2026 Rankings: Largest Global Insurance Companies by Assets and NPW

AM Best’s 2026 Rankings Reveal a Shifting Balance of Power Among Global Insurers

AM Best’s January 2026 update of the world’s largest insurance companies offers a clear snapshot of where scale, growth, and strategic momentum are converging across the global market. Based on nonbanking assets and net premiums written, the latest rankings underscore the continued strength of U.S.-based insurers, the resilience of European giants, and the steady presence of Asia’s largest carriers despite currency and economic pressures.

At the top of the nonbanking assets ranking, Berkshire Hathaway Inc. has taken the lead, edging past long time frontrunner Allianz SE. Berkshire’s $1.15 trillion in nonbanking assets marks a notable milestone and reflects the continued diversification and capital strength of its insurance operations. Allianz, after five years in the top position, now follows closely with $1.09 trillion, still firmly entrenched among the industry’s global heavyweights.

“Scale continues to matter, but disciplined capital deployment is increasingly what separates the leaders from the rest.”
Insurance industry analyst, AM Best

Health Insurers Continue to Dominate Premium Volume

On the net premiums written side, the story remains remarkably consistent. UnitedHealth Group Inc. once again leads the industry, posting $308.8 billion in net premiums written for 2024. This marks the company’s 11th consecutive year at the top of the ranking and reflects a 6.2 percent year over year increase.

The broader theme is the sustained dominance of health insurers, particularly those based in the United States. Four of the top five companies by net premiums written fall into this category, reinforcing the scale advantages and demographic tailwinds shaping the health insurance segment.

Centene Corp., Elevance Health Inc., and Kaiser Foundation Health Plan Group all retained their high rankings, highlighting the durability of managed care models even as cost pressures and regulatory scrutiny persist.

“Health insurers are benefiting from both scale and structural demand that continues to expand.”
Senior market strategist, global insurance sector

Steady Global Rankings Despite Economic Headwinds

Despite currency volatility and macroeconomic challenges, including a 3.2 percent devaluation of the Chinese yuan against the U.S. dollar in 2024, the upper tier of the rankings remains largely unchanged. China Life Insurance Group Co. and Ping An Insurance Group of China Ltd. continue to anchor Asia’s presence among the global leaders, while Prudential Financial Inc. maintains its position as a major U.S. based life and retirement provider.

This stability suggests that size, diversification, and geographic breadth continue to insulate the largest insurers from short term economic disruptionsThe rankings also reflect a balanced global footprint, with leading carriers spread across North America, Europe, and Asia.

Notable Growth Stories Worth Watching

One of the most eye catching developments in this year’s data is State Farm Group’s growth trajectory. The company recorded the largest percentage increase in net premiums written among major insurers, rising 16.4 percent to reach $114.47 billion. That level of growth stands out in a mature market and underscores the impact of pricing adjustments and strong policy retention.

Key developments shaping the 2026 rankings

• Strong premium growth among U.S. health insurers, continued asset leadership from diversified conglomerates, and stable global rankings despite currency and economic pressures.

Snapshot of the 2026 Rankings

What It Means for the Industry

Taken together, the 2026 rankings reinforce several long running industry themes. Scale remains critical, particularly as regulatory requirements, technology investments, and capital demands continue to rise. At the same time, health insurance remains a primary engine of premium growth, while diversified groups with strong investment portfolios are best positioned to lead on assets.

As AM Best’s data shows, leadership at the top is not just about size, but about adaptability. Insurers that can balance growth, capital discipline, and geographic reach are likely to remain at the forefront as the global insurance landscape continues to evolve.