20 Largest Life Insurance Companies In The World

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Do you know that nearly one million (according to Forbes) American families depend on life insurance for financial and retirement security? And do you still think that because you’re young, healthy, and wealthy, you don’t need insurance? Life Insurance companies manage risk and provide financial protection for you. I know the question you’ll be asking is how to reach any of these insurance companies. No need for that, we’ve got you covered, we have listed the 20 largest life insurance companies in the world.

In this article, you will understand facts about them that would help in your decisions, and give you quick access to their teams.

With the unexpected outbreak of COVID-19 in 2020, it is necessary to make an important financial decision to save for an emergency by getting life insurance regardless of how best you live your life.

To ensure a clear understanding, we will begin by discussing why you may need insurance from insurance companies.

Hope you’re ready?

Why Do You Need Life Insurance?

Here are some reasons you need life insurance:

  • Financial protection
  • Risk management
  • Healthcare costs
  • Asset protection
  • Business continuity

Let’s discuss them quickly!

1. Financial Protection:

Insurance provides a safety net against financial loss due to unexpected events such as accidents, illnesses, natural disasters, or property damage. It helps you manage risk by transferring the financial burden of such events to an insurance company.

2. Risk Management:

Insurance helps you manage risk by spreading it across a larger pool of policyholders. By paying premiums, policyholders contribute to a pool of funds that can be used to compensate those who suffer covered losses, reducing the impact of risk on any single person or entity.

3. Healthcare Costs:

Health insurance helps you afford medical care, including doctor visits, medications, and hospitalization. Without insurance, healthcare expenses can quickly accumulate and become unmanageable.

4. Asset Protection:

Insurance helps you protect valuable assets such as your home, vehicles, and businesses. Without insurance, the loss or damage of these assets could have devastating financial consequences

5. Business Continuity:

For your businesses, insurance is essential for continuity in operations. It covers losses due to property damage, liability claims, and other risks, allowing businesses to recover and continue operating smoothly.

Let’s move on to the products and services that insurance companies can offer you.

20 Largest Life Insurance Companies In The World

The following are 20 life insurance companies in the world:

  • MetLife Insurance
  • Prudential Life Insurance, inc.
  • Northwestern Mutual
  • Ping An
  • Sun Life Insurance
  • People’s Insurance Company Of China
  • Japan Post Company, Ltd.
  • China Life Insurance (Overseas) Company,.Ltd.
  • Tokio Marine HCC
  • Samsung Life Insurance
  • Nippon Life Insurance Company
  • Zurich Insurance Company
  • Aviva Plc
  • Mass Mutual
  • Old mutual life insurance
  • Legal and General Life Insurance Plc
  • The Teachers Insurance and Annuity Association of America (TIAA)
  • Standard Life Insurance Company
  • Manulife life insurance insurance company

#1. MetLife Insurance

  • Founded: 1868
  • Headquarters: New York, US

MetLife is a public company with 49,000 employees in over 40 countries. They aim to help customers and partners navigate whatever changes life may bring for the next 150 years.

MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with around 90 million customers in over countries.


#2. Prudential Life Insurance, inc.

  • Founded: 1875
  • Headquarters: New Jersey, US

Prudential is an American Fortune Global 500 and Fortune 500 insurance company whose subsidiaries provide insurance to both retail and institutional customers throughout the United States in over 40 other countries.

In 2019, Prudential was one of the largest insurance providers in the US with $815.1 billion in total assets. They offer general insurance, health insurance, vehicle insurance, travel insurance, house insurance, and life insurance.


#3. Northwestern Mutual Life Insurance

  • Founded: 1857
  • Headquarters: Milwaukee, Wisconsin

Northwestern Mutual was named by Fortune as one of the world’s most admired life insurance companies as of 2023.

Their products include life insurance, permanent life insurance, disability income insurance, and long-term care insurance.


#4. Ping An Life Insurance

  • Founded: 1988
  • Headquarters: Shenzhen, China.

Ping An is a public company. It ranked 16th in the Forbes Global 2000 list and 2nd among global insurance companies.  It has been one of the world’s most valuable insurance brands for 7 consecutive years.

Ping An provides general, travel, health, vehicle, home, and life insurance. With US$121.7 billion in net premiums as of 2020, the company is considered to be one of the world’s largest insurers.


#5. Sun Life Insurance

  • Founded: 1865
  • Headquarters: Ontario, Canada

Sun Life is a Canadian financial services company primarily known as a life insurance company.

It has over 50,000 employees. Sun Life is on the Forbes Global 2000 list.


#6. China Life Insurance (Overseas) Company, Ltd.

  • Founded: 1933
  • Headquarters: Hong Kong, HK

With over 201,500 employees, China Life Insurance Company is one of China’s largest state-owned financial insurance corporations.

Their products range from life and health insurance. China Life (Overseas) established 7 subsidiary companies across Hong Kong.


#7. Japan Post Company, Ltd.

  • Founded: 1916
  • Headquarters: Tokyo, Japan

Japan Post provides simple and easy-to-understand products with smaller coverage amounts focused on endowment insurance and whole life insurance.

They also provide a discounting system for advance premium payment and collective insurance.  


#8. People’s Insurance Company Of China

  • Founded: 1949
  • Headquarters: Beijing, China.

PICC is a Chinese-listed insurer. It mainly engages in life insurance, annuity insurance, health insurance, accident insurance, and other insurance and reinsurance business.

Currently, it ranks 120th among the Fortune Global 500. It has provided a total of 300 million customers with over 20,000 employees. Its business scope covers property insurance, life insurance, and reinsurance.

#9. Tokio Marine HCC

  • Founded: 1974
  • Headquarters: Texas, US

Tokio Marine is one of the world’s leading insurance companies with a market cap of $49 billion.

They underwrite more than 100 classes of specialty insurance in over 180 countries with 3900 employees. They offer specialty insurance products including medical stop-loss



  • Founded:1989
  • Headquarters: Lagos, Nigeria

AXA is a public insurance company with more than 1000 employees.

They engage in products such as general insurance, health insurance, vehicle insurance, travel insurance, home insurance, and life insurance.


#11. Samsung Life Insurance

  • Founded: 1957
  • Headquarters: Seoul, South Korea

Samsung Life Insurance is one of the largest insurance companies in South Korea and a Fortune Global 500.

As of 2010, they had over 6000 employees with products such as life and health insurance.


#12. Nippon Life Insurance Company

  • Founded: 1957
  • Headquarters: Osaka, Japan

Nippon is one of the largest Japanese life insurance companies by revenue. With over 70, 714 employees and 15 million clients.

They operate a life insurance business in seven countries outside of Japan

They offer general, health, and life insurance.


#13. Zurich Insurance Company

  • Founded: 1872
  • Headquarters: Zurich, Switzerland

Zurich is a multi-line insurer serving people and businesses in more than 200 countries and territories and has about 60,000 employees.

Their products consist of general, health, vehicle, travel, home, and life insurance. The company is listed on the SIX Swiss Exchange.


#14. Aviva Plc

  • Founded: 1696
  • Headquarters: England, UK

Aviva is one of the United Kingdom’s leading insurance with over 22,000 employees.

Aviva is a market leader in sustainability. They announced their plan to become Net Zero by 2040, becoming one of the first major insurance companies in the world to do so.


#15. Mass Mutual

  • Founded: 1851
  • Headquarters: Massachusetts, US

Mass Mutual ranks 100 in the 2022 Fortune 500 list of largest United States corporations by total revenue

The products they engage in are life, disability income, long-term care insurance, and annuities.

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#16. Old Mutual Life Insurance

  • Founded:1845
  • Headquarters: Sandton, South Africa

Old Mutual provides a wide range of general and life insurance solutions designed to give value and peace of mind to customers.

They offer life insurance and short-term insurance. As of 2018, they had over 31,000 employees.


#17. Legal and General Life Insurance plc

  • Founded: 1836
  • Headquarters: London, UK

This public company specializes in life insurance and annuities. They have more than 5000 employees

They are one of the international leading players in UK and US life insurance.


#18. The Teachers Insurance and Annuity Association of America (TIAA)

  • Founded: 1918
  • Headquarters: New York, US

TIAA is a market-leading retirement company that offers life insurance to educators.

With over 1000 employees the life insurance company has been listed on the Fortune 100.


#19. Standard Life Insurance Company

  • Founded: 1825
  • Headquarters: Scotland, UK.

Standard Life is a public limited company that specializes in life insurance and long-term savings company in the UK

As of 2015, the company recorded 6,431 employees.


#20. Manulife Life Insurance Company

  • Founded: 1887
  • Headquarters: Ontario, Canada

Manulife offers term and permanent life insurance, health, travel, and mortgage protection insurance.

Manulife has 40,000 employees and over 116,000 agents serving 34 million customers.


Frequently Asked Questions

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In conclusion, we’ve been able to list 20 life insurance companies that will help ease your worry about the future. We’ve also explained the need for an insurance company and the benefits they offer.

I hope you reading this article was worth it and have been able to proffer solutions to the questions you’ve been asking.

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