The noun phrase <em>one of the largest insects in the word </em>is used as predicate nominative in this sentence. If it is easier for you, just invert the places of the subject (the Goliath beetle) and the predicate nominative (this whole phrase) and it should be easier.
A predicate nominative is the first noun following a linking verb such as to be (or here <em>is).</em>
✡ The term mercenary carry's such a negative association is because its relating to a primary Addiction of making money, focused on just and only that. ✡
✡Korey✡