The World's Largest Insurance Companies 2023: Who's Number One?

According to Companies Market Cap data, UnitedHealth is currently the world's largest insurance company. The United States-based company had a market capitalization of US$447.96 billion as of September 15, 2023.

As one of the world's largest health insurance giants, UnitedHealth has two distinct insurance service platforms: UnitedHealthcare, which provides conventional health coverage, and Optum, which is technology-based.

Ping An Insurance ranks second, with a market capitalization of US$117.01 billion. This China-based company is a pioneer in the application of artificial intelligence (AI) in the insurance industry.

Ping An Insurance has developed AI applications for influenza, diabetes, and other diseases. They also possess IT systems ranging from facial recognition technology to voiceprint recognition technology.

Third is China Life Insurance, with a market capitalization of US$114.55 billion. In addition to providing long-term individual and group insurance, this company also offers short-term accident and health insurance policies.

Companies Market Cap compiled this ranking from a total of 204 insurance companies listed on stock exchanges. The accumulated market capitalization of all these companies is estimated at US$3.392 trillion.

Here is a complete list of the top 10 insurance companies with the largest market capitalization in the world as of September 15, 2023:

1. UnitedHealth: US$447.96 billion
2. Ping An Insurance: US$117.01 billion
3. China Life Insurance: US$114.55 billion
4. Elevance Health: US$104.71 billion
5. Allianz: US$99.91 billion
6. Marsh & McLenanan Companies: US$98.07 billion
7. AIA: US$96.38 billion
8. Chubb: US$87.06 billion
9. Cigna: US$83.85 billion
10. Progressive: US$81.66 billion

(See also: [This is the Number of Insurance Companies and Providers in Indonesia in 2022](https://databoks.katadata.co.id/datapublish/2023/03/08/ini-jumlah-perusahaan-dan-penyelenggara-asuransi-di-indonesia-pada-2022))