Business Jan. 05, 2012 - 05:58AM JST ( 0 )

OLDWICK, NJ —

France’s AXA S.A. once again topped A.M. Best Co’s ranking of the world’s 25 largest insurance companies as measured by net premiums written and Japan Post Insurance Co led the ranking measured by nonbanking assets.

The rankings of the world’s largest global insurance companies, by assets and net premiums written, were released by A.M. Best in the Jan 2 issue of BestWeek. The two rankings are based on BestLink data and additional research.

In its ranking of the world’s top insurers by 2010 net premiums written, A.M. Best places Italy’s Assicurazioni Generali S.p.A. in second place. AXA had USD 107.9 billion in net premiums written in 2010, up 0.2% from the previous year. Generali’s net premiums rose 2.87% to $87.17 billion last year. Both companies held the same ranking a year earlier.

By premiums, UnitedHealth Group was the only U.S. insurer to rank among the top five.

Another U.S.-based insurer that made a significant move on the ranking was Berkshire Hathaway, which cracked the top 25. Previously ranked at No. 26, the Warren Buffett-led group came in at No. 24, with premiums of $30.9 billion.

Japan Post had $1.09 trillion in assets in 2010, and although its assets slipped 5.26% from 2009, the Japanese government-linked insurer retained its top spot.

MetLife moved into the top five in the ranking based on assets, fueled by its $16.2 billion acquisition of American Life Insurance Co. Purchased from American International Group, ALICO expanded its international presence, especially in Japan, where it’s now a top player in the supplemental health insurance market.

Meanwhile, AIG slid from No. 3 to No. 5, with assets of $683.4 billion.

The top 10 global insurers ranked by nonbanking assets are:

1. Japan Post Insurance Co
2. AXA S.A., France
3. Allianz SE, Germany
4. MetLife Inc, United States
5. American International Group, Inc, United States
6. AVIVA plc, United Kingdom
7. Assicurazioni Generali S.p.A., Italy
8. Prudential Financial Inc, United States
9. Nippon Life Insurance Company, Japan
10. Legal & General Group plc, United Kingdom

The top 10 global insurers ranked by net premiums written are:

1. AXA S.A., France
2. Assicurazioni Generali S.p.A., Italy
3. UnitedHealth Group Inc, United States
4. Allianz SE, Germany
5. Japan Post Insurance Co
6. National Mutual Insurance Fed. Agricultural Coop, Japan
7. Munich Reinsurance Company, Germany
8. WellPoint Inc, United States
9. AVIVA plc, United Kingdom
10. China Life Insurance (Group) Company, China

Business Wire