2026 Best's Rankings: Dual Listing of Largest Caribbean Insurers, Based on GAAP and IFRS
OLDWICK, N.J. //BestWire// - Accelerant Holdings and FWD Group Holdings Ltd. are both the largest Caribbean insurer, according to a new Best's Rankings.
Accelerant takes the top spot as a GAAP company, based on $3.38 billion in gross premiums written in 2025.
FWD is the largest IFRS 17 company, based on $2.91 billion in insurance service revenue in 2025, according to the ranking.
Both are domiciled in the Cayman Islands, as are the two No. 2 insurers: GAAP company Greenlight Capital Re Ltd., with $773.3 million in GPW, and IFRS company Royal Bank of Canada Insurance Co. Ltd., with $1.95 billion in insurance service revenue.
The remaining five largest carriers based on GAAP rank are Hadron Holdings 1 LLC, Seguros Universal S.A. and Seguros Reservas S.A.
The remaining five largest IFRS writers are: T D Reins (Barbados) Inc., NCB Financial Group Ltd. and Ocean International Reinsurance Co. Ltd.
The ranking includes companies/groups and country of domicile. Gross premiums written and capital and surplus are listed for GAAP companies and insurance service revenue for IFRS 17 companies.
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Subscribers can access the report and data here.
AM Best data sourced from Best’s Financial Suite, US.
(By Renée Kiriluk-Hill, senior associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)