Allianz falls to second place as Berkshire Hathaway tops global insurance rankings

Staff Correspondent: Allianz SE, the German insurance powerhouse, has slipped to second place in the 2026 global ranking of the world’s largest insurers by non-banking assets. The top position is now held by US-based Berkshire Hathaway, marking a notable shift in leadership in the global insurance industry.

Founded in 1890 and headquartered in Munich, Allianz has long been regarded as one of the most stable and influential insurers in the world. The company provides life and health insurance, property and casualty coverage and asset management services. Over more than a century, it has expanded far beyond Europe and now operates in over 70 countries, serving many customers worldwide.

In 2025, Allianz ranked first among the world’s 25 largest insurance companies by non-banking assets, according to AM Best. At that time, the company reported approximately $1.09 trillion in total assets. Its sustained leadership highlighted robust capital management, disciplined underwriting, global diversification and consistent long-term strategy.

However, the 2026 rankings show a change at the top. Berkshire Hathaway reported unevenly $1.15 trillion in assets, allowing it to overtake Allianz. Analysts point to Berkshire’s diversified investment portfolio and its strong position in the US market as key drivers of its rise. The company’s broad exposure to insurance operations combined with non-insurance investment has strengthened its balance sheet and enhanced capital flexibility.

Despite the drop to second place, Allianz remains financially strong. The company continues to maintain high credit ratings and a solid capital base. Its asset management team plays a critical role in global financial markets, managing substantial investment across regions and asset classes. The company’s diversified revenue streams help cushion volatility and support long-term growth.

The leadership shift also highlights broader changes in the global insurance landscape. The industry is navigating complex pressures, including climate-related risks, geopolitical uncertainty, inflation and rapid digital transformation. Insurers are being forced to rethink traditional models and invest heavily in technology to remain competitive.

Allianz has responded by accelerating its digital strategy. The company has expanded investment in artificial intelligence, data analytics and technology-driven risk assessment. It is also strengthening its focus on sustainable and environmentally responsible investment, aligning its long-term strategy with global climate and ESG goals. These steps are designed to improve operational efficiency, enhance customers’ experience and position the company for future growth.

Industry experts say that the competition between Allianz and Berkshire Hathaway signals a broader rebalancing of capital strength across regions. The rise of US-based insurers reflects the scale and depth of American financial markets, while European firms such as Allianz continue to rely on global diversification and disciplined governance.