8 Europe’s Biggest Insurance Companies in 2021- According to Annual Report of Insurance Companies in 2021, there are 8 Europe’s Biggest Insurance Companies in 2021. These companies have main office in Europe’s country, and they manage billion of their customers or insured people. They have diversified product of insurance and can attract many people across the nations to use their insurance products.
Insurance is one of the indispensable products in human Life. Many people used insurance to protect the unpredictable risk in our daily life. The Insurance can prevent the unpredictable losses because of the accident or moment that everyone will face. Along with development of science and technology, many products of insurance can be found in these regions. Life, travel, auto, home, health insurance is some of the common product of insurance.
In Europe regions, there are some insurance companies that has extensive market to market its insurance product to all over the world. Here are the 8Europe’s Biggest Insurance Companies in 2021. These data of insurance company came from Annual Report in 2021. Basically, the annual report is comprehensive report of company that describe the journey of company in doing business annually.
The Rank of Europe’s Biggest Insurance Companies Based on The Assets
| Rank | Name of Company | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| Origin Currency | US Dollar | Origin Currency | US Dollar | ||
| 1 | Allianz SE | 1,139 Billion Euro | 1,139 Billion US Dollar | 1,055 Billion Euro | 1,055 Billion US Dollar |
| 2 | AXA S.A | 775 Billion Euro | 776 Billion US Dollar | 700 Billion Euro | 700 Billion US Dollar |
| 3 | Legal & Genenal Group Pc | 582 Billion Poundsterling | 675 Billion US Dollar | 571 Billion Poundsterling | 662 Billion US Dollar |
| 4 | Assicurazioni Generali | 586 Billion Euro | 586 Billion US Dollar | 554 Billion Euro | 554 Billion US Dollar |
| 5 | CNP Assurances | 483 Billion Euro | 483 Billion US Dollar | 458 Billion Euro | 458 Billion US Dollar |
| 6 | Aegon N.V | 468 Billion Euro | 468 Billion US Dollar | 442 Billion Euro | 442 Billion US Dollar |
| 7 | Zurich Insurance Group | 435 Billion US Dollar | 435 Billion US Dollar | 396 Billion US Dollar | 396 Billion US Dollar |
| 8 | Aviva Plc | 358 Billion Poundsterling | 415 Billion US Dollar | 339 Billion Poundsterling | 393 Billion US Dollar |
| Source : Annual Report, 2021 | |||||
| Description : | |||||
| Currency Rate : | |||||
| 1 Euro = 1 US Dollar (USD) | |||||
| 1 Poundsterling (GBP) = 1.16 US Dollar (USD) | |||||
| Origin Currency : Currency officially used in Annual Report 2021 | |||||
| US Dollar : Converted currency from Origin Currency to US Dollar | |||||
The data above showed the financial positions of insurance companies. These came from balance sheet in annual report. There are assets, liabilities, and equities variables. The assets showed the physical and non-physical wealth that company owned. Meanwhile, the liabilities describe the debts or obligation of company. The company must pay off the liabilities in the future. The health company possess more assets than liabilities. A few of liabilities makes the company can run or expand their business freely without thinking to pay off the debts.
The Rank of Europe’s Biggest Insurance Companies Based on Net Income
| Rank | Name of Company | Revenue | Revenue | Net Income | Net Income | |
|---|---|---|---|---|---|---|
| Origin Currency | US Dollar | Origin Currency | US Dollar | |||
| 1 | AXA S.A | 99 Billion Euro | 99 Billion US Dollar | 7.5 Billion Euro | 7.5 Billion US Dollar | |
| 2 | Allianz SE | 122 Billion Euro | 122 Billion US Dollar | 7.1 Billion Euro | 7.1 Billion US Dollar | |
| 3 | Zurich Insurance Group | 69 Billion US Dollar | 69 Billion US Dollar | 5.4 Billion US Dollar | 5.4 Billion US Dollar | |
| 4 | Assicurazioni Generali | 99, Billion Euro | 99 Billion US Dollar | 3.1 Billion Euro | 3.1 Billion US Dollar | |
| 5 | Legal & Genenal Group Pc | 45 BIllion Poundsterling | 52 Billion US Dollar | 2 Billion Poundsterling | 2.3 Billion US Dollar | |
| 6 | Aviva Plc | 33, Billion Poundsterling | 38 Billion US Dollar | 2 Billion Poundsterling | 2.3 Billion US Dollar | |
| 7 | Aegon N.V | 53 Billion Million Euro | 53 Billion US Dollar | 1.7 Billion Euro | 1.7 Billion US Dollar | |
| 8 | CNP Assurances | 31 Billion Euro | 31 Billion US Dollar | 1.5 Billion Euro | 1.5 Billion US Dollar | |
| Source : Annual Report, 2021 | ||||||
| Description : | ||||||
| Currency Rate : | ||||||
| 1 Euro = 1 US Dollar (USD) | ||||||
| 1 Poundsterling (GBP) = 1.16 US Dollar (USD) | ||||||
| Origin Currency : Currency officially used in Annual Report 2021 | ||||||
| US Dollar : Converted currency from Origin Currency to US Dollar | ||||||
The Data of Revenue and Net Income can be found in the Income Statement of Balance sheet. The Revenue and Net Income can show how the company run its business effectively and efficiently annually. The Company with consistent net income can indicate the company can do the business well.
The Brief Description of 8 Europe’s Biggest Insurance Companies in 2021
1.Allianz SE
Allianz SE is one of the biggest insurance companies in 2021. Historically, Carl von Thieme found this company in February 5th, 1890. Operationally, this company has main office in Munich, Germany. In 2021, financially, the insurance company has assets around 1,139 billion Euro / 1,139 billion US Dollar and Liabilities around 1,055 billion Euro / 1,055 billion US Dollar. Based on the business performance in 2021, the company gained revenue around Revenue 122 billion Euro / 122 billion US Dollar and net income around 7.1 billion Euro / 7.1 billion US Dollar.
2.AXA S.A
Axa is France-based company that was founded in 1816 by Founder Claude Bébéar. This company has long history and experience in financial industry especially in Insurance sector. In 2021, financially, based on its published annual report, the company has assets around 775 billion Euro / 776 billion US Dollar and liabilities around 700 billion Euro / 700 billion US Dollar. Based on the business performance in 2021, the company got revenue 99 billion Euro / 99 billion US Dollar and Net income around 7.5 billion Euro / 7.5 billion US Dollar.
3.Legal & Genenal Group Plc
Legal & General Group plc, commonly known as Legal & General, is a British multinational insurance company that has main office in London, England. in 2021, the company has assets around 582 billion Pound sterling / 675 billion US Dollar with liabilities around 571 billion Pound sterling / 662 billion US Dollar. Based on the business performance in 2021, the company gains revenue around 45 billion Pound sterling / 52 billion US Dollar with net income around 2 billion Pound sterling / 2.3 billion US Dollar.
4.Assicurazioni Generali
Assicurazioni Generali S.p.A. or simply known as Generali Group is based on Trieste, Italy. Hisorically, it was founded in 1831. Along with the development of business of the company, in 2021, the company has assets 586 billion Euro / 586 billion US Dollar and liabilities around 554 billion Euro / 554 billion US Dollar. Based on the business performance in 2021, the company gains revenue around 99 billion Euro / 99 billion US Dollar and Net Income around 3.1 billion Euro / 3.1 billion US Dollar.
5.CNP Assurances
CNP Assurances is a French company engaged in the financial sector. This company was founded in 1959 and has many branches office in some countries. In 2021, based on the balance sheet, the company has asset around 483 billion Euro / 483 billion US Dollar with liabilities around 458 billion Euro / 458 billion US Dollar. Based on the business performance in 2021, the company gain the revenue around 31 billion Euro / 31 billion US Dollar with net income around 1.5 billion Euro / 1.5 billion US Dollar.
6.Aegon N.V
Aegon N.V. is a Dutch multinational company that has main office in The Hague, Netherlands. Historically, it was founded in 1983. In 2021, based on the financial structure of company, Aegon has assets around 468 billion Euro / 468 billion US Dollar with liabilities around 442 billion Euro / 442 billion US Dollar. Based on the business performance in 2021, the company gains revenue around 53 billion Million Euro / 53 billion US Dollar with Net Income around 1.7 billion Euro / 1.7 billion US Dollar.
7.Zurich Insurance Group
Zurich Insurance Group Ltd is a Swiss insurance company that has head office in Zürich. Historically, this company was founded in 1872 and still has head office in Zürich, Switzerland. Based on the financial structure on Balance sheet in 2021, the company has assets around 435 billion US Dollar with liabilities around 396 billion US Dollar. Based on the business performance in 2021, the company gains revenue 69 billion US Dollar and Net Income around 5.4 billion US Dollar.
8.Aviva Plc
Aviva plc is a British multinational insurance company that has main office in London, England. Historically, it was founded in 2000. Based on the balance sheet 2021, the company has assets around 358 billion Pound sterling / 415 billion US Dollar with liabilities around 339 billion Pound sterling / 393 billion US Dollar. Based on the business performance in 2021, the company can gain revenue around 33 billion Pound sterling / 38 billion US Dollar with net income around 2 billion Pound sterling/ 2.3 billion US Dollar.
Bibliography of 8 Europe’s Biggest Insurance Companies in 2021
AXA S.A. 2022. Annual Report 2021. Accessed via https://www.axa.com/en/investor/annual-and-interim-reports on September 11th, 2022.
Allianz SE. 2022. Annual Report 2021. Accessed via https://www.allianz.com/en/investor_relations/results-reports/annual-reports.html on September 11th, 2022
Zurich Insurance Group. 2022. Annual Report 2021. Accessed via https://www.zurich.com/en/investor-relations/results-and-reports on September 11th, 2022
Assicurazioni Generali. 2022. Annual Report 2021. Accessed via https://www.generali.com/investors/reports-and-presentations on September 11th, 2022
Legal & Genenal Group Pc. 2022. Annual Report 2021. Accessed via https://group.legalandgeneral.com/en/investors/results-reports-and-presentations on September 11th, 2022
Aviva Plc. 2022. Annual Report 2021. Accessed via https://www.aviva.com/investors/reports/ on September 11th, 2022.
Aegon N.V. 2022. Annual Report 2021. Accessed via https://www.aegon.com/investors/annual-reports/ on September 11th, 2022.
CNP Assurances. 2022. Annual Report 2021. Accessed via https://www.cnp.fr/en/the-cnp-assurances-group/newsroom/publications on September 11th, 2022