AM Best, the world’s leading insurance-focused credit rating agency, has released its highly anticipated annual rankings from its global headquarters in Hunterdon County. The January 2026 report reveals a historic shift at the top of the industry: Warren Buffett’s Berkshire Hathaway Inc. has seized the No. 1 spot for nonbanking assets, ending a five-year streak by Germany’s Allianz SE.
The data, compiled by the Oldwick-based agency, underscores a dominant year for U.S. insurers, with New Jersey’s own Prudential Financial and health giant UnitedHealth Group maintaining significant leads in their respective categories.
Berkshire Hathaway claimed the title of the world’s largest insurer by nonbanking assets, reporting a staggering $1.15 trillion. While Allianz fell to second place despite growing its own assets to $1.09 trillion, the rest of the top five remained stable, featuring China Life, Ping An, and Newark-based Prudential Financial Inc.
In the arena of Net Premiums Written (NPW)—a key measure of sales and growth—UnitedHealth Group remained untouchable. For the 11th consecutive year, the company took the top spot, growing its NPW by 6.2% to $308.8 billion. UnitedHealth maintains a massive footprint in the Garden State, employing more than 6,500 people and serving 1.6 million New Jersey members.
The rankings highlight the central role New Jersey plays in the global financial ecosystem. AM Best, which operates from a massive 250,000-square-foot facility in Oldwick, is the primary arbiter of financial strength for over 16,000 insurance companies worldwide.
“These rankings reflect the continued evolution of the global insurance landscape,” stated the report in Best’s Review. “U.S.-based health insurers, in particular, continue to dominate the premium rankings, occupying four of the top five spots.”
New Jersey Giants in the Global Top 10:
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Prudential Financial Inc. (Newark): Ranked No. 5 globally by nonbanking assets.
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MetLife Inc. (Bridgewater/Whippany): Ranked No. 9 globally by nonbanking assets.
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UnitedHealth Group (Iselin/East Brunswick): Ranked No. 1 globally by net premiums written.
Beyond the top spots, State Farm Group emerged as a major mover this year. The company achieved a 16.4% increase in premiums, the highest percentage growth among the top 10, propelling it into the global top five for NPW.
The top 10 global insurers ranked by 2024 nonbanking assets are as follows:
- Berkshire Hathaway Inc., United States
- Allianz SE, Germany
- China Life Insurance (Group) Co., China
- Ping An Insurance (Group) Co. of China Ltd., China
- Prudential Financial Inc., United States
- Legal & General Group Plc, United Kingdom
- AXA S.A., France
- Manulife Financial Corp., Canada
- MetLife Inc., United States
- Life Insurance Corp. of India, India
The top 10 global insurers ranked by 2024 NPW are as follows:
- UnitedHealth Group Inc., United States
- Centene Corp., United States
- Elevance Health, Inc., United States
- Kaiser Foundation Health Plan Group, United States
- State Farm Group, United States
- Humana Inc., United States
- China Life Insurance (Group) Co., China
- Allianz SE, Germany
- Berkshire Hathaway Inc., United States
- AXA S.A., France
