Largest reinsurers worldwide 2020, by net premiums written
It was found that the German reinsurer Munich Re was the largest reinsurer worldwide in 2020. The net premiums written by Munich Re amounted to approximately 43.1 billion U.S. dollars. Swiss Re was the second largest reinsurer in 2020 with 34.3 billion U.S. dollars in net premiums.
Who are Munich Re?
Munich Re Group was founded in 1880 and is headquartered, unsurprisingly, in Munich, Germany. The gross reinsurance premiums written by Munich Re have been trending upwards since 2008. Munich Re's number of employees worldwide has gradually decreased during the same period.
Reinsurance losses
Reinsurers take on a portion of the risk portfolios of insurers, which reduces the losses suffered by insurers in the case of large insurance claims, e.g. after property damage from a hurricane. The reinsurance losses incurred by Munich Re were especially high in 2011 and 2017, due to the earthquakes and flooding of 2011 and the 2017 hurricanes.
Who are Munich Re?
Munich Re Group was founded in 1880 and is headquartered, unsurprisingly, in Munich, Germany. The gross reinsurance premiums written by Munich Re have been trending upwards since 2008. Munich Re's number of employees worldwide has gradually decreased during the same period.
Reinsurance losses
Reinsurers take on a portion of the risk portfolios of insurers, which reduces the losses suffered by insurers in the case of large insurance claims, e.g. after property damage from a hurricane. The reinsurance losses incurred by Munich Re were especially high in 2011 and 2017, due to the earthquakes and flooding of 2011 and the 2017 hurricanes.
