financialtreat – will explain about The Best Life Insurance Company in the World Is Suitable which you will get in the following article. let’s look at this article carefully!
It is undeniable that currently insurance companies are one of the promising business fields. This is due to the public’s awareness of their needs that are starting to vary, becoming the main factor in this one financial product that is increasingly in demand.
However, not all insurance company products are owned by the public. It’s just that, there are some such as health insurance, travel insurance, to vehicle insurance that still remain the prima donna.
The Best Life Insurance Company in the World Is Suitable to Be Your Choice
These three insurance products are more often offered at once by an insurance company. The premiums also vary, of course, it will adjust to the financial condition of its customers. Please note, there are a number of the largest insurance companies in the world.
Almost all of them have branch offices in Indonesia. Because this insurance program aims at long-term finance, it would be better to choose insurance services from insurance companies that have clear quality and meet the criteria as the best insurance in the world.
To make it easier for you to choose the right insurance company, here we will provide information related to the best insurance companies in the world that help in choosing the insurance that suits your needs.
It should be noted that in choosing the best insurance, of course, you can not only look at the premium side, but also pay attention to how big the company’s network is. Because, by looking at how big the company is, it can ensure the opportunity to guarantee compensation to its customers. Here are the best insurance companies in the world, anyone?
1. Berkshire Hathaway
- Country of origin: United States of America
- Year of establishment: 1839
- Headquarters: Omaha, Nebraska, United States
- Key figures: Warren Buffet, Charlie Munger
First, there is the largest insurance company in the world that is already quite famous, namely Berkshire Hathaway. Based in Omaha, United States, this insurance company founded by Oliver Chace has a net profit of up to RP 7,334 trillion.
The profit itself is obtained not only from the sale of insurance, but also investments made in various business products such as transportation, property, to manufacturing.
2. Ping An Insurance
- Country of origin: China
- Year of establishment: 1988
- Headquarters: Shenzhen, China
- Key character: Jesica Tan
This insurance was established in 1988, Ping An Insurance has been trusted to manage Chinese insurance funds with a market capitalization of US$ 130.9 billion. Headquartered in Shenzhen, Guangdong, one of the figures is Ma Mingzhe.
3. UnitedHealth Group
- Country of origin: United States of America
- Year of establishment: 1977
- Headquarters: Minnetonka, Minnesota
- Key figures: Richard T. Burke, Stephen J. Hemsley
In addition to Ping An Insurance, this insurance company headquartered in the United States is also the best insurance company in the world. The estimated net profit reaches Rp 3,156 trillion.
In addition, UnitedHealth Group Inc. also provides a fairly diverse offering of health insurance products, both for individuals, retirees, the elderly, families, office employees, to military soldiers.
4. China Life Insurance
- Country of origin: China
- Year of establishment: 1949
- Head office: Beijing
- Key figures: Dairen Lin, Yang Minsheng
The next best insurance company in the world is China Life Insurance. The largest life insurance company in the PRC, to date, has held 45 percent of the country’s market with total assets of around USD 580.33 billion. Its success in recording large assets also made China Life included in the Fortune version of the Global 500, ranked 51st.
5. Allianz
- Country of origin: Germany
- Year of establishment: 1890
- Headquarters: Munich
- Key personalities: Oliver Bate, Helmut Perlet, Maximilian Zimmerer
Then, the other best insurance company in the world is Allianz Insurance. The company, which has its head office in Munich, Germany, is already well-known in various countries, including Indonesia.
Please note, in Indonesia itself, the total net profit obtained by PT Asuransi Allianz Life is worth IDR 1.17 trillion. Its profit value continues to increase by 48.66 percent year on year, which is also supported by investment income of IDR 2.48 trillion.
6. AIA Financial
- Country of origin: Hong Kong
- Year of establishment: 1919
- Headquarters: Shanghai, China
- Key character: Cornelius Vander Starr
In addition to Allianz, the next one included in the list of the best insurance companies in the world is AIA Financial. Founded in 1919, this insurance company, which also operates in Indonesia, was first established in Singapore and is headquartered in Hong Kong.
To date, its total net profit reached IDR 1,025 trillion in the second quarter of 2020. For information, the net profit obtained by AIA Financial itself moved up by IDR 763 billion when compared to the same period last year, which was only IDR 262 billion.
7. AXA
- Country of origin: France
- Year of establishment: 1817
- Headquarters: Paris
- Key: Thomas Buberl
AXA S.A has also been recognized as one of the largest insurance companies in the world. This insurance was founded in 1816. This global insurance company based in France has a net profit of about 1.4 billion Euros.
However, the profit obtained has actually decreased drastically by up to 39 percent due to the decline in assets and claims related to the coronavirus. Thus, his party again revised the company’s growth target while canceling the distribution of dividends to each shareholder.
8. Prudential Plc
- Country of origin: United Kingdom
- Year of establishment: 1848
- Headquarters: London
- Key personality: Paul Manduca
Furthermore, there is Prudential Plc. The company is a company engaged in financial services based in London. In 2020, this company was able to book a net profit of around USD2.18 billion. For information that in Indonesia, Prudential under the company name PT Prudential Life Assurance has managed to record assets of IDR 65.3 trillion as of the first quarter of 2020.
9. Anthem, Inc.
- Country of origin: United States of America
- Year established: 2004
- Headquarters: Indianapolis, Indiana, America
- Key character: Gail Koziara Boudreaux
One of the best insurance companies in the world is Anthem Incorporated. This insurance includes companies that continue to show an increase in terms of their net profit. In 2020, this insurance company from the United States, experienced an increase in revenue by 13.1 percent, which, its value became USD 104.21 billion with an estimated net profit of around USD4.80 billion.
10. Cigna
- Country of origin: United States of America
- Year established: 1981
- Headquarters: Bloomfield, Connecticut, America
- Key personality: David Cordani
As the best insurance company in the world, Cigna Insurance in the last year seems to be harvesting with a total net profit of USD 5.1 million. The profit obtained by the company continued to climb up to 94 percent, and led Cigna Insurance to be included in the Fortune version of the Global 500 with a position up 197 places.
Cigna Insurance itself is a world-class health insurance headquartered in the United States. In addition to excelling in its health insurance products, Cigna also offers life, accident, and disability and dental insurance.
11. Munich Re
- Country of origin: Germany
- Year of establishment: 1880
- Headquarters: Munich
- Key stores: Joachim Wenning, Bernd Pischetsrieder
Finally, the last largest insurance company in the world is Munich Re. For its head office located in Germany, this insurance company with a total of 5 thousand customers has managed to record revenues of up to USD72.53 billion in 2020. Meanwhile, for its own net profit, Munich Re was one of the insurance companies that increased by 11.8 percent to USD3.04 billion.
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Best Insurance Company Criteria
In choosing the best insurance, of course, it is very important for you to see the company that offers the insurance. The reason is, choosing the right insurance company and according to your needs is actually not so easy.
Of course, all insurance companies certainly think that they are the best. In order not to confuse you, it is important to know some of the criteria for a safe and best insurance company that can be understand as below.
- Company Reputation
- Broad Branches
- The Number of Customers
- Financial Strength
- Price Competition
The good news is, you can apply for it online whenever you need it, so you don’t have to bother visiting the office of the relevant insurance company anymore. Not only can you submit, the application can also compare all insurance products.
Namely, both health insurance and vehicle insurance. By comparing them, of course, you will get a good insurance product at the same time according to your needs and finances.