It is complicated and in a certain sense not practical to compile a list of the top financial institutes in the world. There are a number of different organisations that provide various services that fall under the category of financial institute. The financial institution is thus an all-encompassing umbrella term for organisations that operate in a number of different verticals. In this article, we look at the most prominent financial institutes in the world based on their overall revenue each year.
1. Berkshire Hathaway Inc.
The financial institution that is located in Omaha, Nebraska, United States was founded in the year 1839; meaning it has not only survived two world wars but has also been operating for over two centuries. It is one of the oldest financial institutes in the world and deals with a number of different services such as insurance, jewellery, real estate, etc. The financial institution is a juggernaut in the financial world and brings in about $163 Billion in annual revenue.
Allianz is a world-renowned financial institution that primarily deals with insurance. And at one point it was regarded as the largest insurance company in the world; rumour has it that it still is, but no official data can be found of the same. The organisation was established in 1891 and is located in Munich, Germany. The financial institution is one of the heavyweights in the financial world and is only second to Berkshire Hathaway. The organisation rakes in annual revenue of around $144 Billion.
3. Assicurazioni Generali
It is the second Europe based financial institutions to show up on this list, displaying the financial prowess of the continent. It is touted as one among the largest insurance companies in the world. The jury is still out on which insurance company is larger, whether Allianz or Assicurazioni. But the organisation as such is the biggest insurance company in Italy. The financial institution was founded in 1831 and is located in Trieste, Italy. The financial institution is one of the longest-running institutes in the world of finance. The company rakes in a yearly revenue of about $120 Billion.
The oldest financial institute to feature on this list is AXA; it was founded in 1817 and is located in Paris, France. It is yet another financial institution that is located in Europe. The organisation primarily deals with investment planning and insurance services. The organisation pulls annual revenue around $117 Billion.
Increasing your wealth is a steady process that takes a lot of discipline. Most people don’t know that by changing just a few things, they can greatly improve their wealth. We’ve compiled a list of things that will help you improve your wealth but do realise that these tips are not instantaneous boosts; they require you to keep at it to see the proposed outcome of increased wealth.
1. Credit Card Management
There are number of tweaks that you can do to how you manage your credit card to greatly improve your wealth in the long run. First and foremost, pay your credit card bills on time and don’t incur any form of credit debt. You must be aware of credit scores and might have even wondered why your credit score isn’t going up; the short answer is that you have not been managing them properly. Credit scores are calculated against the time of payment and the length of your credit history. The second thing that we suggest is that you start looking at ways to diversify your credit cards. Most people believe that having more than one credit card can be troublesome but the benefits will be a lot more if you have more than one credit card that is used for different purposes.
2. Emergency Fund
We can’t stress about this enough. Having an emergency fund can make all the difference; for starters you won’t have to burn through your savings if you have a stable emergency fund for such an occasion. An emergency fund is one where you’ve stashed away enough money to support you for three to six months in the case of an unforeseen event such as the market crashing or the company deciding to downsize, which resulted in the loss of your job.
3. Educate and Equip
You don’t require a fancy finance degree to help you sort out the basics of financial management. Everything is available on the internet, so utilise the internet to learn about new investments and trends to manage your wealth better. That’s not all; there are a number of tools in the market today that can help you manage your finances better as well. For example there are budgeting applications that will let you plan out your budget for the whole month and will take into account any form of savings that you’re undertaking.
There are a number of financial surveys online to understand where you stand when it comes to understanding your finances, we highly recommend that you take one to realise where you stand and decide where you want to reach.