Leading premium writing countries globally 2023, by premiums

In 2023, life insurance premiums written in the United States were valued at 714.9 billion U.S. dollars. Non-life insurance premiums written in the U.S. amounted to 2.5 trillion U.S. dollars in that year, however unlike most countries this amount includes basic health cover, meaning the U.S. is over two trillion U.S. dollars higher than second-placed China, who recorded non-life insurance premiums of 333.5 billion U.S. dollars. 

Berkshire Hathaway is the largest global insurer

Berkshire Hathaway, which is owned by Warren Buffett and headquartered in the US state of Nebraska, was the largest insurer worldwide in terms of revenue in 2023. However, the next largest insurer was Ping An Insurance, which is based in the rapidly growing Chinese city of Shenzhen. 

Berkshire Hathaway vs Ping An Insurance

The revenues of both insurers have been steadily growing over the past decade. However, the growth of Ping An Insurance has been more rapid for Ping An than for Berkshire Hathaway, which may indicate that the former will some day catch up with the latter.