The 10 largest insurance companies in Australia
The 10 largest insurance companies in Australia have a combined market capitalisation of $70.9 billion, accounting for 99.8% of the nation’s total of $71.05 billion. The overall figure can be attributed to the 13 insurers trading in the Australian Securities Exchange (ASX).
Market capitalisation, also referred to as market cap, is a metric often used by investors to determine whether a company is a risky or safe investment. Although the country’s insurance sector presents relatively fewer options compared to other regions, it still provides a good opportunity for investors looking to diversify their portfolios.
If you’re an investor searching for insurance companies to add to your portfolio, this piece can help narrow down your choices. If you’re an insurance professional, this article can serve as a useful source of information for who you may want to seek work. Here, Insurance Business ranks the 10 biggest insurers listed in the ASX based on market cap. Read on and learn more about the largest insurance companies in Australia.
1. QBE Insurance Group Limited
Market cap: $21.06 billion
Business line: General insurance, reinsurance
Headquarters: Sydney, NSW
QBE is a global insurer and reinsurer with operations in 37 countries. It boasts a 14,500-strong workforce worldwide and offers a range of personal, commercial, and specialty insurance products, as well as risk management solutions. QBE operates five regional divisions, namely:
