Allianz was the largest life insurance company worldwide by market capitalization as of December 2023. AIA was the second largest life insurer globally, with market capitalization amounting to 93.1 billion U.S. dollars.
Life insurance in the U.S.
In the United States, MetLife is consistently the largest life insurer, followed by AIG, Prudential Financial, and Aflac. On many accounts both New York Life and Northwestern Mutual are larger life insurance providers than MetLife and Aflac, however they cannot be included on this list as they are private companies and therefore do not have a market capitalization.
How much larger is the U.S. life insurance market compared with other leading markets?
The life insurance market in United States is more than twice as large as the next largest market in terms of life insurance premiums written. Other leading world countries in terms of value of life insurance premiums written were Japan, Germany, China, and the United Kingdom. However, the gap between the U.S. and the other large insurance markets is even starker when non-life premiums are taken into account.
