Revealed – top 40 global reinsurance companies
Revealed – top 40 global reinsurance companies | Insurance Business New Zealand
Insurance News
Revealed – top 40 global reinsurance companies
Only one company received a positive outlook
Insurance News
By
Kenneth Araullo
S&P Global Ratings has revealed the top 40 global reinsurers in the market as of 2023, through the latest edition of its Global Reinsurance Highlights report.
Germany-based Munich Re nabbed the top spot, with a rating of AA- and the only positive outlook across all the 40 ranked. The company recorded $48.747 trillion in net reinsurance premiums written as of 2022 and a pretax operating income of $1.623 trillion. Its overall results for Q2 2023 also revealed that the group is well on its way to achieving its annual target.
Coming in second is Swiss Re, which followed closely at $43.917 trillion in net reinsurance premiums written and a pretax operating income of $654 million. Hannover Rueck SE, another German firm, took third place with $31.969 trillion in net reinsurance premiums written and $2.027 trillion in pretax operating income.
Rounding out the top five are Berkshire Hathaway Insurance Group and SCOR, recording $22.147 trillion and $17.046 trillion in net reinsurance premiums written, respectively.
China Reinsurance Group took sixth place and is notable as the only Asian reinsurer that cracked the top 10. Lloyd’s snagged seventh place, followed by the Reinsurance Group of America at eighth, and Everest Group at ninth. Finally, Partner Re took the last spot in the top 10, although it is worth noting that it has not listed its pretax operating income for 2022.
The top global reinsurers
The rest of the top global reinsurers and their respective net reinsurance premiums written are as follows:
Reinsurer
Country
Net reinsurance premiums written
11. RenaissanceRe
Bermuda
$7.196 trillion
12. Fairfax Financial
Canada
$6.079 trillion
13. Korean Reinsurance
Korea
$5.832 trillion
14. MS&AD Insurance Group
Japan
$5.721 trillion
15. Sompo
Japan
$5.162 trillion
16. Arch Capital Group
Bermuda
$4.924 trillion
17. Mapfre Re
Spain
$4.386 trillion
18. General Insurance Corp. of India
India
$4.077 trillion
19. R+V Versicherung AG
Germany
$3.582 trillion
20. Ascot Group
Bermuda
$2.599 trillion
21. Tokio Marine & Nichido Fire Insurance
Japan
$2.586 trillion
22. Toa Re Group
Japan
$2.431 trillion
23. Taiping Reinsurance
Hong Kong
$2.439 trillion
24. Caisse Centrale de Reassurance
France
$2.006 trillion
25. Allianz SE
Germany
$1.890 trillion
26. AXIS Capital Holdings
Bermuda
$1.885 trillion
27. Peak Reinsurance
Hong Kong
$1.758 trillion
28. Associated Electric & Gas Ins. Services
Bermuda
$1.681 trillion
29. QBE Insurance Group
Australia
$1.580 trillion
30. Aspen Insurance
Bermuda
$1.426 trillion
31. Convex Insurance Group
UK
$1.339 trillion
32. SiriusPoint
Bermuda
$1.199 trillion
33. Markel Group
US
$1.167 trillion
34. PICC Reinsurance
China
$1.138 trillion
35. Deutsche Rueckversicherung AG
Germany
$1.107 trillion
36. Chubb Tempest Reinsurance
Bermuda
$1.022 trillion
37. W.R. Berkley Corp.
US
$1.007 trillion
38. African Reinsurance Corp.
Nigeria
$772 million
39. DEVK Rueckversicherungs-und Beteiligungs-AG
Germany
$702 million
40. Lancashire Holdings
Bermuda
$628 million
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