Top Global Reinsurance Groups

This Top Global Reinsurance Groups directory is based on research data from rating agency A.M. Best, and ranks companies based on full-year 2025 performance.

Listing the top reinsurers in the world, this directory provides a simple way to analyse the world’s top reinsurance companies.

You can sort the table by any of the headings and search it to analyse individual reinsurance companies.

Companies that report under IFRS 17 are ranked 1 to 16 based on gross reinsurance revenue, and companies that report under non-IFRS 17 are ranked 1 to 34 based on gross written reinsurance premium. All companies that provided non-group reinsurance financial data were considered by AM Best.

Non-IFRS 17 Rank	IFRS 17 Rank	Company Name	Life & Non-Life Reinsurance Premiums (GPW)	Life & Non-Life Reinsurance Revenue (Gross)	Total Share-holders Funds2	Combined Ratio3
	1	Munich Reinsurance Company		35,418	39,319	73.5
	2	Swiss Re Ltd.		34,564	25,739	79.5
	3	Hannover Rück S.E.		31,513	16,389	84
1		Lloyd's 4,5	27,058		66,828	85.6
2		Berkshire Hathaway Inc.	25,470		719,703	84.5
	4	SCOR S.E.		18,092	5,208	82.4
3		Reinsurance Group of America Inc.	17,482		13,461	N/A
4		Everest Re Group Ltd.	12,825		15,461	91.7
5		RenaissanceRe Holdings Ltd. 7	11,738		11,609	87.2
6		Arch Capital Group Ltd.	11,149		24,206	82.8
7		PartnerRe Ltd.	9,165		11,083	88.6
8		MS&AD Insurance Group Holdings, Inc. 6,7,10	6,804		16,871	95.1
	5	China Reinsurance (Group) Corporation		5,893	17,043	94.2
9		MAPFRE RE, Compañía de Reaseguros S.A. 8	5,426		3,230	93.1
10		General Insurance Corporation of India 6	4,703		9,757	103.3
11		R+V Versicherung AG 9	3,994		2,820	97.7
12		Odyssey Group Holdings, Inc.	3,977		7,412	88.7
	6	Assicurazioni Generali SpA		3,942	40,927	100.3
	7	Canada Life Re		3,839	24,107	81.9
13		Pacific LifeCorp	3,655		14,540	N/A
	8	Korean Reinsurance Company		3,448	2,552	91.6
	9	Sompo International Holdings, Ltd.		3,294	13,904	73.5
	10	AXA XL		3,112	13,936	81.9
14		Liberty Mutual 11	3,075		39,887	91.7
15		Tokio Marine Holdings Inc. 6,12	3,061		34,164	105
16		Convex Group Limited	2,756		4,402	83.5
17		Deutsche Rückversicherung AG 10	2,604		418	92.4
18		Axis Capital Holdings Limited	2,465		6,356	92.6
19		American Agricultural Insurance Company	2,294		888	78.1
20		Allied World Assurance Company Holdings, AG	2,191		7,132	86.6
21		The Toa Reinsurance Company, Limited 6,7	2,105		3,605	93.2
22		Ascot Group Ltd.	2,084		3,058	93.8
	11	QBE Insurance Group Limited		2,037	11,673	83.8
23		Aspen Insurance Holdings Limited	1,905		3,625	86.9
24		DEVK Gruppe	1,668		3,393	91.2
25		Arundo Re	1,651		1,072	89.8
26		W.R. Berkley Corporation 13	1,640		9,701	83.7
	12	Peak Reinsurance Company Ltd.		1,535	1,678	87.9
27		Chubb Limited	1,487		79,779	85.7
28		Core Specialty Insurance Holdings, Inc.	1,435		1,528	96.3
29		Hamilton Insurance Group, Ltd.	1,406		2,822	87.1
30		SiriusPoint Ltd.	1,375		2,471	91.8
31		Somers Re Ltd.	1,330		1,636	95
32		Ark Insurance Holdings Ltd.	1,297		1,696	84.6
	13	African Reinsurance Corporation		1,275	1,396	80.2
	14	Hiscox Ltd.		1,246	3,948	63.9
	15	Taiping Reinsurance Co. Ltd. 7		1,148	1,713	89.9
33		Markel Corporation	1,045		18,596	105.9
	16	Helvetia Insurance Company		981	17,419	91.8
34		Nacional de Reaseguros, S.A.	962		713	98.2

Notes:

1. All non-USD currencies converted to USD using foreign exchange rate at year-end 2025.
2. As reported in the group’s annual statement.
3. Non-Life only.
4. Reflects total reinsurance premium written by all syndicates in the Lloyd’s market. The above list includes insurance groups that write reinsurance business in the Lloyd’s market. As such, reinsurance premium is included in both the insurance group’s premium figure and the Lloyd’s market’s premium figure.
5. Shareholders’ funds includes Lloyd’s members’ assets and Lloyd’s central reserves..
6. Fiscal year ended March 31, 2026.
7. Net asset value used for shareholders’ funds.
8. Premium data excludes intragroup reinsurance.
9. Ratio is as reported and calculated on a gross basis.
10. Ratio is based on the group’s operations.
11. Ratio is based on Liberty Mutual Insurance Europe SE financial statements.
12. Ratio is based on Tokio Marine & Nichido Fiscal Year 2025 reported combined ratio.
13. Ratio includes monoline excess business in addition to reinsurance..
(N/A) – Information not applicable or not available at time of publication.

Source: © A.M. Best Company, Inc. — used by permission.