May 24, 2022
In today’s day and age, you can insure just about anything – your life, business, home, car, or motorcycle might come to mind. However, you might not think about what buying insurance actually means when you sign up to pay the premiums for whatever you’re trying to protect. In truth, the business of insurance is basically gambling – but with informed data and financials.
Large insurance companies invest your premiums in investments, hoping that they’ll never have to pay for whatever you’re insuring. However, in the case they do, those investment returns should cover whatever broke – and those economics favor the insurance business.
That’s why the world’s largest insurance companies are worth billions – and the assets they manage reach similar heights. America’s largest insurer, Prudential, had over a trillion dollars worth of assets under management.
Here’s a list of the largest companies in the business of insurance: