When ranked by gross premiums written (GPW) in 2022, global insurer AXA tops the list of the largest European insurance companies with US$106.1 billion.
AXA also recorded $42.3 billion in capital & surplus from the same year.
Based on data from ratings agency AM Best, our directory of Europe’s largest insurance companies shows that of the big four European reinsurers, only Munich Re and Swiss Re managed to make the top 10, which highlights the growing size of their insurance operations.
Munich Re sits in fourth place with GPW of $71.6 billion, as well as $22.4 billion in capital & surplus. However, Swiss Re sits in ninth place, with GPW of $47.8 billion, along with $12.6 billion in capital & surplus.
French reinsurer SCOR, one of the other big four European reinsurers, came 18th on the list, with GPW of $21.0 billion. But, Hannover Re, the final of the big four, did not make the list.
Moreover, sitting in second place is Allianz with GPW of $100.5 billion. The organisation also had a substantial capital & surplus of $54.9 billion – the highest on the list.
Sitting in third place is Italy-headquartered insurer Generali, with $85.1 billion of GPW, as well as $17.2 billion in capital & surplus.
Sitting one place below Munich Re is Zurich Insurance Group, who recorded $58.8 billion of GPW. Following close behind is Lloyd’s, the world’s oldest insurance and reinsurance marketplace, which recorded $56.3 billion GPW.
HDI Group comes in seventh place, recording $56.0 billion in GPW, and $8.9 billion in capital & surplus.
Property and casualty insurer Chubb comes in eighth place with GPW of $51.9 billion, and $50.5 billion in capital & surplus.
Sitting one place below Swiss Re and closing out the top 10 is CNP Assurances, who recorded $38.4 billion GPW and $18.2 billion capital & surplus.
Interestingly, only two insurers recorded over $100 billion of GPW, with both AXA & Allianz doing so.
