What Is Insurance?How Insurance Company Work?

What Is Insurance?How Insurance Company Work?

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What Is Insurance?

Insurance is a contract based service that is given by Insurance companies. The insurance company reimburses the customer against any loss. In insurance, the company gives the customer a specific amount of money for the loss that is occurred by accident. Insurance is liable for any type of damage or loss due to any third party.

How Insurance Company Work?

The Company takes some amount from their client in a specific amount in a specific period for a long time to give their clients some money after getting damages or accidental issues.

Insurance scores can be ranked in many ways. There are many mediums. Sometimes insurance is ranked on the basis of capital such as how much the insurance company asks. 

How many times you have been in the company and sometimes according to the stock market and sometimes on the basis of net premium. But insurance plays an important role in the economics of the world. 

This year there are many types of life insurance such as auto insurance etc. We will discuss about some insurance company here and compare them and tell about some insurance company of USA.

On the basis of market capitalization

There are some big insurance companies according to market capital. customers can buy insurance publicly.

Berkshire Hathaway (BRK.A)
$ 308 billion

China Life Insurance (LFC)
$ 80 billion

Allianz (AZSEY)
$ 76.8 billion

American International Group (AIG)
$ 72.3 billion

Ping An of China (PNGAY)
$ 65.6 billion

MetLife (MET)
$ 59.4 billion

$ 57.8 billion

AIA Group Hong Kong (AAIGF)
$ 54.4 billion

ING Groep (ING)
$ 54.4 billion

Zurich Insurance (ZURVY)
$ 45.4 Billion.

Some major insurance companies related to health insurance

United Healthcare (UNH)
$ 91.8 billion

Wellpoint (WLP)
$ 34.3 billion

Aetna (AET)
$ 29.8 billion

CIGNA Corp. (CI)
$ 26.8 billion

Humana (HUM)
$ 21.1 billion

Centene Corp. (CNC)
$ 5.7 billion

Health Net, Inc. (Hnt)
$ 3.9 billion

There are some companies that do not send insurance to the public, the companies that do not own the government, those companies operate privately and do not publish their reports properly.

Property Related Insurance Companies.

Property-related insurance companies also do land property house cars and in some cases health-related insurance. Those companies come under property insurance. Here we are providing a list of some insurance companies in the United States.

State Farm Group
$ 64.6 billion

Berkshire Hathaway (BRK.A)
$ 46.0 billion

Allstate Insurance Group (ALL)
$ 30.6 billion

Liberty mutual
$ 28.6 billion

Progressive Insurance Group (PGR)
$ 27.1 billion

Travelers Group (TRV)
$ 24.5 billion

USAA Group
$ 19.6 billion

Nationwide group
$ 18.8 billion

Farmers Insurance Group
$ 14.3 billion

American International Group (AIG)
$ 14.2 billion

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