The top finance companies in the world are contributing to stellar growth in the global financial services industry as of 2020. The financial services industry is expected to reach a value of nearly $26.5 trillion by 2022. Berkshire Hathaway is the largest financial services company in the world — bringing in annual revenues of USD 247.5 billion and with a current asset value of USD 707.8 billion
This fact sheet is to breakdown the top 10 largest finance companies in the world by revenue and asset value as of 2020, but ultimately the goal is to assist business professionals, investors, and people in general that are interested in gaining insights into the global financial services industry including:
- Discover who are the top finance companies in the world by revenue?
- Who is the largest financial services company?
- How much is the financial services industry growth rate?
- What’s the future of the industry?
- Financial services industry stats and trends you should know.
1. Berkshire Hathaway
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Number 1 on the list of the top 10 largest finance companies in the world is holding company Berkshire Hathaway, an American multinational conglomerate led by Warren Buffet — a name synonymous with modern-day investment and success in business. Berkshire Hathaway is headquartered out of Omaha, Nebraska. Who is the largest financial services company in the world? As of 2020, Berkshire Hathaway is the largest financial services company by revenue in the world, with a revenue of USD 247.5 billion last fiscal year.
Berkshire Hathaway’s revenues mainly come from wholly owning or owning a minority stake it multiple top tier companies including GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Pampered Chef, Forest River, and NetJets. Berkshire Hathaway also has minority holdings in American Express (17.6%), Wells Fargo (9.9%), The Coca-Cola Company (9.4%), Bank of America (6.8%), and Apple (5.22%).
2. PingAn Insurance Group
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Number 2 on this list of the top 10 finance companies in the world is Ping An Insurance Group, a Chinese holding conglomerate that deals with insurance, banking, and financial services. Ping An Insurance is considered to be China’s biggest insurer and one of the largest financial services companies by revenue with 2018 revenues surpassing USD 163.6 billion, with an asset value of over USD 7 trillion.
The company was founded 32 years ago in Shenzhen, China, and is one of the top 50 companies in the Shanghai Stock Exchange.
3. Allianz
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Allianz is the first German company on the list of largest financial services companies by revenue, with annual revenues of USD 143.9 billion and total asset value of USD 973 billion. Allianz is a European multinational financial services company headquartered in Munich, Germany. The company is the world’s largest insurance company as measured by Forbes. Allianz runs its operating in many countries including Canada, the USA, Australia, Belgium, Germany and more. Allianz mainly specializes in asset management and insurance.
- Founded: 1890
- Allianz Headquarters: Munich, Germany
- Allianz Asset Value: USD 973 billion
- Allianz Revenue: USD 143.9 billion
- Allianz Number of Employees: 147,268
4. AXA
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AXA comes in 4th on BizVibe’s ranking of financial services companies by revenue in 2020. AXA is a French multinational insurance firm headquartered in Paris and is known for its imprint in global insurance, investment management, and other financial services. AXA’s revenues last year were USD 113.1 billion — making it one of the top finance companies in the world by revenue. Additionally, AXA has an asset value of over USD 1 trillion.
- Founded: 1816
- AXA Headquarters: 25 Avenue Matignon, Paris, France
- AXA Asset Value: USD 1,008 billion
- AXA Revenue: USD 113.1 billion
- AXA Number of Employees: 125,934
5. JP Morgan Chase
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JPMorgan Chase is an American multinational investment banking company and 5th on BizVibe’s list of the top 10 largest finance companies in the world by revenue. Headquartered in New York City and founded back in 1799 initially as Bank of the Manhattan Company, the company has the third largest hedge fund ion the world.
JPMorgan Chase has total assets of USD 2.68 trillion and their annual revenue last year was 105.4 billion. JPMorgan Chase is one of the big four banks in America, along with Bank of America, Citigroup, and Wells Fargo.
- Founded: 2000
- JPM Headquarters: New York City, New York, United States
- JPM Total Asset Value: USD 2,687 billion
- JPM Revenue: USD 105.4 billion
- JPM Number of Employees: 256,981
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