Top 50 World’s Largest Reinsurance Groups – 2021 Edition (2024)

FAQs

What are the largest reinsurance companies in the world? ›

[250 Pages Report] Newly released Reinsurance Market analysis report by Future Market Insights shows that global sales of Reinsurance Market in 2021 was held at US$ 292.4 Billion.

Most reinsurers reported profitable results for 2021, despite above-average natural catastrophe losses and ongoing impacts from the pandemic (mainly relating to excess mortality).

The Reinsurance Market size in terms of gross written premiums value is expected to grow from USD 444.40 billion in 2024 to USD 591.90 billion by 2029, at a CAGR of greater than 5.90% during the forecast period (2024-2029).

Guy Carpenter, the “Father of Modern-Day Reinsurance,” disrupted the cotton trade with a data-based approach to analyzing risk that lowered rates for his clients.

Excess of loss reinsurance is a type of reinsurance in which the reinsurer indemnifies–or compensates–the ceding company for losses that exceed a specified limit.

Since January 1, reinsurance market conditions have increasingly favored buyers. Last year began with limited capacity for property catastrophe coverage. However, by 2024, a significant increase in supply led to abundant capacity, driven by appealing risk-adjusted returns for property catastrophe reinsurance.

In 2023, the global reinsurance market saw a significant 12% increase in capacity, reaching $729 billion, according to Gallagher Re's latest report. This growth was fueled by substantially improved profitability.

As of Jun 6, 2024, the average hourly pay for a Reinsurance Broker in California is $50.63 an hour. While ZipRecruiter is seeing salaries as high as $54.61 and as low as $49.37, the majority of Reinsurance Broker salaries currently range between $51.11 (25th percentile) to $53.61 (75th percentile) in California.

What is the oldest reinsurance company in the world? ›

Hamburger Feuerkasse (English: Hamburg Fire Office) is the first officially established fire insurance company in the world, and the oldest existing insurance enterprise available to the public, having started in 1676.

The most common is called proportional treaties, in which a percentage of the ceding insurer's original policies is reinsured, up to a limit. Any policies written in excess of the limit are not to be covered by the reinsurance treaty.

Germany-based Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft (Munich Re) is the leading reinsurer in the world (by written premiums).

The most commonly cited is the "10/10 rule." This rule states that a contract passes the threshold if there is at least a 10 percent probability of sustaining a 10 percent or greater present value loss (expressed as a percentage of the ceded premium for the contract).

Reinsurers play a major role for insurance companies as they allow the latter to help transfer risk, reduce capital requirements, and lower claimant payouts. Reinsurers generate revenue by identifying and accepting policies that they believe are less risky and reinvesting the insurance premiums they receive.

RGA was taken public by IPO in 1993 on the New York Stock Exchange (NYSE: RGA), with General American retaining a 65% share. MetLife acquired General American in 2000, including its interest in RGA, and after 8 years of ownership, MetLife spun RGA off to become a fully independent company.

Our Company

As of December 31, 2023, RGA had approximately $3.7 trillion of life reinsurance in force, assets of $97.6 billion, and a singular purpose: to make financial protection accessible to all.