35 Largest Life & Health Insurance Companies by Market Cap 2017

Like banks, if not more than banks, insurance companies benefit from economies of scale and diversification that comes from pooling diverse risks.  What should stand out looking at this list of some of the world’s largest life insurance and health insurance companies is how much larger the Asian insurers, even though the US still has somewhat bigger banks.  This likely reflects the larger role life insurance companies in Asia play as a place of actually holding and investing long-term assets, rather than investors here buying them directly or through mutual funds or ETFs.

RIC Name  USD Market Cap (Millions)
2628.HK / LFC China Life Insurance Co Ltd  $95,713
2318.HK Ping An Insurance Group Co of China Ltd  $93,479
1299.HK AIA Group Ltd  $68,022
AXAF.PA / AXAHY.PK AXA SA  $62,125
MET Metlife Inc  $59,991
6178.T Japan Post Holdings Co Ltd  $56,237
PRU.L / PUK Prudential PLC  $51,995
MFC Manulife Financial Corp  $48,073
PRU Prudential Financial Inc  $45,640
2601.HK China Pacific Insurance Group Co Ltd  $35,150
AFL Aflac Inc  $28,473
GWO.TO Great-West Lifeco Inc  $26,473
AV.L Aviva PLC  $24,640
SLF Sun Life Financial Inc  $24,161
GASI.MI Assicurazioni Generali SpA  $23,654
8750.T Dai-ichi Life Holdings Inc  $20,079
1336.HK New China Life Insurance Co Ltd  $18,364
PFG Principal Financial Group Inc  $17,005
LNC Lincoln National Corp  $15,487
OML.L Old Mutual PLC  $12,538
AEGN.AS / AEG Aegon NV  $11,658
NN.AS NN Group NV  $11,524
UNM Unum Group  $10,427
SLHN.S Swiss Life Holding AG  $9,323
SL.L Standard Life PLC  $9,248
8795.T T&D Holdings Inc  $9,021
TMK Torchmark Corp  $8,858
VOYA.K Voya Financial Inc  $7,802
0966.HK China Taiping Insurance Holdings Co Ltd  $7,536
8729.T Sony Financial Holdings Inc  $6,796
GELA.SI Great Eastern Holdings Ltd  $6,726
BALN.S Baloise Holding Ltd  $6,376
MPL.AX Medibank Private Ltd  $5,663
CGF.AX Challenger Ltd  $4,686
PHNX.L Phoenix Group Holdings  $3,655

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