2023 TOP 30 Global Reinsurers by S&P Global Ratings, the data is based on survey responses from reinsurance organizations worldwide from 32 countries.
S&P Global Ratings attempted to verify the data submitted with reference to publicly available data sources, insofar as this was possible. Premium data relates to a company’s reinsurance premiums written but, in some cases, other metrics will include both primary and reinsurance business.
The main group and country listing for each entity surveyed is representative of that group or company’s total reinsurance business written, whether it be life, non-life, or a combination of both.
Top 30 Global Reinsurance Companies
|№||Reinsurer||Net reinsurance premiums written, $mn||Pretax operating income, $mn||Combined ratio, %|
|6||China Re (Group)||16,226.0||1,615.2||95.1|
|8||Re Group of America||12,513.0||121.0||N.A.|
|14||General Insurance of India||5,347.2||513.2||108.1|
|15||MS&AD Insurance Group||5,117.0||N.A.||N.A.|
|17||Fairfax Financial Holdings||4,582.3||206.3||100.4|
|18||Mapfre Re, Compania de Reaseguros||4,159.3||220.4||97.1|
|19||R+V Versicherung AG||3,916.8||334.7||97.3|
|20||Arch Capital Group||3,254.4||949.0||94.2|
|22||Tokio Marine & Nichido Fire Insurance||2,621.7||2,888.3||N.A.|
|24||AXIS Capital Holdings||2,031.7||N.A.||99.0|
|26||Caisse Centrale de Reassurance||1,972.1||327.6||66.9|
|29||QBE Insurance Group||1,482.0||126.0||90.7|
Source: S&P Global Ratings
The combined ratios presented in our Global Reinsurance Highlights report have been calculated as: (net losses incurred + net underwriting expenses)/net premiums earned. The combined (loss and expense) ratio of any entity that writes purely life reinsurance has been marked as not meaningful (N.M.), as we do not consider this to be an accurate measure of a life reinsurer’s profitability.