World’s top 10 insurers’ market value down $57.3B in January–August

The top 10 global insurers’ total market value fell to $1.39 trillion, while nine out of the 10 insurance companies’ total market value rose 13.8% to $136.5 billion, according to data from the companiesmarketcap.com website.

Among the top 10, only the highest ranked insurer, UnitedHealth, lost total market value, the data showed. UnitedHealth lost $193.8 billion, marking a 41.3% decrease.

Despite the loss, UnitedHealth was the most valuable insurer with a market value of $275.5 billion, followed by German insurance firm Allianz SE with $167.9 billion and US-based Progressive with $146.9 billion.

Allianz SE’s market value surged 41.3% since the end of last year, while Progressive’s market value climbed 4.1%, but the insurer fell from its previous second place to the third in January–August, according to the data.

Chinese insurers China Life Insurance and Ping An Insurance followed with market values of $143.6 billion and $142.1 billion, respectively.

UnitedHealth loses most among other insurers

UnitedHealth shares were hit significantly with the assassination of CEO Brian Thompson in November 2024.

The assassination was reported by news outlets as a protest against the US health insurance industry.

UnitedHealth shares faced selling pressure, which continued in the first months of 2025 as well. The insurer downwardly revised its profit forecast in April, leading to the sharply daily loss in over 25 years.

Again, UnitedHealth downwardly revised its 2025 forecast in May due to higher-than-expected medical costs, while the next CEO, Andrew Witty, suddenly resigned from the company, further fueling the selling pressure on the insurer’s shares.

Replacing Witty, Stephen Hemsley returned to UnitedHealth as CEO after stepping down in 2017.

Meanwhile, the insurer announced in July that the US Department of Justice launched a criminal and civil investigation into the company. UnitedHealth ended the first half of 2025 as one of the two worst-performing stocks on the Dow Jones Industrial Average (DJIA).

UnitedHealth reported revenues of $111.6 billion and adjusted earnings per share (EPS) of $4.08 in July, below market expectations.

The insurer’s shares closed with a decline of 0.1% on Aug. 14, but despite all odds, UnitedHealth shares surged sharply the next day with reports that billionaire Warren Buffett purchased 5 million shares through Berkshire Hathaway.

UnitedHealth shares thus closed with a roughly 12% gain on Aug. 15.

However, the insurer’s shares only increased 1.5% on the next trading day, before declining 1.4% on Tuesday and 1.5% on Wednesday.

Most insurance giants increase market value in 8-month

Seven out of the top 10 insurance giants increased their market values in January-August, the data showed, Allianz SE performing the best.

The German insurer’s market value rose 41.3% from $118.8 billion to $167.9 billion, followed by French insurance firm AXA with 36.5%, Zurich Insurance Group with 20.2%, and Ping An Insurance with 15.5%.

Meanwhile, Chubb, Marsh & McLennan Companies, and UnitedHealth lost 2.5%, 1.1%, and 41.3%, respectively.

Allianz SE, Progressive profits up

Allianz SE’s second quarter results showed that the company’s net profit rose 13% to 2.84 billion euros ($3.29 billion), within its year-end target.

The German insurer attributed this rise to property and casualty insurance segments’ performance, as well as around $345 billion in sales from the partnership with UniCredit.

Meanwhile, Progressive’s second-quarter net profits more than doubled versus the same period last year due to higher performance in the individual insurance segment.

China Life Insurance and Ping An have yet to publish their second-quarter earnings.

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