Allianz: 15 Top competitors and Alternatives

The Allianz Group is one of the world’s top companies that provides comprehensive financial services worldwide. With 126 million corporate and private customers the Allianz Group has become one of the top insurers and asset managers across the world, spreading business in more than 70 countries. 

Allianz is a global investor, handling around 809 billion euros, and enables its customers to access a comprehensive range of personal and corporate insurance services, including assistance services, health insurance, property, and life insurance, so on.

With nearly 155,000 employees, this firm successfully generates billions of euros (as of 2021, €148.51 billion). 

Allianz’s competitors’ list:

Aviva

Aviva Plc is a London-based insurance firm with major business spread across the world. The company has gained about 18 million subscribers throughout its core regions in England, Canada, and Ireland.

Being one of the largest and the best insurance companies, Aviva stands strong to compete Allianz group.

Founded in 2000, the company has already given an opportunity to 22,000 people to be their friendly employees and with their support and aid of them, the company has generated £33.184 billion worth of revenue as of 2021. 

AIG (American International Group)

American International Group, Inc., usually known as AIG, is an American multinational finance and insurance firm.

Founded in 1919, the company is one of the oldest and largest financial service providers in the United States, employing 49,600 employees as of January 1, 2019. The core products of AIG include insurance for Life & Retirement, general insurance, and a separate technology-enabled subsidiary.

Yet the company also provides personal insurance, commercial insurance, international field activities, individual retirement, group retirement, and life and Institutional Markets as a part of their life and retirement insurance. 

Old Republic

Another biggest competitor of Allianz is the Old Republic, one of the 50 largest shareholder-owned insurance companies in America.

The company has ranked in the Fortune 500 list of America’s largest corporations and competes with other insurance companies extensively.

Introduced in 1923, the Old Republic insurance company has employed over 8,700 employees and always ensures customer satisfaction through their property insurance services. The company presently generates billions of worth of revenues each annual year. 

MetLife

Another American-based powerful insurance company is MetLife, Inc., headquarters in New York City. MetLife or Metropolitan Life Insurance Company has over 90 million loyal customers in over 60 countries as the firm has spread its business, loyalty, and authorization in almost every country.

It’s another biggest and most renowned insurance company worldwide that provides insurance, annuities, and employee benefit programs. The organization has a diverse product base for home, life, and auto that attracts most customers, including commercial mortgages, variable life annuities, and structured settlements.

Moreover, the company has reported generating US$71.08 billion in profits as of 2021. 

Axa

Although AXA is a French multinational insurance company, it’s another powerful and rigid insurance company to adopt rivalry with Allianz. Settled in 25 Avenue Matignon, Paris – the company has a massive business and loyal customer base worldwide.

By offering different financing assistance and asset management, the AXA group established its realm in North America, the Middle East, Western Europe, and the Asia-Pacific region.

The company started its journey in 1816 – this French company has generated approx. €103.5 billion in 2019, and reported to drive profit worth billions each year. 

AON Corporation

AON PLC is a British-America multinational banking and financial service provider company that sells a range of financial risk-mitigation products like pension administration, insurance, health insurance, risk consulting, retirement consulting, and so on.

Founded in 1982, the company modified its name AON and currently has over 50,000 employees in 120 countries. The company has its headquarters in the UK and is incorporated in Ireland. It has total assets of $26.08 billion as of 2017. 

Allstate Corporation

Established in 1931, exactly 91 years ago, The Allstate Corporation has become one of the strongest competitors of Allianz.

It’s an American insurance company that serves an expansive customer base throughout the world with a commercial headquarters in Northfield Township, Illinois, near Northbrook, since 1967.

It’s a widely trusted insurance company offering several banking and insurance services for homes, vehicles, life, etc. Allstate Corporation has private strings of insurance operations in Canada.

With a large corporation, the firm generates revenue worth $39.8 billion, ranking it 79th in the list of Fortune 500 – the largest United States corporation by total revenue in 2019. 

Delphi Financial Group

Incorporated in 1987, Delphi Financial Group has established itself as the strongest rival of Allianz company.

It’s a broad company offering banking and several financial services worldwide and gained popularity by providing employee benefit products, for example, workers compensation, disability, life insurance, and personal accident insurance.

It’s an American corporation with a corporate location in Wilmington, Delaware, United States. 

New York Life Insurance

New York Life Insurance or NYLIC is another biggest and the 3rd largest life insurance company in the American region.

Since 1845, the firm has dedicatedly offered insurance services as well as life and annuity services to millennials of the United States.

It has ranked #67 on the Fortune 500 list of the largest United States corporations by total revenue in 2021 and became a robust rival of Allianz. This firm has about $593 billion worth of assets and almost 11,388 employees worldwide. 

The Hartford

One of the top companies in America is Hartford. This United States-based investment and insurance company is a strong competitor of Allianz, founded in 1810.

It’s certainly the oldest insurance company, with almost US$70.82 billion dollars assets and 19,500 employees as recorded in 2019.

The company is the 13th-largest property and casualty insurance company that sells financial products through agents and broker networks. Hartford has its headquarters in Hartford, Connecticut. 

Additional Sources