Largest reinsurers worldwide 2016-2017 by net premiums written
Largest reinsurers worldwide in 2016 and 2017, by net premiums written (in million U.S. dollars)
It was found that the German reinsurer Munich Re was the largest reinsurer worldwide in 2017. The net premiums written by Munich Re in 2016 amounted to approximately 31.84 billion U.S. and rose to approximately 36.45 billion U.S. dollars in 2017. Swiss Re was the largest reinsurer in 2016, but slipped into second place in 2017.
Who are Munich Re?
Munich Re Group was founded in 1880 and is headquartered, unsurprisingly, in Munich, Germany. The gross reinsurance premiums written by the company has steadily grown year-on-year since 2008. The number of employees worldwide has gradually decreased during the same period.
Reinsurance losses
The net premiums written by the largest reinsurers globally mostly increased between 2016 and 2017, with the exception of Swiss Re. 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.
Largest reinsurers worldwide in 2016 and 2017, by net premiums written (in million U.S. dollars)
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