Based on life and health insurance and investment contract 

reserves or liabilities

China Life Ins  (China)  $798 B

Allianz SE  (Germany)  $769 B  

Ping An Ins Grp(China) $683 B

Prudential Fin Inc (US) $633 B

Manulife Fin (Canada) $589 B

S&P Global

Data compiled July 21, 2025.