Global reinsurers delivered strong results in the 2024 with further improvement in underwriting profitability, exceptional ROEs. The underlying underwriting margin increased from 2.7% a year ago to 4%.
Total net written premium in 2024 for TOP 25 global largest reinsurance companies totalled $360 bn.
Largest European reinsurers, Munich Re, Swiss Re, and Hannover Re, saw further improvements in earnings in 2024, driven by better underwriting results across most business lines. SCOR reported a loss due to unfavourable changes in its life and health insurance reserving assumptions, according to Fitch Ratings and AM Best.
TOP 25 Global Reinsurers by Net Written Premium
| Rank | Reinsurer | NWP, $ mn | Change, % |
| 1 | Munich Re | 31 587 | 5.2% |
| 2 | National Indemnity | 16 908 | -46.0% |
| 3 | Hannover Re | 12 171 | 5.0% |
| 4 | MAPFRE | 11 353 | 6.9% |
| 5 | RGA | 9 296 | 38.3% |
| 6 | Everest Re | 7 984 | 14.0% |
| 7 | Arch Capital | 7 866 | 14.8% |
| 8 | SCOR | 7 057 | 0.3% |
| 9 | Renaissance Re | 6 038 | 35.4% |
| 10 | WR Berkley | 5 978 | 11.0% |
| 11 | Markel | 4 511 | 1.9% |
| 12 | Axis Capital | 3 296 | 7.9% |
| 13 | Korean Re | 2 202 | -0.8% |
| 14 | Swiss Re | 2 075 | 3.4% |
| 15 | Hiscox | 1 582 | 3.8% |
| 16 | General Re | 1 467 | 16.5% |
| 17 | Fidelis | 1 448 | 13.6% |
| 18 | Transatlantic Re | 1 447 | |
| 19 | Sirius Point Re | 1 283 | -12.2% |
| 20 | QIC | 1 186 | -16.3% |
| 21 | WMIG Ark | 1 101 | 0.4% |
| 22 | QBE | 834 | 9.1% |
| 23 | Fairfax | 748 | 2.5% |
| 24 | Lancashire | 640 | 26.0% |
| 25 | RSUI Indemnity | 512 | |
| Index aggregate | 178 002 | 2.1% | |
| Subset aggregate | 12 753 | 7.0% |
FAQ
Global reinsurers posted strong results in 2024, showing improvements in underwriting profitability and return on equity (ROE). The underlying underwriting margin rose from 2.7% in the previous year to 3.9%, reflecting better risk management and pricing strategies.
The top 25 largest global reinsurers recorded a total net written premium of $360 bn in 2024, with growth driven by improved underwriting results among major players.
Munich Re, Swiss Re, and Hannover Re saw strong earnings growth in 2025, largely due to improved underwriting results across most business lines. SCOR, however, reported a loss because of unfavorable changes in life and health insurance reserving assumptions, as noted by Fitch Ratings and AM Best.
