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Berkshire Hathaway overtakes Allianz as world’s largest insurer by non-banking assets

Written by Adam Cadle
06/01/2026

Berkshire Hathaway has overtaken Allianz SE as the world’s largest insurer by non-banking assets with $1.15trn, according to AM Best’s January 2026 rankings.

Allianz SE dropped to second place despite a 6.2% rise in assets to $1.09trn.

The rest of the top five remained unchanged, with China Life Insurance (Group) Co., Ping An Insurance (Group) Co. of China., and Prudential Financial ranking third through fifth.

AM Best said the top 10 global insurers by NPW are: UnitedHealth Group (US), Centene Corp. (US), Elevance Health (US), Kaiser Foundation Health Plan Group (US), State Farm Group (US), Humana Inc. (US), China Life Insurance (China), Allianz SE (Germany), Berkshire Hathaway (US), and AXA (France).


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