Top 10 Largest Insurance Companies in 2025 by Revenue and Market Value

Leading the insurance sector in 2024, UnitedHealth Group, Berkshire Hathaway, and CVS Health headline the list of the world's largest insurance companies by revenue.

Insurance providers play a crucial role in managing risk for individuals, businesses, and institutions, offering policies that cover everything from health, accidents, property damage, to professional liabilities. This ranking includes publicly traded firms in the U.S. and their ADRs, based on TradingView data as of July 19, 2024.

Key Highlights

• UnitedHealth Group tops the list as the highest revenue-generating insurance company.
• Insurance coverage spans multiple sectors including health, property, casualty, and professional liability.
• Top companies maintain significant market presence across the Americas, Asia, Europe, Middle East, and Africa.

Important Notice

Some companies trade over-the-counter (OTC) in the U.S., which may involve higher transaction costs compared to exchange-listed stocks and could impact investment returns.

#1 UnitedHealth Group (UNH) - $371.62B Revenue (2024)

• Net Income: $22.38 billion
• Market Cap: $519.33 billion
• 1-Year Return: 11.37%
• Exchange: NYSE

Founded in 1977 and headquartered in Minneapolis, MN, UnitedHealth Group operates through Optum and UnitedHealthcare, offering insurance plans, data analytics, pharmacy services, and healthcare solutions to millions worldwide.

#2 Berkshire Hathaway (BRK.B) - $364.48B Revenue (2024)

• Net Income: $96.22 billion
• Market Cap: $947.53 billion
• 1-Year Return: 28.14%
• Exchange: NYSE

Based in Omaha, NE, Berkshire Hathaway is a diversified conglomerate owning major insurance subsidiaries like GEICO, providing primary and reinsurance across various sectors.

#3 CVS Health Corp (CVS) - $358.27B Revenue (2024)

• Net Income: $8.34 billion
• Market Cap: $75.07 billion
• 1-Year Return: -19.37%
• Exchange: NYSE

CVS Health, headquartered in Woonsocket, RI, combines retail healthcare with extensive insurance offerings including health benefits, pharmacy services, and wellness programs.

#4 Cigna Group (CI) - $195.19B Revenue (2024)

• Net Income: $5.16 billion
• Market Cap: $96.45 billion
• 1-Year Return: 15.69%
• Exchange: NYSE

Bloomfield, CT-based Cigna focuses on health services and insurance products through Evernorth and Cigna Healthcare segments, serving governments, employers, and individuals globally.

#5 Centene Corporation (CNC) - $154.00B Revenue (2024)

• Net Income: $2.70 billion
• Market Cap: $35.38 billion
• 1-Year Return: -4.07%
• Exchange: NYSE

Centene, headquartered in St. Louis, MO, specializes in government-sponsored programs like Medicaid and Medicare, alongside commercial insurance and ancillary health services.

#6 Allianz SE (ALIZY) - $134.75B Revenue (2024)

• Net Income: $9.23 billion
• Market Cap: $111.61 billion
• 1-Year Return: 18.69%
• Exchange: OTC Markets

With roots dating back to 1890, Munich-based Allianz offers a broad spectrum of insurance and asset management services globally, including property, casualty, health, and life insurance.

#7 Ping An Insurance (PNGAY) - $125.37B Revenue (2024)

• Net Income: $12.09 billion
• Market Cap: $95.30 billion
• 1-Year Return: -29.76%
• Exchange: OTC Markets

Founded in 1988 and headquartered in Shenzhen, China, Ping An is a financial services powerhouse with diversified operations spanning insurance, banking, asset management, and technology innovation.

#8 Humana Inc (HUM) - $106.44B Revenue (2024)

• Net Income: $2.49 billion
• Market Cap: $46.22 billion
• 1-Year Return: -14.98%
• Exchange: NYSE

Louisville, KY-based Humana focuses on Medicare and government health plans, complemented by CenterWell, its pharmacy and primary care division.

#9 AXA SA (AXAHY) - $93.68B Revenue (2024)

• Net Income: $7.57 billion
• Market Cap: $78.69 billion
• 1-Year Return: 14.18%
• Exchange: OTC Markets

Paris-headquartered AXA operates across multiple geographies offering life, property, casualty insurance, and asset management services with over 147,000 employees worldwide.

#10 Münchener Rückversicherungs-Gesellschaft (MURGY) - $69.98B Revenue (2024)

• Net Income: $4.98 billion
• Market Cap: $66.54 billion
• 1-Year Return: 32.61%
• Exchange: OTC Markets

Munich-based Munich Re is a global leader in reinsurance and insurance, serving clients across continents with diverse segments including ERGO and reinsurance business lines.

Largest Insurance Company Globally

UnitedHealth Group holds the title of the largest insurance company by revenue in 2024.

Most Valuable Insurance Company Worldwide

Though UnitedHealth leads in revenue, Berkshire Hathaway surpasses all peers in net income and overall market capitalization.

Top Insurance Company in the United States

Ranking depends on metrics, but UnitedHealth Group remains a dominant force in the U.S. insurance market.

Final Thoughts

The insurance industry in 2024 is shaped by these top 10 companies: UnitedHealth Group, Berkshire Hathaway, CVS Health, Cigna, Centene, Allianz, Ping An, Humana, AXA, and Munich Re, each playing a pivotal role in global risk management and healthcare.

All information is provided for educational purposes on ZAMONA. Readers should consider their own investment decisions carefully. The author holds no financial stake in the companies mentioned as of publication.

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