Insurance is the fair transmission of a loss or damage, from one entity to some other in exchange for amount. It is known as a mode of risk management generally used as a fence against the risk of a conditional, ambiguous loss. In today’s period when everything is getting so expensive and even a small damage can affect the budgets of many, there are various insurance policies that can help you a lot. There are different insurance companies that offer various insurance polices including auto insurance, property insurance, casualty insurance, health insurance, etc. Insurance is becoming more sophisticated in many civilized areas of Europe, and various specialized plans have developed. The insurance industry also has to face various challenges and is affected a lot by globalization, deregulation, market investment possibility and terrorists’ attacks. Many of you may need some insurance policies in your life as it can safe you from some massive damage and the selection of any company is really a hard task but here we have a list of top 10 best insurance companies in 2014, that are specialized in providing all the facilities and making your life tension free to some extent.
10. ING Group
The ING Group is a famous Dutch multinational financial services and banking organization whose headquarter is located in Amsterdam and is also known as “Internationale Nederlanden Group” which is in English termed as International Netherlands Group. Insurance services are included in its primary businesses with commercial banking, asset management, investment banking. It has an extensive insurance business that spread throughout Europe, Asia and America, it offers various insurance policies including car insurance, heath and social insurance, its life insurance policies vary from life term insurance policies giving a pure protection to the flexible and growth potential universal life insurance policies.
9. Zurich Insurance Group
Zurich Insurance Group is a Swiss insurance corporate whose headquarter is located in Zurich, Switzerland and is the biggest insurer in Switzerland. According to Forbes Global 2000s list of 2013, it was the 75th largest public company in the world. It is a widely recognized insurance company and has three main business segments; Global Life, General insurance and Farmers. It comprises of more than 60,000 employees that are serving in over 170 countries and territories world widely.
8. AIA Group Limited
AIA Group Limited also known as AIA is an Insurance company whose headquarter is located in Hong Kong and has agencies in the Asia Pacific region including China, Australia, Japan, Malaysia, Vietnam, etc. It was a member of the AIG group but was separated from it in 2009. It is renowned as number one Hong Kong’s insurance company due to its number of policies. It mainly deals with insurance annuities and mutual funds for which people have great trust.
Metlife or the Metropolitan Life Insurance Company is a renowned and one of the best insurance companies. It is one of the world’s largest global providers of annuities, insurance and employee benefit programs and have more than ninety million customers in more than 60 countries.
It was established in 1968, with it’s headquarter located in New York, United States. It holds the leading market positions in Japan, Latin America, Europe, Asia’s Pacific region, and the Middle East. This company is also the United State’s largest life insurer and delivers 90 of 500 companies in all over the world, it is also the Japan’s second largest foreign insurance provider. They work with families, individuals and businesses to offer them solutions that provide financial guarantees.
AXA is a French global retirement, investment and insurance group company whose headquarter is located in Paris. This group works mainly in North America, Western Europe, the Middle East and the Asia Pacific region. It runs its businesses according to the rules and regulations of various countries. This company offers health, life and numerous other forms of insurance and also investment management. Its five operating business segments include: International Insurance with reinsurance, asset management, property & casualty, life & savings and other financial services. They claim that they have innovative methods that will definitely answer your risk management needs.
5. Ping An
Ping An, also termed as Ping An Insurance company of China is a Chinese holding company that mainly deals with insurance and financial services. It was founded in 1988 in Shenzhen and is the China’s first insurance company having a shareholder structure. The financial services of this company are composed of three main businesses including banking, investment and insurance. The company’s mission is to accomplish its responsibilities to investors by increasing asset value and providing stable returns, to customers by offering them the best services purity and to employees by providing opportunities for career development and a competing work environment.
4. American International Group
American International Group is an American multinational insurance company with more than 63,000 employees in all over the world, it is also known as AIG and the company’s headquarter is located in New York City, United States. AIG Companies offer services in more than 130 countries globally and is the largest underwriter of industrial and commercial insurance in the United States. It provides life insurance, casualty insurance, mortgage insurance, retirement products and other financial services. . On the global Forbes 2000 list of 2013 it was the world’s 62nd largest public company and according to April 21, 2013, its market capitalization was of $57.53 billion.
Allianz is a German multinational company whose headquarter is located in Munich and is renowned because of its financial services. It has strong international repute and is a leader in German market. It was established in 1890 and became the first insurer company in the world to obtain a license for distributing corporate policies in 1990. It was the 12th biggest financial services group and the largest insurance company in the world, as of 2010, by Forbes magazine and also the largest financial services company by 2012 revenue.
Allianz presently holds a stake of almost 14 percent in Commerzbank. This company has agencies in more than seventy countries and possesses almost 180,000 employees, it has over 76 million customers around the globe and its services include asset management, casualty and property insurance, health and life insurance. On the global Forbes 2000 list of 2013 it was ranked at number 25.
2. China Life Insurance
The China Life Insurance company is a renowned China incorporated company that is based in Beijing and provides annuity products and life insurance. It was established in 1931, in Shanghai and is the largest insurer of China by holding around 45% percent of the China’s market. This company operates its businesses through different individual insurance business, short term insurance business and group insurance business that offers group life insurance individual life insurance, health insurance and services, etc. This company has undergone successive modernization and is currently the China’s best insurance company and the world’s second best insurer, in short terms it is also known as China Life.
1. Berkshire Hathaway
It is a diversified American multinational company having major interest in GEICO, annuity sales, sales of jewelry and life insurance, its headquarters are located in Nebraska, Omaha and the United States and administer a number of subsidiary companies.
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1 |Life Insurance Corporation of India (LIC) Corporate Office – Mumbai, Maharashtra | Employees- 115900+ | Business – Financial services | Establishment – 1956 | Website – www.licindia.in Details – Best Insurance Company in India dominating the market since then it established in market. In other word, It is the synonyms of Insurance in India, most important they have best settlement ratio.
2 | SBI Life Insurance Corporate Office – Mumbai, Maharashtra | Employees –7300+ | Business – Insurance | Establishment – 2001 | Website -www.sbilife.co.in Details -State bank of India life insurance is a joint venture between BNP Paribas Cardif holding 74:26 ratios. It has great hold in Indian market as far as concern of Finance and banking sector, best in insurance sector after LIC. Top 10 Insurance Companies in India | Insurance Sector
3 | Birla Sunlife Insurance Corporate Office – | Employees – 133000+ | Business – Financial services | Establishment – 2000 | Website -www.birlasunlife.com Details - It is finacial and Insurance company, a Joint venture of Aditya Birla and Sun life Insurace. Company offers life insurance products including health, wealth and retiral plans.
4 | Reliance Life Insurance (RLIC) Corporate Office – Navi Mumbai,Maharashtra | Employees – 1000+ | Business – Insurance | Establishment – 2001 | Website -www.reliancelife.com Details – Company is group company of Reliance, among of top insurance company in India. In year 2011 Nippon life insurance, Japan acquired 26% share in this company. Top 10 Insurance Companies in India | Insurance Sector
5 | ICICI Prudential Life Insurance Corporate Office – United Kingdom | Employees –15000+ | Business – Life Insurance | Establishment – 2000 | Website -www.iciciprulife.com Details – ICICI prudential is a joint venture between ICICI and prudential Plc, United kingdom. ICICI Prudential offers wide range of Insurance Products including health, wealth, life insurance, medical insurance and retiral solutions.
6 | Tata AIG Life Insurance Corporate Office – Mumbai, Maharashtra | Employees – — | Business – Insurance | Establishment – 2001 | Website -www.tataaiginsurance.in Details – Tata AIG is a joint venture between Tata and AIG, It is flagship company of Tata group. Started insurance business in year 2001, company launched many insurance products such as Motor, travel, health and accidental insurance. Top 10 Insurance Companies in India | Insurance Sector
7 | ING Vysya Life Insurance Corporate Office – Bangalore, Karnataka | Employees –7800+ | Business – Insurance | Establishment – 2001 | Website -www.inglife.co.in Details – ING vysya is a insurance company offers insurance policies and retiral plans. It has been serving in more than 200 cities in India and almost 10 lacs customer base.
8 | Bajaj Allianz Life Insurance Corporate Office – Pune | Employees – 1000+ | Business – Insurance | Establishment – 2001 | Website -www.bajajallianz.com Details – It is a private Insurance company offers many insurance plan & policies including ULIP, pension plans and term Insurance. Top 10 Insurance Companies in India | Insurance Sector
9 | Max Life Insurance Corporate Office – New Delhi | Employees – 8000+ | Business – Financial Services | Establishment – 2000 | Website -www.maxlifeinsurance.com Details – Max life insurance is another private company offers Insurance plans for everyone. Top 10 Insurance Companies in India | Insurance Sector
10 | HDFC Standard Life Insurance Corporate Office – Mumbai, Maharashtra | Employees – 15500+ | Business – Insurance | Establishment – 2000 | Website -www.hdfclife.com Details – Group company of giant Housing development finance corporation, it is joint venture with Standard life Insurance. Top 10 Insurance Companies in India | Insurance Sector