Berkshire Hathaway leads U.S. holding companies by assets in AM Best ranking
U.S. holding company rankings for 2025 show Berkshire Hathaway at the top by total assets and near the top by revenue. The comparison highlights a split between life and annuity insurers, which account for much of the asset base, and health insurers, which dominate revenue.
Highlights
- Berkshire Hathaway leads U.S. holding companies by assets with $1.22 trillion in 2025, up 5.9%, and ranks second in revenue at $410.52 billion, down 3.2%.
- UnitedHealth Group tops the revenue ranking at $447.57 billion, an 11.8% increase, while Cigna Group and Elevance Health see 12.5% year-over-year revenue growth.
- Life and annuity insurers dominate total asset rankings, whereas health insurers dominate revenue rankings, highlighting segmentation in insurance industry growth drivers.
2025 ranking details across assets and revenue
As reported by AM Best, Berkshire Hathaway posts $1.22 trillion in total assets in 2025, up 5.9%, while its total revenue reaches $410.52 billion, down 3.2% from the prior year.That places the company first among U.S. holding companies by assets and second by revenue. UnitedHealth Group leads the revenue ranking with $447.57 billion, an 11.8% increase from the prior year, according to AM Best research.
Other companies in the top five for total assets are Prudential Financial at $773.74 billion, up 5.2%; MetLife at $745.17 billion, up 10%; Apollo Global Management at $460.95 billion, up 22%; and Athene Holding at $442.21 billion, up 21.7%.
Insurance mix shapes industry standings
In revenue, Cigna Group ranks third with $274.89 billion in 2025, up 12.5% from the prior year. Elevance Health is fourth with $199.13 billion, also up 12.5%, and Centene rounds out the top five with $196.35 billion, up 19.1%.The rankings show life and annuity insurers making up a large share of the asset leaders, while health insurers hold the strongest positions in total revenue. That split underscores how different insurance segments drive scale through balance sheet size on one side and premium and service volume on the other.
Our earlier UnitedHealth Group (UNH) price analysis highlighted a medium-term uptrend with bullish momentum, while noting long-term resistance and overbought technical signals that could lead to a pause or pullback. We also covered shareholder approval of a $2.32 quarterly dividend, upcoming earnings timing, and how cost controls, Medicare Advantage performance, and regulatory scrutiny were shaping investor attention and institutional positioning.
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