How Are The Top 20 Insurers Doing? GlobalData Has Stats

GlobalData has been doing some research on premium income by insurance brand, following the Covid event 2020-21. The news is generally good, with growth in income posted at 5% or above. Here’s the word;

The top global public insurance companies sustained their momentum in 2022, benefiting from increased insurance awareness following the COVID-19 pandemic and an economic rebound in most global markets. The average premium earned of the top 20 global insurers grew by 3.3% while experiencing a slight 2.3% decline in total revenue, reveals GlobalData, a leading data and analytics company.

Of the top 20, 13 insurers reported year-on-year (YOY) growth in premium earned in 2022, with the notable performers being Dai-ichi LifeMetLife, and Elevance Health.


Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “Insurance companies have thrived due to the confluence of strong economic tailwinds, heightened risk awareness, and record-high savings buoyed by booming markets.”

Dai-ichi Life

A 17.6% growth in premium earnings for Dai-ichi Life can be attributed to the rise in policy reserve reversals resulting from reinsurance transactions aimed at reducing market risks.


MetLife experienced increased premiums in its Retirement and Income Solutions business, fueled by a significant pension risk transfer transaction in 2022, while its growth in the Group Benefits business was primarily driven by the expansion of voluntary products, group disability, and dental businesses.

Elevance Health

Elevance Health witnessed a 13.7% growth in total premiums earned, driven by increased premium revenue in its Medicaid business resulting from organic membership growth during the COVID-19 pandemic, the acquisition of Integra in Q2 2022, and the acquisition of Ohio Medicaid members through a contract purchase in Q1 2022. Additionally, the increase in total premiums earned was further fueled by a rise in premium rates aimed at covering medical cost trends.

Biggest losers

Japan Post Holdings and AXA experienced significant declines in earned premiums, with respective decreases of 21.1% and 8.6%, resulting in a decline in overall revenue; Japan Post Holdings focused on rebuilding customer trust following issues with insurance solicitations in FY2020, leading to reduced insurance premiums and a decline in policies in-force, while AXA’s premium earnings were negatively affected by lower sales of investment products.

Grandhi concludes: “The global insurance industry is confronted with numerous challenges in 2023, including high inflation, losses from natural catastrophes, climate change, looming economic recession in Europe, geopolitical uncertainties, competition from InsurTech companies, and volatility in financial markets, making it difficult to regain momentum. Moreover, the central banks’ ongoing interest rate hikes are contributing to risk repricing within financial markets.”


About alastair walker 12549 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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