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2023 was an especially satisfying year for Berkshire Hathaway, which managed to climb several positions to reach second place in the list of insurance companies with the highest revenue volume. The American company achieved revenues close to *** billion U.S. dollars, that is, just 10,000 U.S. dollars less than the insurer leading the ranking, the also U.S.-based UnitedHealth Group.

United States and China, the main drivers

Considering the geographic distribution of the insurance business, it is not surprising that the podium is occupied by three firms originating from the "land of opportunity." In fact, the United States is one of the main drivers of this industry and the second with the highest concentration of companies in the sector within its borders, only behind China.

A changing future

However, the perpetuity of the current hegemony by these giants is not guaranteed. This is demonstrated by examples from other mature markets, such as the European or Japanese, which have experienced declines of more than **** percentage points in recent years in favor of other emerging ones like the Latin American market. The latter, although still far from reaching the astronomical U.S. figures, has become one of the most profitable.