Munich Re has returned at the very top, besting Swiss Re within the latest ranking according to reinsurance gross written premium (GWP).
The German reinsurance giant – that has been rated number 1 with a.M. Best year in and year from 2010, with the exception of 2017 – has grabbed the best position from the Zurich-headquartered peer. Publishing its 2018 top 50 ranking of worldwide reinsurers, A.M. Best stated the 2 behemoths comprise roughly 30% from the list’s GWP total.
Rounding the top 5 are Berkshire Hathaway, a leap in the fifth place, Hannover Re, and SCOR.
“The nearly $10 billion reinsurance agreement between Berkshire Hathaway’s National Indemnity Co. and American Worldwide Group Corporation. mainly drove Berkshire Hathaway’s begin the ranking,” noted the worldwide rating agency and knowledge provider having a unique concentrate on the insurance industry.
“Although the agreement backward and forward companies was finalized in The month of january 2016, it wasn’t taken into account until first-quarter 2017,” it described. “Despite shedding within the ranking, Hannover Rück SE and SCOR SE experienced year-over-year double-digit gross premiums written growth.”
Meanwhile QBE Insurance Group and W.R. Berkley Corporation fell by 14 and 7 places, correspondingly, with what A.M. Best referred to as “the noticably downward movements” within the 2018 ranking.
“The quantity of gross premiums compiled by the very best 10 inside a.M. Best’s ranking reinforces the sentiment the industry’s largest reinsurers still house disproportionately significant levels of risk, despite cedants’ efforts to diversify their reinsurance panels and disseminate their counterparty risk,” commented senior director Robert DeRose.
On Sunday A.M. Best is going to be hosting its annual Reinsurance Market Briefing only at that year’s Rendez-Vous de Septembre in Monte Carlo, Monaco.