It’s one way to protect ourselves against those unforeseen circumstances like theft or vandalism. So whether you’re looking for ways to save money on your insurance or the best car indemnity for your situation, here are the world’s ten largest auto insurers.
-
Berkshire Hathaway Inc., Omaha, NE
It probably won’t surprise you to see the number one spot on this list go to another Warren Buffett venture, which he’s been working on since 1967 – Berkshire Hathaway Inc. He’s been involved with various companies, including Geico, GEICO, and MidAmerican Energy Holdings. He also worked at Borsheim’s and the National Indemnity Corporation before he finally launched his own company in 1967. They are the largest insurance provider in the world, with over $150 billion in revenues from 2007-to 2008. They have more than 15 million customers and provide insurance to customers all across America.
-
Allstate Corp. (The), Northbrook, IL
Allstate Corp is the second-largest auto insurance provider in the world, with over $26 billion in revenues in 2010. They have over 14 million customers and provide insurance to customers across the United States, Canada, and Puerto Rico. They are a publicly held company with nearly $100 billion in assets as of 2009. Allstate Corporation was founded way back in 1931 and has continued to grow ever since.
-
Zurich Insurance Group Ltd., Zurich, Switzerland
While it might be surprising to see a Swiss provider on this list, Zurich Insurance Group Ltd is one of the top auto insurance companies in the world today. They provide more than just car indemnity; they have specialized in it longer than most of its competitors. That’s why they have their own in-house specialist unit called Zurich Risk Holdings that handles everything from their specialty products and general property to life and health coverage.
Zurich is one of the oldest insurance companies in existence, but it still manages to maintain and grow its market share throughout Europe. A lot of that success has to do with the way they treat their employees. Zurich has been praised for the way they treat its employees and the respect they give them by ensuring they receive an education and continuing education programs to keep themselves from being left behind in ongoing changes. One of these changes is being able to send information all over Switzerland instantly.
Zurich also specializes in handling high net-worth individuals or HNWIs who are looking for higher rates of return, which comes in handy when it comes to paying out large claims.
-
AXA Group, Paris, France
Another surprising entry on this list is France’s AXA Group. While its name may be French, the company is one of the largest insurance companies in the world. It has $120 billion in revenue in 2009. The company was originally founded in 1816. This company has grown from a French mutual society to an international holding company that employs over 158,000 employees and services 97 million customers across the globe. They are one of the largest property and casualty providers, with 47% of the market share for both. As far as car insurance goes, they have a 20% market share for non-franchise auto insurance policies within France.
AXA has thought of everything when it comes to its insurance company and the services they offer. They have a wide variety of products, from accident to life insurance and from specialty services like pet insurance to products that work towards their social responsibility. AXA also offers an investment program for both its employees and customers.
This company was founded back in 1919. And they have been ranked number one most admired insurance company worldwide by financial magazines since 2000. Their auto insurance services represent some of the best due to their hefty discounts, which helps to keep their claims ratio very low compared to many other insurance companies.
-
Allianz SE, Munich, Germany
The Allianz SE is based in Germany but provides auto insurance throughout Europe with affiliates around the world. They have over 90 million customers throughout the world. And are ranked one of the largest global providers of crop insurance. Their specialty products keep them at the top of the list as far as fund size goes. Their Insurance & Life division provides coverage with an estimated $81.6 billion in assets, while their Property & Casualty division has over $75.5 billion in assets.
-
AXA Equitable Inc., New York, NY
This is another newcomer to the auto insurance industry that has managed to quickly climb up the ranks. And overtake many of its competitors. They have become so popular that they have surpassed Standard and Poor’s to become one of the largest financial services providers in the world, with over $222 billion in revenue just last year. Their specialty products have also become popular in recent years, and they are continuing to grow by writing more and more new policies every year.
-
State Farm Mutual Automobile Insurance Company, Bloomington, IL
State Farm Mutual Automobile Insurance Company is one of the largest insurance companies in the world. This has a customer base of over 48 million people. But it wasn’t always that way for State Farm. They had humble beginnings as far back as 1922 when their first agent was born and have continued to grow ever since, now boasting over $81 billion in revenues from 2007-2008.
-
Aviva PLC, London, UK
Aviva PLC is the largest insurance company in the United Kingdom, with over $121 billion in revenue in 2010. They are a member of the FTSE 100 and have been publicly owned since 1999, when they were listed on the London Stock Exchange. When it comes to auto indemnity, they are one of the largest companies, with more than 22 million customers for insurance providers around the world. They also provide life indemnity and wealth management solutions as well as pensions and investment products for their customers.
-
Travelers Companies Inc
This company is one of America’s oldest insurance companies, with facilities all over the country. And over 11 billion dollars in assets, making them one of the world’s most popular auto indemnity companies. They were created back in 1863. It started as a fire indemnity company. But they have branched out to many more different types of insurance over the years. They are also one of the largest providers of car insurance. And also specialty products like liability and property indemnity. Their products have helped grow their business by an impressive 200% over the past ten years, proving that every customer counts.