For the second time in the last three years, Swiss Re has topped the Top 50 Global Reinsurance groups ranking released by A.M. Best, taking over the leadership from Munich Re, the undisputed leader since 2010, except for 2016. In fact, while Munich Re leads the non-life sub-ranking, while Swiss Re holds the first position in the life insurance one.
The 2019 edition of the annual Best’s Market Segment Report, “Global Reinsurance: Fighting the Last War” reviews the trends in the industry, based on the 2018 results. The 2019 ranking is based on reinsurance gross premiums written.
“Expect Swiss Re and Munich Re to continue to compete for first place for the foreseeable future,” said Filippo NOVELLA, financial analyst. “They are collectively the largest reinsurance providers of capacity in the market, and make up approximately 30% of total premium among the top 50 groups.”
After moving up in last year’s ranking, bolstered by a reinsurance agreement of almost USD10 billion between National Indemnity Company and American International Group, Inc., Berkshire Hathaway Inc. fell back two spots to No. 5 given the one-off nature of the deal. Hannover Ruck SE and SCOR SE took the three and four spots, respectively. Although Hannover Ruck and SCOR reported modest growth in 2018, the latter experienced a mild top-line decline driven by the weakening of the euro against the U.S. dollar…