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This statistic shows the leading life insurance companies on the market in Europe, ranked by market value (market capitalization) as of **** of March 2015. In that time, the New Jersey-based Prudential was the largest life insurer operating on the European market, with a market value of nearly ** billion U.S. dollars. Market capitalization, also known as stock market value, is the total value of issued shares of a publicly traded company. It is equal to the share price multiplied by the number of shares outstanding. It applies only to publicly traded companies or companies that have made their stock market debut, also known as the initial public offering, or an IPO. Due to the practice of buying and selling stock in public markets, market capitalization can be used as a proxy for the wider public’s opinion of a company’s net worth. According to the figures from March 2015, the second one in the ranking among the life insurance companies on the European market, with market value of **** billion U.S. dollars, was Legal & General, headquartered in London, United Kingdom.