General Insurance Companies

Top General Insurance Companies in World

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The general insurance industry plays a vital role in protecting individuals and businesses financially against losses from events like fires, accidents, thefts, and natural disasters. As of 2024, the top general insurance firms worldwide are leading the way in providing comprehensive and innovative insurance solutions across various sectors globally. This article will discuss the top 10 general insurance companies in the world in 2024, looking at their key financial metrics, market position, products/services offered, major markets served, and competitive advantages that make them global leaders in the general insurance domain.

Allstate Insurance Group – The Largest Publicly Traded P&C Insurer in America

Allstate is the largest publicly traded property and casualty (P&C) insurance company in the United States. Headquartered in Northfield Township, Illinois, Allstate provides auto, home, renters, motorcycle, condo, boat, and other personal property insurance products to over 16 million households across the country. 

With a market cap of over $35 billion, Allstate reported $12 billion in property-liability premiums and $46.6 billion in total assets making it one of the top general insurance groups globally. Known for its “You’re in Good Hands with Allstate” slogan and innovative usage-based auto insurance options, Allstate has effectively expanded its market share through independent agencies and direct distribution channels. Its broad risk management and investment expertise have solidified its position as an insurance leader both domestically and worldwide.

AXA XL – Specialist Commercial P&C and Reinsurance Solutions

AXA XL is a division of AXA Group providing commercial property, casualty and specialty insurance along with risk management services to corporate and institutional clients. XL has over 7,000 employees globally and an extensive underwriting presence across North America, Europe, Asia and Latin America.

With $15 billion in pre-tax revenues reported in 2022 and $77 billion in total P&C assets, AXA XL has become one of the largest commercial lines property casualty insurers internationally through its diverse coverages for marine, aviation, political risk, construction, cyber risk, professional liability and more. Under the AXA brand, it has also emerged as the #1 global P&C commercial lines insurer by leveraging data, technology and its reinsurance capabilities to deliver bespoke coverage and risk advisory solutions worldwide.

The Progressive Corporation – Auto Insurance Innovator in America

Ranking #4 on the Fortune 500 list, The Progressive Corporation is the #3 auto insurer in America and a leading commercial auto insurer servicing both individuals and businesses. Founded in 1937 and based in Mayfield, Ohio, Progressive manages over $60 billion in assets across its auto, motorcycle, RV, boat, business insurance subsidiaries along with offering homeowners policies through American Strategic Insurance. With 43,000 employees, Progressive is acclaimed for its Name Your Price® tool enabling customized auto quotes and its robust usage-based insurance options tied to driving behavior.

It was the first U.S. auto insurer to offer comparison quotes along with concierge loss assistance and online management services. Progressive’s proactive product development, digital focus, and competitive rates propel its growth making it a dominant personal and commercial lines insurance carrier domestically with increasing overseas footholds.

Zurich Insurance Group – Switzerland’s Multinational Insurance Giant

Serving customers in over 210 countries, Zurich Insurance Group has cemented itself as Switzerland’s largest insurer with a substantial international footprint across Europe, North America, Asia Pacific and Latin America. 

Heavily focused on commercial insurance, Zurich offers general insurance, life insurance solutions along with farm, cyber and specialty insurance products catering to businesses of all sizes. In its 2021 annual report, Zurich reported nearly $71 billion in total revenues, along with $220 billion+ in assets under management.

As one of the world’s leading corporate insurers, Zurich provides risk and claims management expertise through data insights and tech-driven tools to optimize operations and risk profiles of companies globally. Its financial strength, customer-centric approach and responsive cross border claim assistance make it a trusted global insurer for multinational corporations and overseas ventures.

Travelers – Oldest P&C Insurer in U.S. with International Scale

The Travelers Companies, headquartered in New York City, first provided accident insurance in 1864, making it the oldest property and casualty firm in America. Since then it has evolved into a leading multiline insurer safeguarding individuals and businesses in the U.S., Canada and across the globe. In 2021, Travelers reported $34 billion in total revenues with a market cap exceeding $40 billion.

It provides commercial and personal insurance through three segments encompassing: Business Insurance (workers compensation, property, liability etc.); Bond & Specialty Insurance (surety, management liability, professional liability etc.) and Personal Insurance for home, auto, valuables coverage. Travelers leverages analytics and risk expertise to offer tailored solutions across various sectors like tech, manufacturing, construction, public entities etc. Backed by its strong balance sheet and trusted brand, Travelers serves customers located in over 30 countries making it a reputable international commercial insurer as well.

Liberty Mutual Insurance – 5th Largest P&C Carrier in U.S.

Founded in 1912, Liberty Mutual Insurance Group is now a diversified global insurer ranked 77th on the Fortune 100 list. Headquartered in Boston, it provides personal insurance products like auto, home, life, health while offering an array of commercial policies for businesses worldwide. In 2021, Liberty Mutual reported over $48 billion in consolidated revenue with its U.S. market contributing over 70% towards premiums. 

As per rating agency A.M. Best, Liberty Mutual holds over $159 billion in total assets cementing itself as the 5th largest U.S. property and casualty insurance carrier. Its independent agents, direct distribution, and international presence spanning 30 countries have bolstered its position as a leading commercial lines writer globally. Liberty Mutual also offers specialty coverages for overseas medical, global employee benefits, marine and energy sectors through its foreign subsidiaries.

Chubb Limited – Global Leader in P&C Insurance for Businesses

Chubb Limited is the world’s largest publicly traded property and casualty insurer with a specialized focus on commercial lines insurance for domestic and international companies. Its product portfolio encompasses specialized and standard commercial P&C coverage like marine, political risk, casualty, professional indemnity, directors and officers liability etc.

Along with personal lines insurance including home, auto, accident etc. In 2021, Chubb reported $40 billion+ in gross premiums written globally. As an A++ rated carrier with strong financial backing, Chubb operates in 54 countries with U.S. and Europe accounting for its largest markets currently. Its acquisition of The Chubb Corporation has expanded its global network and strengthened its leadership position to meet the risk transfer needs of multinational firms across continents.

Ping An Insurance Company of China, Ltd. – Asia’s Largest Insurer

Ping An Insurance is the world’s most valuable insurance group and largest non-life insurer in Asia. Established in 1988, it is headquartered in Shenzhen, China with a vast agent network and 170 million+ retail customers domestically. Along with life and health insurance, Ping An offers auto, corporate liability, marine, home contents coverage through its property and casualty subsidiaries.

It manages nearly $1 trillion in assets backed by over 40,000 employees globally across fintech, healthcare and financial services. With China opening up its insurance sector to foreign firms, Ping An is solidifying itself as an emerging global player with overseas assets under management exceeding $120 billion. Its innovative mobile technologies and bespoke risk solutions for large industrial projects now support its increasing penetration into Asian markets and beyond.

Tokio Marine – Oldest and Largest Property Insurer in Japan

Tracing back to 1879, Tokio Marine is the oldest and largest property and casualty insurer in Japan providing an array of solutions from home insurance to customized coverage for mid-sized firms and multinationals. Headquartered in Tokyo, it serves over 40 million policies internationally, operates in over 46 countries, manages $222 billion+ in assets globally, and employs over 75,000 staff worldwide.

Even amidst economic uncertainties and fluctuations in foreign exchange, Tokio Marine continues to deliver consistent underwriting profits given its diversified business model and prudent investment strategies. It has maintained an A+ financial strength rating for over 16 years now. Through its local expertise, customer focus and use of technologies, Tokio Marine has cemented itself as a trusted international P&C insurance group across the Americas, Europe and Asia.

Sompo Holdings – One of Japan & Asia’s Leading Insurers

Sompo Holdings has emerged as one of the top 10 non-life insurance providers globally on the back of 120+ years of experience in the Japanese insurance market. Headquartered in Tokyo, the insurer serves over 100 million customers worldwide, operates in over 30 countries/regions and manages $136 billion+ in total assets currently. 

Sompo Holdings was formed through the mega-merger between Sompo Japan and Nipponkoa Insurance offering P&C insurance products for domestic and overseas businesses along with retail product lines like auto, mortgage, travel and pet insurance. Its commercial/industrial insurance offerings encompass manufacturing risks, marine cargo, nuclear power plants, aviation, large-scale plants, and renewable energy firms. 

Sompo systematically leverages data and digital tools to streamline underwriting and claim processes across its international markets. With strong capital reserves and steady growth momentum, Sompo Holdings now looks poises to be a leading Asian insurer globally.


As risks intensify globally across emerging domains like cybersecurity, climate change, supply chain and more, the demand for general insurance will continue rising worldwide. The top 10 companies profiled here have firmly established their strongholds across key regional markets by offering wide risk transfer mechanisms, technology innovations and strong financial backing to customers spanning individuals, SMEs and multinationals. 

These leading insurers will play an instrumental role in driving growth while optimizing the customer experience through digitization. With large global footprints, robust balance sheets and strategic consolidation, these diversified general insurers continue to boost their competitive edge internationally by leveraging analytics for informed underwriting and enhanced claims efficiencies. 

As they diversify into new covers like cyber insurance, drone insurance etc., their sound technical pricing and risk management capabilities will strengthen their market positions further amidst the dynamic global risk landscape. Ultimately the insurers succeeding in balancing profits, customer centricity and adaptability to change, will continue outpacing peers to shape the future of the global general insurance sector.

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