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Best's Rankings
Top 50 World’s Largest Reinsurance Groups – 2021 Edition

Ranked by unaffiliated gross premiums written in 2020.

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(US$ millions)1

Reinsurance Premiums Written Total
Share-holders
Funds2
Ratios3
Life & Non-Life Non-Life Only
Ranking Company Name Gross Net Gross Net Loss Expense Combined
1 Munich Reinsurance Company 45,846 43,096 30,237 29,011 36,845 74.7 30.9 105.6
2 Swiss Re Ltd. 36,579 34,293 21,512 20,636 27,258 78.7 30.3 109.0
3 Hannover Rück SE4 30,421 26,232 20,568 17,449 14,543 72.8 29.1 101.9
4 SCOR S.E. 20,106 17,910 8,795 7,695 7,588 70.2 30.1 100.2
5 Berkshire Hathaway Inc. 19,195 19,195 13,333 13,333 451,336 80.8 25.4 106.2
6 China Reinsurance Group Corporation 16,665 15,453 6,422 6,020 15,772 68.0 33.8 101.8
7 Lloyd's5, 6 16,511 12,213 16,511 12,213 45,010 73.7 33.9 107.6
8 Canada Life Re 14,552 14,497 N/A N/A 21,137 N/A N/A N/A
9 Reinsurance Group of America Inc. 12,583 11,694 N/A N/A 14,352 N/A N/A N/A
10 Korean Reinsurance Company 7,777 5,432 6,427 4,229 2,261 84.6 14.9 99.6
11 Everest Re Group Ltd. 7,282 6,768 7,282 6,768 9,726 76.3 26.7 103.0
12 PartnerRe Ltd. 6,876 6,301 5,377 4,826 7,327 79.5 26.5 106.0
13 General Insurance Corporation of India7 6,481 5,773 6,310 5,608 7,289 91.7 21.4 113.1
14 RenaissanceRe Holdings Ltd. 5,806 4,096 5,806 4,096 7,560 74.0 27.9 101.9
15 AXA XL 5,326 4,201 5,326 4,201 13,238 80.5 30.5 111.0
16 Transatlantic Holdings, Inc 5,237 4,845 5,237 4,845 5,377 72.9 30.7 103.6
17 Arch Capital Group Ltd.11 4,201 2,995 4,201 2,995 13,929 76.0 35.8 111.8
18 MS&AD Insurance Group Holdings, Inc.7, 8 3,922 N/A 3,922 N/A 15,007 N/A N/A 101.712
19 Assicurazioni Generali SpA 3,831 3,831 1,122 1,122 39,056 80.8 29.4 110.2
20 R+V Versicherung AG9 3,785 3,785 3,785 3,785 2,641 83.1 24.5 107.6
21 MAPFRE RE, Compañía de Reaseguros S.A.10 3,600 3,003 3,004 2,416 2,175 69.1 29.3 98.4
22 Sompo International Holdings, Ltd. 3,580 3,088 3,580 3,088 7,386 67.2 29.5 96.7
23 The Toa Reinsurance Company, Limited7, 8 3,104 2,579 2,226 1,801 2,792 72.4 35.0 107.4
24 AXIS Capital Holdings Limited 2,809 1,979 2,809 1,979 5,296 76.4 27.4 103.8
25 Validus Reinsurance, Ltd. 2,409 1,823 2,409 1,823 3,439 77.4 27.8 105.2
26 Caisse Centrale de Réassurance 2,292 2,107 2,155 1,975 6,493 94.4 15.5 109.9
27 Pacific LifeCorp 2,283 1,771 N/A N/A 17,452 N/A N/A N/A
28 Odyssey Group Holdings, Inc. 2,214 2,123 2,214 2,123 4,774 66.9 28.7 95.6
29 Taiping Reinsurance Co. Ltd8 2,098 1,765 1,327 1,089 1,557 70.7 33.2 103.9
30 Peak Reinsurance Company Ltd 1,966 1,517 1,867 1,420 1,487 71.0 26.5 97.4
31 IRB - Brasil Resseguros S.A. 1,846 1,034 1,846 1,034 819 102.3 29.7 132.0
32 SiriusPoint Ltd.13 1,828 1,241 1,826 1,238 2,437 80.7 32.6 113.3
33 Aspen Insurance Holdings Limited 1,661 1,302 1,661 1,302 2,998 74.2 27.6 101.8
34 Qianhai Reinsurance Co., Ltd. 1,574 1,020 386 324 475 75.6 23.1 98.7
35 Deutsche Rückversicherung AG 1,490 958 1,391 915 376 66.5 34.1 100.5
36 QBE Insurance Group Limited 1,417 1,245 1,417 1,245 8,492 83.9 25.2 109.1
37 Tokio Marine & Nichido Fire Insurance Co., Ltd.7, 14 1,372 1,083 1,372 1,083 17,374 N/A N/A 103.7
38 American Agricultural Insurance Company12 1,291 420 1,291 420 639 83.6 17.5 101.2
39 Markel Corporation 1,131 960 1,131 960 12,815 69.8 33.9 103.7
40 Allied World Assurance Company Holdings, AG 956 873 956 873 4,377 69.1 26.5 95.6
41 Fidelis 855 411 855 411 2,034 55.7 32.6 88.3
42 Chubb Limited 832 731 832 731 59,441 62.3 30.2 92.5
43 Lancashire 814 519 814 519 1,539 59.6 50.8 110.4
44 W.R. Berkley Corporation14 810 N/A 810 N/A 631 N/A N/A 95.3
45 African Reinsurance Corporation 805 651 744 600 1,017 62.4 37.6 100.1
46 Nacional de Reaseguros, S.A. 747 590 608 452 497 66.8 30.7 97.6
47 Hiscox Ltd 743 193 743 193 2,354 102.0 33.1 135.2
48 DEVK Re 703 654 695 646 1,565 71.8 28.0 99.8
49 Central Reinsurance Corporation 655 608 549 504 576 71.7 26.5 98.2
50 Qatar Reinsurance Company, Limited 652 547 652 547 750 106.3 34.2 140.5

1 All non-USD currencies converted to USD using foreign ;exchange rate at company’s fiscal year-end.

2 As reported on balance sheet, unless otherwise noted.

3 Non-Life only.

4 Net premium written data not reported, net premium earned substituted.

5 Lloyd’s premiums are reinsurance only. Premiums for certain groups ;within the rankings also may include Lloyd’s Syndicate premiums ;when applicable.

6 Total shareholders’ funds includes Lloyd’s members’ assets and ;Lloyd’s central reserves.

7 Fiscal year ended March 31, 2021.

8 Net asset value used for total shareholders’ funds.

9 Ratios are as reported and calculated on a gross basis.

10 Premium data excludes intergroup reinsurance.

11 Based on Arch Capital Group Ltd. consolidated financial statements; and includes Watford Re segment.

12 Data and ratios based on US statutory filing.

13 Figures represent the combined pro-forma 2020 position of SiriusPoint; taking into account the merger between Third Point Reinsurance Ltd.; and Sirius International Insurance Group, Ltd. in February 2021.

14 Ratios are based on the group’s operations.

N/A = Information not applicable or not available at time of publication.

Source: AM Best data and research



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