20. People's Insurance Company of China

Country: China

Employees: 215,362

Headquarters: Beijing

Sales: $69.95 billion

19. Aflac

Country: United States

Employees: 11,318

Headquarters: Columbus, Georgia

Sales: $21.81 billion

18. Dai-Ichi Life Insurance Company

Country: Japan

Employees: 61,446

Headquarters: Tokyo

Sales $57.63 billion

17. Tokio Marine Holdings

Country: Japan

Employees: 36,902

Headquarters: Tokyo

Sales: $47.64 billion

16. Legal & General Group

Country: United Kingdom

Employees: 7,629

Headquarters: London

Sales: $52.15 billion

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15. Allstate

Country: United States

Employees: 42,460

Headquarters: Northbrook, Illinois

Sales: $38 billion

14. Manulife

Country: Canada

Employees: 34,300

Headquarters: Toronto

Sales: $40.09 billion

13. Aviva

Country: United Kingdom

Employees: 30,021

Headquarters: London

Sales: $63.72 billion

12. China Pacific Insurance

Country: China

Employees: 101,887

Headquarters: Shanghai

Sales: $50.94 billion

11. Assicurazioni Generali

Country: Italy

Employees: 71,327

Headquarters: Trieste

Sales: $93.13 billion

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10. Chubb

Country: Switzerland

Employees: 31,000

Headquarters: Zurich

Sales: $32.61 billion

9. Zurich Insurance Group

Country: Switzerland

Employees: 51,633

Headquarters: Zurich

Sales: $64.09 billion

8. AIA Group

Country: Hong Kong

Employees: 20,000

Headquarters: Hong Kong

Sales: $31.92 billion

7. MetLife

Country: United States

Employees: 49,000

Headquarters: New York

Sales: $64.08 billion

6. Prudential Plc

Country: United Kingdom

Employees: 27,151

Headquarters: London

Sales: $111.48 billion

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5. China Life Insurance Company

Country: China

Employees: 102,297

Headquarters: Beijing

Sales: $97.13 billion

4. AXA

Country: France

Employees: 95,728

Headquarters: Paris

Sales: $149.9 billion

3. UnitedHealth Group

Country: United States

Employees: 260,000

Headquarters: Minneapolis, Minnesota

Sales: $207.62 billion

2. Allianz

Country: Germany

Employees: 140,553

Headquarters: Munich

Sales: $122.55 billion

1. Ping An Insurance Group

Country: China

Employees: 342,550

Headquarters: Shenzhen

Sales: $141.62 billion

The business world is watching the insurance industry.

Mega deals and IPOs are shaking up the global insurance industry in 2018, according to Forbes.

In the first quarter of 2018, France’s AXA announced plans acquire Bermuda-based XL Group for $15.4 billion, while U.S.-headquartered AIG announced plans to acquire Bermuda-based reinsurer Validus for $5.6 billion.

U.S.-based insurers more globally competitive

The December 2017 U.S. tax overhaul, which makes U.S.-based insurers more globally competitive, could drive further mergers and acquisitions, Forbes notes.

Forbes recently released the 16th annual Global 2000 list of the largest public companies, which includes the world’s largest insurers. The ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value.

Can you guess the insurer at the top of the 2018 list of world’s largest insurers? The gallery above counts down the top 20 largest insurers on this year’s Forbes’ Global 2000 list.

What to watch in the future

What should insurers watch for in 2018 and beyond, according to Forbes?

  • Rising interest rates.
  • Increased geopolitical risk.
  • How U.S.-based insurers deploy any extra money they have from tax savings.