies.
✔ 8. Zurich Insurance Group
Zurich Insurance Group is a major Swiss insurer with extensive operations in commercial and personal property and casualty insurance.
Its commercial insurance business serves multinational corporations and medium-sized businesses, while its retail operations provide protection for individuals.
Zurich has developed expertise in property, casualty, liability, motor, marine, construction, cyber, and other specialty risks.
Its global diversification and strong commercial insurance capabilities have helped make Zurich one of the most recognizable names in general insurance.
✔ 9. Munich Re
Munich Re is one of the world's largest reinsurance companies.
Although reinsurers operate behind primary insurers, their role is essential to the general insurance industry. Reinsurance allows insurance companies to transfer part of their exposure to major catastrophes and other large losses.
Munich Re reported approximately €60 billion of insurance revenue for 2025, reflecting the enormous scale of its reinsurance and insurance operations.
The company is particularly important in catastrophe risk, large industrial risks, climate-related exposure, and complex commercial insurance.
✔ 10. Progressive
Progressive is one of the largest property and casualty insurers in the United States and is especially well known for automobile insurance.
The company has built its position through direct insurance distribution, pricing technology, data analytics, and a large network of independent agents.
Progressive reported $87.7 billion in total revenue for 2025, compared with $75.4 billion in 2024. Net premiums earned reached approximately $81.7 billion.
Its strong growth demonstrates the continuing importance of automobile insurance within the broader general insurance market.
✔ 11. Allstate
Allstate is another major U.S. property and casualty insurer.
Its business includes automobile, homeowners, renters, and other insurance products.
Allstate reported $67.7 billion in total revenue for 2025. Property and casualty insurance premiums represented the largest component, reaching approximately $60.5 billion.
The company's strong position in personal property and automobile insurance gives it an important role in American general insurance.
✔ 12. Travelers
Travelers is one of the leading commercial and personal property and casualty insurers in the United States.
The company provides insurance for businesses, homeowners, automobiles, and a wide range of specialty risks.
Travelers reported $48.8 billion in total revenue for 2025, up from approximately $46.4 billion in 2024.
Its commercial insurance business is particularly significant because businesses require protection against property damage, liability, cyber incidents, workers' compensation risks, and business interruption.
✔ 13. AIG
American International Group, commonly known as AIG, is a major global insurance organization with a strong focus on commercial and specialty risks.
AIG's general insurance business covers property, casualty, liability, financial lines, marine, aviation, and other specialized exposures.
Its international network allows AIG to provide insurance solutions to multinational corporations operating across multiple jurisdictions.
AIG remains particularly influential in commercial general insurance because of its expertise in complex and high-value risks.
✔ 14. Tokio Marine Holdings
Tokio Marine Holdings is one of Japan's largest insurance groups and has developed an extensive international presence.
Its property and casualty business covers automobile, commercial property, liability, marine, specialty, and other risks.
For the fiscal year ended March 2026, Tokio Marine's insurance operations remained among the largest in Asia, supported by both its Japanese operations and international expansion.
The company has increasingly emphasized international diversification, making it an important competitor in global general insurance.
✔ 15. Sompo Holdings
Sompo Holdings is another major Japanese insurance group with an increasingly global business.
For the fiscal year ended March 31, 2026, Sompo reported ¥5.37 trillion in insurance revenue. Its insurance service result reached approximately ¥588.2 billion.
Sompo's operations include automobile, property, commercial, specialty, and other forms of insurance.
The company has expanded internationally while maintaining a strong position in Japan.
✔ 16. MS&AD Insurance Group
MS&AD Insurance Group is one of Japan's largest insurance organizations.
The group operates through major insurance businesses covering automobiles, property, liability, marine, financial risks, and other areas.
Japan's highly developed automobile and commercial insurance markets provide MS&AD with a substantial domestic foundation, while international operations give the group additional diversification.
Its scale and broad product portfolio make MS&AD an important participant in Asian and global general insurance.
✔ 17. Swiss Re
Swiss Re is one of the world's leading reinsurers.
The company provides reinsurance solutions to primary insurance companies across property, casualty, life, and specialty markets.
Its role is especially important when insurers need protection against very large losses. Catastrophe risks such as hurricanes, earthquakes, floods, and other major events can create losses too large for a single primary insurer to absorb.
Swiss Re therefore forms an important layer of the international general insurance system.
✔ 18. Hannover Re
Hannover Re is another major global reinsurance company headquartered in Germany.
The company provides reinsurance for property and casualty risks as well as life and health business.
Its property and casualty operations include catastrophe reinsurance, liability, marine, aviation, engineering, and specialty risks.
Hannover Re's business model illustrates why reinsurance is essential to general insurance. By distributing risk between primary insurers and reinsurers, the global insurance system can handle increasingly large and complex exposures.
✔ 19. Generali
Generali is one of Europe's oldest and largest insurance groups.
Based in Italy, Generali operates internationally across insurance and asset management.
Its insurance business includes property and casualty coverage, life insurance, health protection, and commercial insurance.
Generali has a particularly strong presence in European markets and continues to expand its capabilities in areas such as corporate insurance, climate risk, and specialty coverage.
Its property and casualty operations make Generali an important European player in general insurance.
✔ 20. CNA Financial
CNA Financial is a major U.S. commercial property and casualty insurer.
Unlike diversified financial groups, CNA has a strong concentration in commercial insurance, giving it specialized expertise in business risks.
CNA reported $14.99 billion in total revenue for 2025, including approximately $10.9 billion in net earned premiums and $2.56 billion in net investment income. (SEC)
The company's commercial focus includes property, casualty, professional liability, specialty insurance, and other business risks.
✔ Why These Companies Dominate General Insurance
The world's largest general insurance companies share several important characteristics.
First, they have enormous customer bases and premium volumes. A large number of policies allows insurers to spread risk across millions of customers.
Second, large insurers have significant capital resources. Insurance claims can rise dramatically following hurricanes, earthquakes, floods, wildfires, industrial accidents, or other catastrophes.
Third, international diversification can reduce dependence on a single market. A global insurer may generate business across Europe, North America, Asia, and emerging markets.
Technology is another major advantage. Artificial intelligence, machine learning, telematics, satellite imagery, digital claims processing, and predictive analytics are transforming insurance underwriting.
Large insurers can invest billions in these technologies and use enormous datasets to improve pricing and risk assessment.
✔ The Future of General Insurance
The global general insurance industry is entering a period of major change.
Climate-related disasters are increasing pressure on insurers to improve catastrophe modeling and pricing. Cybersecurity risks are creating demand for new forms of cyber insurance. Artificial intelligence is changing both the risks customers face and the tools insurers use to evaluate those risks.
Automobile insurance is also changing as connected vehicles, driver-assistance systems, electric vehicles, and autonomous-driving technology develop.
Commercial insurance is becoming increasingly complex as companies operate international supply chains and rely heavily on digital infrastructure.
These trends favor insurers with strong capital, sophisticated technology, extensive data, and global underwriting expertise.
✔ Conclusion
The world's largest general insurance companies include global groups such as Berkshire Hathaway, State Farm, AXA, Allianz, Ping An, PICC, Chubb, Zurich Insurance Group, Munich Re, Progressive, Allstate, Travelers, AIG, Tokio Marine, Sompo, MS&AD, Swiss Re, Hannover Re, Generali, and CNA Financial.
Their reported revenue demonstrates the enormous financial scale of the global insurance industry. However, revenue alone does not determine the strength of an insurer. Underwriting profitability, capital adequacy, claims performance, investment results, geographic diversification, and risk-management capabilities are equally important.
As climate risk, cyber threats, technology, and global economic uncertainty continue to evolve, the world's leading general insurance companies will remain essential to the functioning of the global economy. Their ability to absorb risk and provide financial protection allows households, businesses, infrastructure projects, and entire economies to recover from unexpected losses and continue growing.