S&P Global Ratings has released its ranking of the top 40 global reinsurers based on year-end 2024 gross reinsurance premiums written (GPW), with Swiss Re taking the top spot at $43.1 billion, overtaking Munich Re from last year.
Swiss Re’s GPW rose from $41.8 billion in 2023 to $43.1 billion in 2024, while Munich Re’s fell from $44.4 billion to $42.8 billion.
The top third to sixth spots remained unchanged, with Hannover Re taking third with $37.7 billion, followed by Berkshire Hathaway Insurance Group ($26.9 billion), Lloyd’s ($23.5 billion), and SCOR ($20.8 billion).
Reinsurance Group of America Inc. moved into seventh place with $18.5 billion, up from $15.8 billion, overtaking China Reinsurance (Group) Corp., which reported $16.4 billion, down from $16.9 billion the previous year.
Everest Group Ltd. ranked ninth with $12.9 billion, followed by RenaissanceRe Holdings Ltd. with $11.7 billion. Arch Capital Group Ltd. fell from 10th to 11th with $11.1 billion in GPW.
In terms of top global reinsurers by country, S&P ranks Hannover Re (Bermuda) Ltd. as the top company in Bermuda. However, S&P was unable to provide an estimate of Hannover Re Bermuda’s total GPW, as the firm reports under IFRS 17. Total gross insurance revenue was $2 billion in 2024.
Arch Reinsurance Ltd. ranks second in Bermuda with $6.2 billion in GPW, followed by Everest Reinsurance (Bermuda) Ltd. with $5.7 billion. Ascot Group Ltd. ranks fourth with $4.7 billion, and Sompo International Holdings Ltd. is fifth with $4.5 billion.
About the Author
