Top Global Reinsurance Groups

This Top Global Reinsurance Groups directory is based on research data from rating agency A.M. Best, and ranks companies based on full-year 2023 performance.

Listing the top reinsurers in the world, this directory provides a simple way to analyse the world’s top reinsurance companies.

You can sort the table by any of the headings and search it to analyse individual reinsurance companies.

Companies that report under IFRS 17 are ranked 1 to 15 based on gross reinsurance revenue, and companies that report under non-IFRS 17 are ranked 1 to 35 based on gross written reinsurance premium. All companies that provided non-group reinsurance financial data were considered by AM Best.

Non-IFRS 17 Rank	IFRS 17 Rank	Company Name	Life & Non-Life Reinsurance Premiums (GPW)	Life & Non-Life Reinsurance Revenue (Gross)	Total Share-holders Funds²	Combined Ratio³


1		Swiss Re Ltd.	40,503		16,371	94.1
	1	Munich Reinsurance Co⁴		32,921	32,863	85.2
2		Berkshire Hathaway Inc	27,453		567,509	84.0
	2	Hannover Rück SE		26,995	12,164	94.0
3		Lloyd’s^5,6	22,075		56,869	80.2
	3	SCOR S.E.		17,575	5,213	85.0
4		Reinsurance Group of America Inc	14,281		9,171	N/A
5		RenaissanceRe Holdings Ltd.⁷	12,340		9,455	78.0
6		Everest Re Group Ltd.	11,460		13,202	86.4
7		Arch Capital Group Ltd.	9,113		18,353	81.5
8		PartnerRe Ltd.	9,102		8,424	81.7
	4	China Reinsurance (Group) Corp		5,986	14,453	93.5
9		MS&AD Insurance Group Holdings, Inc^{8, 9,12}	5,777		13,814	98.7
10		General Insurance Corp of India⁸	4,544		10,283	111.7
11		MAPFRE RE, Compañía de Reaseguros S.A.¹⁰	4,295		2,553	97.2
	5	Assicurazioni Generali SpA		4,204	34,532	107.4
	6	Korean Reinsurance Co		3,979	2,505	95.5
12		Odyssey Group Holdings, Inc	3,741		5,963	89.5
	7	Canada Life Re		3,560	22,535	N/A
13		R+V Versicherung AG¹¹	3,447		2,646	98.1
14		Pacific LifeCorp	3,212		9,767	N/A
15		Liberty Mutual¹³	3,029		25,060	95.9
	8	Sompo International Holdings, Ltd.		2,974	10,371	75.5
	9	AXA XL		2,814	12,651	80.0
16		The Toa Reinsurance Co, Limited^8,9	2,344		2,689	98.4
17		AXIS Capital Holdings Limited	2,216		5,263	107.6
18		Convex Group Limited	2,115		3,157	74.6
19		Deutsche Rückversicherung AG¹²	1,945		364	99.6
20		American Agricultural Insurance Co	1,896		712	102.0
21		Allied World Assurance Co Holdings, Ltd.	1,849		5,670	88.9
22		Tokio Marine & Nichido Fire Insurance Co., Ltd.^8,14	1,571		16,622	95.9
	10	Peak Reinsurance Co Ltd		1,556	1,282	87.3
23		Aspen Insurance Holdings Limited	1,521		2,909	81.4
24		W.R. Berkley Corp¹⁵	1,411		7,455	82.1
25		Qianhai Reinsurance Co., Ltd.	1,372		500	99.6
26		Ascot Group Ltd.	1,362		1,869	149.6
	11	IRB – Brasil Resseguros S.A.		1,344	878	99.5
27		CCR Re	1,309		885	96.9
	12	QBE Insurance Group Limited		1,301	9,953	100.7
28		DEVK Gruppe	1,277		2,835	95.1
29		SiriusPoint Ltd.	1,271		2,531	80.0
	13	Taiping Reinsurance Co. Ltd⁹		1,206	1,410	94.9
30		Chubb Limited	1,151		63,691	75.6
31		Somers Re Ltd.	1,048		1,111	94.1
32		Markel Corp	1,047		15,056	101.9
	14	African Reinsurance Corp		1,046	1,066	87.7
33		Core Specialty Insurance Holdings, Inc	1,037		1,124	106.4
	15	Hiscox Ltd		970	3,297	68.3
34		Ark Insurance Holdings Ltd.	966		1,107	92.5
35		Hamilton	839		2,048	68.4

Showing 1 to 50 of 50 entries

Notes:

1. All non-USD currencies converted to USD using foreign exchange rate at year-end 2023.

2. As reported in the group’s annual statement.

3. Non-Life only.

4. Munich Re’s results in prior years included global specialty insurance; the revenue associated with this line was removed from reinsurance revenues for year-end 2023.

5. Reflects total reinsurance premium written by all syndicates in the Lloyd’s market. The above list includes insurance groups that write reinsurance business in the Lloyd’s market. As such, reinsurance premium is included in both the insurance group’s premium figure and the Lloyd’s market’s premium figure

.
6. Shareholders’ funds includes Lloyd’s members’ assets and Lloyd’s central reserves.

7. RenaissanceRe Holdings Ltd completed its acquisition of Validus Re in October of 2023. 2023 Premiums for Validus were included on a pro-forma basis.

8. Fiscal year ended March 31, 2024.

9. Net asset value used for shareholders’ funds.

10. Premium data excludes intragroup reinsurance.

11. Ratio is as reported and calculated on a gross basis.

12. Ratio is based on the group’s operations.

13. Ratio is based on Liberty Mutual Insurance Europe SE financial statements.

14. Ratio is based on Tokio Marine & Nachido Fiscal Year 2023 reported combined ratio.

15. Ratio includes monoline excess business in addition to reinsurance.

(N/A) – Information not applicable or not available at time of publication.

Top 50 Global Reinsurance Groups, 2022

This Top 50 Global Reinsurance Groups directory is based on research data from rating agency A.M. Best, and ranks companies based on full-year 2022 gross life & non-life reinsurance premiums written.

You can sort the table by any of the headings and search it to analyse individual reinsurance companies.

This table is the last year when AM Best ranked the top 50 global reinsurers in a single list, with additional sub-lists to highlight rankings based on life and non-life premium.

Ranking	Reinsurance Company Name	Gross Life & Non-Life Reinsurance Premiums Written	Net Life & Non-Life Reinsurance Premiums Written	Gross Non-Life Only Reinsurance Premiums Written	Net Non-Life Only Reinsurance Premiums Written	Shareholders Funds (2)	Loss Ratios (3)	Expense Ratios (3)	Combined Ratios (3)


1	Munich Reinsurance Company	$51,331	$48,550	$36,729	$35,290	$22,638	66.5%	29.7%	96.2%
2	Swiss Re Ltd.	$39,749	$37,302	$23,763	$22,826	$12,809	74.2%	28.2%	102.4%
3	Hannover Rück S.E. 4	$35,528	$29,672	$25,884	$21,637	$9,339	71.9%	27.9%	99.8%
4	Canada Life Re	$23,414	$23,414	N/A	N/A	$23,863	N/A	N/A	N/A
5	Berkshire Hathaway Inc. 5	$22,147	$22,147	$16,962	$16,962	$480,617	66.1%	20.3%	86.4%
6	SCOR S.E.	$21,068	$17,055	$10,695	$8,782	$5,481	84.1%	29.1%	113.2%
7	Lloyd’s 6, 7	$18,533	$14,162	$18,533	$14,162	$47,766	63.6%	30.8%	94.4%
8	China Reinsurance (Group) Corporation	$16,865	$15,395	$7,688	$7,207	$13,675	68.2%	28.1%	96.4%
9	Reinsurance Group of America Inc.	$13,823	$13,052	N/A	N/A	$4,145	N/A	N/A	N/A
10	Everest Re Group Ltd.	$9,316	$8,983	$9,316	$8,983	$8,441	69.2%	27.1%	96.4%
11	RenaissanceRe Holdings Ltd.	$9,214	$7,196	$9,214	$7,196	$9,111	68.5%	29.1%	97.6%
12	PartnerRe Ltd.	$8,689	$7,544	$7,015	$5,899	$6,288	59%	27.6%	86.7%
13	Korean Reinsurance Company	$7,804	$5,797	$6,129	$4,195	$2,227	82.3%	15.9%	98.2%
14	Arch Capital Group Ltd.	$6,948	$4,924	$6,948	$4,924	$12,910	64.9%	27.3%	92.2%
15	MS&AD Insurance Group Holdings, Inc. 8, 9, 12	$5,153	N/A	$5,153	N/A	$13,503	N/A	N/A	98.7%
16	General Insurance Corporation of India 8	$4,519	$4,108	$4,332	$3,927	$8,211	90.3%	17.6%	107.9%
17	Sompo International Holdings, Ltd.	$4,119	$3,715	$4,119	$3,715	$8,461	60%	30.1%	90.1%
18	MAPFRE RE, Compania de Reaseguros S.A. 10	$3,849	$3,273	$3,201	$2,631	$2,020	70.4%	26.7%	97.1%
19	Assicurazioni Generali SpA	$3,822	$3,822	$1,372	$1,372	$19,365	70.8%	30.4%	101.2%
20	Odyssey Re Holdings Corp.	$3,721	$3,595	$3,721	$3,595	$5,302	69.7%	26%	95.7%
21	AXA XL	$3,385	$2,812	$3,385	$2,812	$9,334	74.2%	32.6%	106.8%
22	R+V Versicherung AG 11	$3,158	$3,158	$3,158	$3,158	$2,560	73.3%	25.5%	98.8%
23	Validus Reinsurance, Ltd.	$3,080	$2,529	$3,080	$2,529	$3,307	63.4%	31.3%	94.8%
24	Pacific LifeCorp	$2,995	$2,546	N/A	N/A	$6,728	N/A	N/A	N/A
25	The Toa Reinsurance Company, Limited 8, 9	$2,931	$2,397	$2,090	$1,661	$2,282	77.8%	30.8%	108.6%
26	Liberty Mutual 13	$2,921	$2,567	$2,921	$2,567	$22,208	75.4%	32.5%	107.8%
27	Axis Capital Holdings Limited	$2,629	$1,885	$2,629	$1,885	$4,640	71.9%	27.2%	99.1%
28	Peak Reinsurance Company Ltd.	$2,295	$1,758	$2,113	$1,587	$1,198	85.7%	20%	105.8%
29	Taiping Reinsurance Co. Ltd. 9	$2,276	$2,035	$1,763	$1,545	$1,417	64.5%	38.1%	102.6%
30	Caisse Centrale de Reassurance	$2,206	$2,007	$2,002	$1,813	$3,183	152%	11.8%	163.7%
31	Qianhai Reinsurance Co., Ltd.	$1,841	$740	$410	$319	$489	73.8%	26.5%	100.3%
32	Aspen Insurance Holdings Limited	$1,807	$1,426	$1,807	$1,426	$2,358	61.5%	31.5%	93.1%
33	QBE Insurance Group Limited	$1,784	$1,580	$1,784	$1,580	$8,992	53.3%	6.3%	59.6%
34	Tokio Marine & Nichoda Fire Insurance Co 8, 14	$1,656	$1,321	$1,656	$1,321	$16,317	N/A	N/A	95.8%
35	Deutsche Rueckversicherung AG	$1,610	$1,096	$1,517	$1,043	$340	65.4%	30.1%	95.5%
36	American Agricultural Insurance Company	$1,556	$479	$1,556	$479	$691	80%	16.6%	96.6%
37	SiriusPoint Ltd.	$1,521	$1,200	$1,521	$1,200	$2,083	70.6%	35%	105.5%
38	IRB – Brasil Resseguros S.A.	$1,493	$940	$1,284	$758	$771	103.6%	23.1%	126.6%
39	Allied World Assurance Company Holdings, AG	$1,492	$1,388	$1,492	$1,388	$4,595	76.9%	25.1%	102%
40	Convex Group Limited	$1,492	$1,139	$1,423	$1,139	$2,266	67.1%	17.9%	85%
41	Markel Corporation	$1,231	$1,168	$1,230	$1,167	$13,128	61.2%	30.9%	92.1%
42	Chubb Limited	$1,095	$943	$1,095	$943	$50,540	72.7%	29.9%	102.6%
43	W.R. Berkley Corporation 15	$1,081	$997	$1,081	$997	$6,748	61.3%	28.4%	89.7%
44	Core Specialty Insurance Holdings	$1,043	$777	$1,043	$777	$1,118	82.1%	15.9%	98%
45	Hiscox Ltd.	$1,038	$268	$1,038	$268	$2,417	54.8%	30.9%	85.6%
46	Somers Re	$1,019	$855	$1,019	$855	$772	71.3%	29.2%	100.5%
47	African Reinsurance Corporation	$952	$773	$861	$695	$990	59.4%	34.9%	94.3%
48	DEVK Re	$848	$759	$841	$752	$2,614	72.4%	27.1%	99.4%
49	Lancashire	$842	$629	$842	$629	$1,268	71%	26.4%	97.5%
50	Nacional de Reaseguros	$737	$610	$619	$493	$469	72.9%	31.2%	104.1%

Showing 1 to 50 of 50 entries

Notes:

1. All non-USD currencies converted to USD using foreign exchange rate at company’s fiscal year-end.
2. As reported in the group’s annual statement.
3. Non-Life only.
4. Net premium written data not reported, net premium earned substituted.
5. Berkshire Hathaway completed its acquisition of Alleghany Corp. on October 19, 2022, and, per US GAAP accounting rules, incurs premiums and expenses only.
6. Lloyd’s premiums are for reinsurance only. Premiums for certain groups in the rankings also may include Lloyd’s Syndicate premiums when applicable.
7. Shareholders’ funds includes Lloyd’s members’ assets and Lloyd’s central reserves.
8. Fiscal year ended March 31, 2023.
9. Net asset value used for shareholders’ funds.
10. Premium data excludes intergroup reinsurance.
11. Ratios are as reported and calculated on a gross basis.
12. Ratios are based on the group’s operations.
13. Ratios are based on Liberty Mutual Insurance Europe SE financial statements.
14. Ratios are based on the group’s domestic business.
15. Ratios include monoline excess business in addition to reinsurance.
(N/A) – Information not applicable or not available at time of publication.

Top Global Reinsurance Groups

Top 50 Global Reinsurance Groups, 2022

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