The bar chart comparing the Life & Non-Life Reinsurance Gross Written Premiums (GWP) and Net Written Premiums (NWP) for each company. The chart displays the companies along the x-axis and the dollar amounts (in thousands) along the y-axis. Each company has two bars representing the GWP and NWP respectively.
The prolonged period of low interest rates had previously maintained capital at comfortable levels for these reinsurers.
In recent years, AM Best estimated that companies held 15% to 20% of capital above the minimum required to maintain their Capital Adequacy Ratio (BCAR) at the “strongest” level.
According to S&P Global, the largest reinsurance groups in the world, based on various financial metrics, are as follows:
1. Munich Re (Germany): With net reinsurance premiums written totaling $48.7 billion, Munich Re tops the list. It also reported a pre-tax operating income of $1.6 billion and total adjusted shareholders’ funds of $25.3 billion.
2. Swiss Re (Switzerland): Swiss Re follows closely, with net premiums of $43.9 billion, a pretax operating income of $654 million, and total adjusted shareholders’ funds of $12.7 billion.
3. Hannover Re (Germany): This group recorded $32 billion in net premiums, $2 billion in pretax operating income, and $8.5 billion in total adjusted shareholders’ funds.
4. Berkshire Hathaway Insurance Group (United States): Known for its diverse business operations, Berkshire Hathaway’s insurance group had net premiums of $22.1 billion and total adjusted shareholders’ funds of a staggering $272 billion.
5. SCOR Group (France): With $17 billion in net premiums and $5.4 billion in total adjusted shareholders’ funds, SCOR is another major player in the reinsurance market.
6. China Reinsurance (Group) (China): It reported net premiums of $15.5 billion and total adjusted shareholders’ funds of $13.7 billion.
7. Lloyd’s (United Kingdom): Lloyd’s reported $14.3 billion in net premiums and holds significant total adjusted shareholders’ funds of $47.6 billion.
8. Reinsurance Group of America (United States): They reported net premiums of $13.1 billion and total adjusted shareholders’ funds of $4.1 billion.
9. Everest Group (Bermuda): Everest Group had net premiums of $12.3 billion and total adjusted shareholders’ funds of $10 billion.
10. PartnerRe Ltd. (Bermuda): They recorded $7.5 billion in net premiums and total adjusted shareholders’ funds of $6.3 billion.
This ranking gives a snapshot of the major players in the global reinsurance market as of 2024, based on their financial performance and scale.
The reinsurance industry is dynamic, and these positions can change with new financial data and market developments.
For the most current information on the rankings and financial performance of these groups for 2024, it would be advisable to consult the latest reports and financial statements issued by these companies or relevant financial news and analysis sources.
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