Who is the wealthiest insurance company?

Berkshire Hathaway Reclaims Crown as World’s Wealthiest Insurer

For years, Allianz SE held the title of the world’s largest insurance company by assets—a position the German giant maintained through steady global expansion and diversified offerings. But in 2024, the balance of power shifted. Berkshire Hathaway, Warren Buffett’s legendary conglomerate, surged past its European rival, reclaiming the top spot with non-banking assets reaching $1.15 trillion—a 7.8% year-over-year increase.

While both companies saw growth, Berkshire’s momentum outpaced Allianz’s more modest 6.2% rise to $1.09 trillion. This isn’t just about size; it’s a reflection of strategic resilience. Berkshire’s insurance empire—anchored by GEICO and its reinsurance units—has long served as a funding engine for Buffett’s broader investments. Its ability to generate "float" while maintaining underwriting discipline continues to set it apart.

Meanwhile, the broader insurance landscape reveals another trend: the rising dominance of U.S. health insurers. In net premium revenue rankings, four of the top five insurers are American health-focused giants. Companies like UnitedHealth Group and CVS Health have leveraged integrated care models and pharmacy networks to amplify their reach and profitability, reshaping what it means to be an insurer in the 21st century.

Still, Berkshire’s ascent speaks to a different kind of strength—one rooted in capital efficiency, long-term thinking, and the enduring influence of its leadership. While health insurers dominate in volume, Berkshire Hathaway’s financial muscle and diversified backing allow it to play a different, more expansive game. In an industry where trust and scale go hand in hand, it’s no surprise that Buffett’s company once again sits at the top.