Following list shows the top 50 insurance companies in Europe based on total assets. AXA, a French-based company, is the largest insurance company in Europe and globally. It is also one of the world’s largest asset managers with total assets under management of approximately €1.3 trillion. Allianz, headquartered in Munich, Germany, is the second largest European insurer by assets. Three of the top 5 insurance companies are UK institutions.

Rank Company Country Total Assets (US$b) Balance sheet
1 AXA France 969.953 31/12/2015
2 Allianz Germany 928.232 31/12/2015
3 Legal & General UK 588.025 31/12/2015
4 Aviva UK 574.799 31/12/2015
5 Prudential plc UK 573.481 31/12/2015
6 Generali Italy 547.299 31/12/2015
7 Aegon Netherlands 456.482 31/12/2015
8 CNP Assurances France 430.506 31/12/2015
9 Zurich Insurance Switzerland 381.972 31/12/2015
10 Munich Re Germany 302.346 31/12/2015
11 Standard Life UK 261.888 31/12/2015
12 Swiss Re Switzerland 196.135 31/12/2015
13 Old Mutual UK 197.908 31/12/2015
14 Swiss Life Switzerland 191.551 31/12/2015
15 ERGO Group AG (1) Germany 190.356 31/12/2014
16 NN Group NV Netherlands 177.297 31/12/2015
17 Talanx AG Germany 167.028 31/12/2015
18 Groupama France 117.316 31/12/2015
19 Ageas Belgium 114.245 31/12/2015
20 Covéa Mutual Insurance France 112.668 31/12/2015
21 Chubb Ltd Switzerland 102.366 31/12/2015
22 Achmea Netherlands 101.595 31/12/2015
23 Unipol Gruppo Italy 97.986 31/12/2015
24 Phoenix Group UK 95.605 31/12/2015
25 Delta Lloyd Netherlands 80.330 31/12/2015
26 Baloise Switzerland 77.286 30/06/2015
27 Mapfre Spain 69.419 31/12/2015
28 Hannover Re Germany 69.119 31/12/2015
29 KLP Group Norway 61.859 31/12/2015
30 Storebrand Norway 59.362 31/12/2015
31 XL Group Ireland 58.683 31/12/2015
32 Helvetia Holding Switzerland 54.803 31/12/2015
33 Vienna Insurance Austria 49.028 30/09/2015
34 Mediolanum Italy 48.500 31/12/2015
35 SCOR SE France 45.491 31/12/2015
36 Sampo Oyj Finland 38.968 31/12/2015
37 Uniqa Insurance Group Austria 36.167 31/12/2015
38 Nuernberger Beteiligungs Germany 33.207 30/06/2015
39 RSA Insurance Group UK 30.544 31/12/2015
40 Societa Cattolica di Assicurazioni Italy 25.108 31/12/2015
41 NFU Mutual UK 22.949 31/12/2014
42 Liverpool Victoria (LV=) UK 21.546 31/12/2015
43 AIG Europe Limited UK 20.605 31/12/2014
44 PZU SA Poland 17.346 30/09/2015
45 Direct Line Insurance Group UK 14.756 31/12/2015
46 Gjensidige Forsikring Norway 14.719 31/12/2015
47 Allied World Assurance Company Switzerland 13.512 31/12/2015
48 Amlin (2) UK 10.385 31/12/2015
49 Topdanmark A/S Denmark 9.917 31/12/2015
50 Chesnara UK 8.075 30/06/2015
51 Tryg A/S Denmark 7.515 31/12/2015

The exchange rate on December 31, 2015.
1 - ERGO Group is a subsidiary of Munich Re.
2 - Amlin plc was acquired by Mitsui Sumitomo Insurance in February 2016.