15 Largest Health Insurance Companies in the World | 2022

Biggest Health Insurance Companies

Health Insurance is by far one of the mostly commonly used insurance policies in the world.

In some countries it is mandatory for every citizen to be under health insurance. This is because health can be unpredictable and everyone falls sick once in a while.

Based on most frequent search queries we have been getting on best health insurance companies in the world, our team here through the assistance of our research associates have made available detailed list of 15 Largest Health Insurance Companies in the World.

Our list came from an industry recommendations, expert reviews and turnover as well as history and clients’ experience.

We equally researched on company policies as regards insurance claims and how represented they are around the world.

Insurance is a thriving sector, especially in a world of uncertainties. It remains a good way to keep going when one hits an unexpected misfortune.

15 Largest Health Insurance Companies in the World

All of these providers offer primary health insurance services and products to individuals and companies, including other services like Medicaid and Medicare policies, long-term care insurance, dental insurance and vision benefits.

When we talk about the largest health insurance companies in the world, a large reference goes to the large number of clients on their list compared to the average insurance company.

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UnitedHealth Group

UnitedHealth group is a top insuranc e firm based in the United States. It is a subsidiary of UnitedHealth Group.

The company is the largest health insurance company based on the number of clients and insured individuals on their database.

UnitedHealthcare offers a wide range of products and services for people to choose from.

Clients can get health insurance policies that can cover them, their families or other preferred third party. Big corporations are equally on their list of full employer health benefit plan.

In addition to having health insuranc plans, UnitedHelathcare has a community of over 1.3 million physicians and health professionals at their disposal and an affliation with 6,500 hospitals and counting.

With the description, it is enough to say UnitedHealthcare is already a pacesetter among the leagues of biggest health insurance companies in the world.

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2. Anthem

With a network of over 45 million users, Anthem is obviously a big player in world health insurance industry.

It runs a commercial and business health care unit that provides insurance policies for large corporations, small businesses, individuals, and other health insurance brokers.

Anthem is an integral part of the Blue Cross Blue Shiled Association. This means that when purchasing Anthem insurance policies, you are most likely to come across the BCBS name or trademark. It has a large network of experts and brokers who have been assisting in helping people get value for their money at Anthem.

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As of 2019 Anthem has over $94.7 million health premium written ranking it among the highly profitable insurance companies in the world.

You will find Anthem branches in over 12 states in the United States, in addition to global insurance partners working with them.

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3. Ping An Insurance

Ping An Isurance is not a new comer in the Insurance space. Among the list of Ping An Insurance policies is their health insurance that is considered one of the biggest in the world.

The company provides social health insurers, commercial health insurers, hospitals and healthcare organizations with an automated solution system for their isurance services.

Through a network of over 94,000 pharmacies, health institutions, doctors and professionals, Ping An Insurance group has been able to provide a wide range of satisfactory insurance policies for their large network of clients.

The company has a market capitalization of $217 billion with almost all the health institutions in China in their database. The company is headquartered in Shenzen China.

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4. Aetna

CVS Health Corp acquired Aetna in 2018 and since then the fortunes of the company has grown immensely. The merger witnessed a robust growth in the systems of both companies.

With an establishment that dates as far back 1853, Aetna has gathered a long length of experience that has made it the favorite of many insurance brokers.

Aetna has a dominance in the private market where they provide insurance to employees and their employers.

The company boasts of a network that includes 22.1 million medical members, 12.7 million dental members, 13.1 million pharmacy benefit management services members, 1.2 million health-care professionals, over 690,000 primary care doctors and specialists, and over 5,700 hospitals.

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5. Cigna

Cigna, apart from being among best health insurance companies in the world with high positive reviews, is equally a big player in corporate health insurance policies.

Basically, Cigna is the favorite of many companies who rely on their wealth of experience in getting high value insurance policies.

Among Cigna insurance benefits are dental, behavioral health, vision, supplemental health and Medicare/Medicaid benefits.

As of 2020 Cigna finished the year with a $160.4 Billion in revenue. Cigna has branches in 29 states of the United States including the Washington DC.

6. Humana

Humana comin g on the list of largest health insurance companies in the world is not surprising. This is because of the membership size.

Basically, Humana started off by selling long term care insurance policies before going into full time health insurance policies.

In the past year, Humana has discontinued new ACA policies for individual customers, but will still honor existing ones.

Humana’s current focus is on the Medicare market, and either the Medicare Advantage or Medicare Supplement plans (or both) are offered in all states. Humana has over 50,000 employees with a market capitalization of $50 Billion.

7. Centene Corporation

Apart from being one of the biggest health insurance companies in the US, Centene is equally a globally recognized premium health insurance company.

The company is ranked 24 on the list of Fortune 500 companies. Centene started off as a non-profit organization in 1984 before going public in 2001.

Centene has a long history of acquisition. Acquiring companies like Wellcare, Fidelis Care, Healthnet, Megallan Health in deals worth Billions of dollars.

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These acquisition helped to consolidate Centene position as an industry leader and one of the largest health insurance companies in the world. Centene has a $70 Billion valuation.

8. Molina Healthcare (MOH) 

Molina Healthcare founded in 1980 is a publicly traded Health Insurance company in the United States.

MOH through government programs like Medicare and Medicaid has been at the forefront in the provision of health insurance policies to individuals and corporations in the United States.

Molina has been expanding ever since then with branches in over 12 states of the United States as well as expansion in other insurance premium policies.

The company boasts of over 10,000 employees with a market capitalization of $15 Billion naira.

When Molina first launched their health insurance program, a recorded 11 million people got their insurance under them.

9. Bright Health Group

Bright Health Group was founded by a former CEO of United Healthcare and entered into the health insurance market in 2017. Since then, the company has been a pivotal part of the growth of health insurance in the United States.

BHG is on our list of largest insurance companies in the world for a good number of things. BHG has not been around like many others but has carved a recognizable space for themselves within a little time.

The membership growth has risen to 500,000 and still counting. They partner with a network of physicians and doctors to provide reduced health cost for a good number of individuals under their coverage.

BHG currently boasts of a $9.7 Billion Market Capitalization in addition to making it to the league of top insurance companies in the world.

10. CVS Health

With a market capitalization of over $100 Million and a wide range health services and products, CVS Health is by far one of the largest health insurance companies in the world.

After leaving their mark in the Pharmaceutical sector with CVS pharmacy, the company has gone on to replicate the same feat in the health insurance industry.

CVS made their entrance into the scene with the acquisition of a health insurance provider Aetna in a deal worth over $60 Billion.

The acquisition saw a rise in valuation of the company as well as giving them a place among top health insurance companies in the United States. There are more than 304,000 medical and non-medical employers on CVS workforce.

11. Kaiser Foundation Group of Health Plans 

Kaiser Foundation Group of Health Plans is a consortium of integrated managed healthcare services.

Among Kaiser Permanente’s assets, as of December 31, 2018, the nonprofit Kaiser Foundation Health Plan and Kaiser Foundation Hospitals had 12.5 million members, 216,776 employees, 23,597 physicians, 63,847 nurses, 39 medical centers, and 724 medical facilities.

Kaiser health insurance plans has been able to provide subsidized and affordable healthcare coverage for individuals and corporations under them.

Kaiser has a market capitalization of $80 Billion with over 300,000 workers on their list.

12. Bupa

We cannot finish the list of largest health insurance companies in the world without mentioning Bupa .

Basically, Bupa is an industry giant with decades of experience as a major health insurance underwriter. Bupa has a large global outlook with branches spread across major cities in the world.

Bupa’s 31 Million members is among the highest in the world. Bupa insurance policies covers both individuals and corporations.

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The company also has established hospitals and health institutions fully equipped to provide satisfactory healthcare to their very large members. Bupa is valued at over £20 Billion.

13. Medibank

Medibank aside being one of the largest medical health insurance companies in Australia, is also a global player in the health insurance space.

The company ds a large community of over 3.7 Million members covered under Medibank insurance policies.

It started off a not-for-profit organization before becoming a publicly trading company with an estimated annual revenue of a$6 Billion.

Medibank has equally gone one to partner with other health institutions with some acquisitions that helped establish its place in the league of top health insurance companies in the world.

14. Manulife Financial Corporation  

Manulife is a diverse insurance company with many insurance policy wings. The company is headquartered in Canada but has offices in Asia, America and Europe in addition to other remote partners.

With an establishment that dates as far back as 1887, the company has gathered enough knowledge to be on the list. As a result of a grant received from the China Insurance Regulatory Commission (CIRC) in 2002, a Manulife branch was established in Guangzhou, China. The branch was the first foreign-invested joint venture life insurance firm to obtain a license in the country.

Manulife has a worldwide customer base of 26 million people and a market capitalization of over C$60 Billion.

15. Power Financial Corporation

Power Financial also acts as a holding company providing other investment and financial services aside health insurance.

Currently, Power Financial’s market cap is more than $21 billion. The company is divided into several segments, including LifeCo and IGM.

LifeCo is the company’s primary insurance segment, while IGM is its financial planning subsidiary.

It is one of the largest health insurance companies in Canada in terms of worldwide coverage, it is present in several countries such as Canada, Europe, Asia, and the United States.

Conclusion

Health Insurance has continued to grow as the need for quality affordable healthcare continues to get wide advocacy.

A good number of the insurance companies listed has to a large extent contributed to quality healthcare of their many members.

From the high turnovers in written premiums to membership base, every company listed above has all it takes to be on the list of 15 largest health insurance companies in the world.

The quality of their service is above average.

Health Insurance Companies FAQs

Who is the largest health insurance company in the world?

The largest health insurance company in the world based on industry reviews and written premium is UnitedHealthcare.

What is the number one health insurance company in the United States?

The number 1 health insurance company in the US is UnitedHealthcare.

What is the difference between Kaiser and UnitedHealthcare?

For PPO, United is the only real option since Kaiser is primarily an HMO. Kaiser is cheaper for HMO (generally) although some narrow network HMO plans are offered by United that are comparable in terms of pricing.

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