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Top 10 Players in the Global Health Insurance Market

The global health insurance market size reached US$ 1,590 Billion in 2021. Health insurance refers to a service that protects an insured individual against financial losses arising due to injury or illness. It covers various treatment expenditures partly or entirely, such as medicines, hospitalization costs, doctor consultation fees, ambulance charges, and daycare. It also offers a cashless medical treatment facility, tax benefits, and quicker reimbursements during emergencies. However, the coverage included in a health insurance policy varies for numerous factors such as diseases, age group, government policies, and others. 

As per the analysis by IMARC Group, the top health insurance companies are diversifying their models and strategies to recognize and cater to the evolving consumer demand. They are offering coverage for domiciliary treatment, in which medical supervision is provided at home for specific diseases. Besides this, some leading players are offering cover for medical expenses incurred during the treatment of coronavirus disease (COVID-19). They are also integrating advanced technologies, such as big data analytics, to digitize the claim process and policy management. Moreover, various key players are opting for social media platforms to promote their health insurance policies and create awareness among the masses. Looking forward, IMARC Group expects the market to reach US$ 2,426.6 Billion by 2027, exhibiting a CAGR of 7.2% during the forecast period (2022-2027).

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Top 10 Health insurance keyplayers

List of Top Heath Insurance Companies worldwide:

CVS Health Corporation

Establishment: 1963
Headquarters: Rhode Island, United States
Website: https://cvshealth.com/

CVS Health Corporation is a consumer-centric health solutions company with the objective of helping individuals improve their health. The company also enables businesses to manage health in affordable and effective ways. It has around 9,600 retail pharmacies under the CVS, Longs Drugs, and Navarro brand names. Furthermore, it primarily operates through two business segments, including Pharmacy Services and Retail/LTC. In recent years, the company has acquired healthcare companies like Omnicare and Athena, Inc. to expand its product portfolio and transform the consumer health experience.

AIA Group Limited

Establishment: 1919
Headquarters: Hong Kong
Website: https://www.aia.com/

AIA Group Limited is one of the leading healthcare companies that provide life insurance products and services, including life and medical insurance, accident, critical illness, disability protection, and saving plans to clients. It also provides employee benefits, retirement plans, and credit insurance policies to businesses. AIA aims to become a global industry leader in Environmental, Social, Governance (ESG) while also shaping a sustainable future for the communities and creating long-term value for its stakeholders.

Suggested reading: How Are Health Insurance Providers Operating Post COVID-19 Outbreak?

Allianz SE

Establishment: 1890
Headquarters: Munich, Germany
Website: https://www.allianz.com/

Allianz Group is a global insurance company that offers insurance and asset management services. With around 150,000 employees and 100 million customers in more than 70 countries, the company primarily operates its business into four segments, which include life and health insurance, business insurance, asset management, and property-casualty insurance. In the property-casualty insurance segment, it is one of the leading insurance providers in Germany and one of the biggest providers of corporate insurance in the world.

Aviva Plc

Establishment: 2000
Headquarters: London, United Kingdom
Website: https://www.aviva.com/

Aviva is among the largest insurance companies in the world. It is engaged in providing long-term insurance and savings, fund management products and services, and general and health insurance. The company also offers different kinds of general and life assurance, including fire, motor, marine, aviation, and transport insurance. At present, the company’s core markets are the United Kingdom, Ireland, and Canada.

Berkshire Hathaway Inc.

Establishment: 1839
Headquarters: Nebraska, United States
Website: https://www.berkshirehathaway.com/

Berkshire Hathaway Inc. is a diversified holding company whose subsidiaries operate in insurance, freight, rail transportation, energy generation, and distribution, services, manufacturing, retailing, and other activities. It also holds a large portfolio of equity securities and derivatives, which heavily impact the company’s reported financial performance. The company’s principal operations are insurance businesses conducted nationwide on the main basis and worldwide on a reinsurance basis. Berkshire Hathway also operates as an international association of diversified businesses and specialty chemical companies.

Cigna Corporation

Establishment: 1792
Headquarters: Connecticut, United States
Website: https://www.cigna.com/

Cigna Corporation is an insurance and financial services organization that focuses on healthcare operations. It offers life, disability, accident, supplemental, and dental insurance products and services to individuals, families, and businesses across the globe. It also offers permanent insurance contracts to corporations to provide coverage on the lives of certain employees for financing employer-paid future benefit obligations. It distributes its services and products through insurance brokers and consultants to employers, unions and other groups, individuals, and private and public exchanges. The company’s mission is to improve the health and mental wellness of its customers by making health care simple, affordable, and predictable.

Sirius International Insurance Group Ltd.

Establishment: 1945
Headquarters: Stockholm, Sweden
Website: https://www.siriuspt.com/

Sirius International Insurance Group Ltd. offers innovative insurance solutions to meet the evolving risk circumstances. The insurance lines of the company include environmental, accident and health, property, energy, workers’ compensation, and aviation and space. The company also offers treaty and facultative reinsurance through its worldwide network of local branches. Its reinsurance lines comprise accident, life, and health, property, marine and energy, casualty, aviation and space, and credit and bond. Moreover, with years of expertise, global reach, and a worldwide network of local branches, SiriusPoint underwrites a diverse portfolio while serving clients and brokers in more than 150 countries.

Prudential PLC

Establishment: 1848
Headquarters: London, United Kingdom
Website: https://www.prudentialplc.com/

Prudential is an international life insurance and financial services company that provides long-term savings and protection products, including accident and health insurance, life insurance, property, and casualty insurance, and fixed and variable annuities. Besides this, its services include personal and group pensions, equity plans, mortgages, and deposit accounts. The company majorly operates through four business units, namely, Prudential Corporation Asia, Jackson National Life Insurance Company, Prudential Africa, and Eastspring Investments.

UnitedHealth Group

Establishment: 1977
Headquarters: Minnesota, United States
Website: https://www.unitedhealthgroup.com/

UnitedHealth Group manages and owns organized health systems. The company engages in the provision of software, health care coverage, and data consultancy services. It also provides employers with products and resources to plan and administer employee benefit programs. Since its establishment, the company has acquired various competing healthcare providers, including the acquisition of the online patient community platform PatientsLikeMe in June 2019.

Zurich Insurance Company Ltd.

Establishment: 1872
Headquarters: Zürich, Switzerland
Website: https://www.zurich.com/

Formerly known as Zurich Financial Services Ltd., Zurich Insurance Group offers life and general insurance products and services to small businesses, individuals, mid-sized and large corporations, multinational companies (MNCs), and commercial enterprises. With more than 53,000 employees, it serves products and services in around 210 countries and territories. The company is also integrating environmental, social and governance (ESG) criteria into its insurance and investment processes to create a responsible and ethical approach to business


About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the health insurance industry and regional GCC, Saudi Arabia, UAE, which has enabled clients to set up and expand their businesses successfully.

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