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 billion in net reinsurance premiums written as of 2022 and a pretax operating income of $1.623 billion. 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 billion in net reinsurance premiums written and a pretax operating income of $654 billion. Hannover Rueck SE, another German firm, took third place with $31.969 billion in net reinsurance premiums written and $2.027 billion in pretax operating income.
Rounding out the top five are Berkshire Hathaway Insurance Group and SCOR, recording $22.147 billion and $17.046 billion 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 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 billion |
|
12. Fairfax Financial |
Canada |
$6.079 billion |
|
13. Korean Reinsurance |
Korea |
$5.832 billion |
|
14. MS&AD Insurance Group |
Japan |
$5.721 billion |
|
15. Sompo |
Japan |
$5.162 billion |
|
16. Arch Capital Group |
Bermuda |
$4.924 billion |
|
17. Mapfre Re |
Spain |
$4.386 billion |
|
18. General Insurance Corp. of India |
India |
$4.077 billion |
|
19. R+V Versicherung AG |
Germany |
$3.582 billion |
|
20. Ascot Group |
Bermuda |
$2.599 billion |
|
21. Tokio Marine & Nichido Fire Insurance |
Japan |
$2.586 billion |
|
22. Toa Re Group |
Japan |
$2.431 billion |
|
23. Taiping Reinsurance |
Hong Kong |
$2.439 billion |
|
24. Caisse Centrale de Reassurance |
France |
$2.006 billion |
|
25. Allianz SE |
Germany |
$1.890 billion |
|
26. AXIS Capital Holdings |
Bermuda |
$1.885 billion |
|
27. Peak Reinsurance |
Hong Kong |
$1.758 billion |
|
28. Associated Electric & Gas Ins. Services |
Bermuda |
$1.681 billion |
|
29. QBE Insurance Group |
Australia |
$1.580 billion |
|
30. Aspen Insurance |
Bermuda |
$1.426 billion |
|
31. Convex Insurance Group |
UK |
$1.339 billion |
|
32. SiriusPoint |
Bermuda |
$1.199 billion |
|
33. Markel Group |
US |
$1.167 billion |
|
34. PICC Reinsurance |
China |
$1.138 billion |
|
35. Deutsche Rueckversicherung AG |
Germany |
$1.107 billion |
|
36. Chubb Tempest Reinsurance |
Bermuda |
$1.022 billion |
|
37. W.R. Berkley Corp. |
US |
$1.007 billion |
|
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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