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World's largest insurance companies 2010, by net premiums

The statistic shows the largest insurance companies worldwide in 2010, by net premiums written. The net premiums written by French insurance company Axa amounted to approximately 108 billion U.S. dollars in 2010.

Insurance and the economy

Insurance is the transfer of risk from one entity to another in exchange for payment. It serves as a form of risk management, allowing a degree of financial security to policyholders in the face of uncertain loss. The insurance and the reinsurance industry are huge sectors; some of the world’s largest companies are insurance companies, but despite the status and the financial clout that comes with this, the insurance industry is heavily reliant on the state of the economy, which, at present, is not in the best of shape. Many economists, however, recognize the symbiotic relationship that exists between the two; insurance has the power to fuel growth.

More than 300 billion US dollars are distributed by the insurance industry in the United States each year through policy benefits and claims. This money has a trickle down effect that can be felt in all areas of the economy. In addition to this, insurance companies also count as some of the largest investors out there; they invest in stocks and bond which helps to keep the financial markets ticking over. It is estimated that insurance companies have a stake of around a trillion US dollars in the United States economy alone.
Insurance also has the ability to provide recovery in some sectors in particular. Insurance policies allow businesses to replace property lost, be they through fire or through major catastrophic events; it also allows homeowners to rebuild, in turn pushing the construction sector. In the general sense, businesses would be unable to carry out everyday transactions without insurance. Even when we consider the simplest of actions within a business, from the manufacture of products to hiring a new employee, insurance plays a role.

Largest insurance companies worldwide in 2010, by net premiums written

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Source

Release date

January 2012

Region

Worldwide

Survey time period

2010

Supplementary notes

Figures have been rounded.

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