ميونخ ري في المرتبة الاولى عالمياً

The Top ٥٠ ranking of global reinsurance groups, which measures companies based on reinsurance gross premiums written (GPW), has seen Munich Re hold the top spot every year since ٢٠١٠, with the exception of ٢٠١٧ when it was overtaken by Swiss Re.

A.M. Best said that Munich Re’s return to the No. ١ spot was partly due to true growth in GPW, but added that the company also benefited from some unique circumstances in ٢٠١٧, such as stronger than predicted economic growth in Europe and a weakened British pound, which contributed to an appreciation of the euro against the US dollar.

Together, Munich Re and Swiss Re account for nearly ٪٣٠ of all the GPW in this year’s rankings, and remain the reinsurance market’s “unrivalled frontrunners,” A.M. Best said.

The rating agency also noted that Berkshire Hathaway’s jump in the rankings was driven primarily by the nearly ١٠$ billion reinsurance agreement between its National Indemnity Co. and American International Group Inc., which was not accounted for until the first quarter of ٢٠١٧, despite being finalised in January ٢٠١٦.

Furthermore, despite the drop in ranking, both Hannover Rück SE and SCOR SE experienced year-over-year double-digit GPW growth.

The bottom half of the Top ١٠ positions remained unchanged from the previous year, and A.M. observed that the Top ١٠ reinsurance groups continue to make up roughly ٪٧٠ of the total GPW in the Top ٥٠ ranking.

“The amount of gross premiums written by the Top ١٠ in A.M. Best’s ranking reinforces the sentiment that the industry’s largest reinsurers continue house disproportionately sizable amounts of risk, despite cedants’ efforts to diversify their reinsurance panels and spread out their counterparty risk,” said Robert DeRose, Senior Director at A.M. Best.

The majority of reinsurers in the rankings also grew their books in both life and non-life between ٢٠١٦ and ٢٠١٧, according to A.M. Best, despite the ongoing soft market conditions in non-life, with overall GPW increasing by ٣٦.١$ billion, up from the ٧.٤$ billion increase reported in ٢٠١٦.

Additionally, many reinsurers continued to increase their expenses as companies sought to overcome pricing challenges with new investments in technology and by shifting their business into new lines.

Merger and acquisitions (M&A) activity also continued to influence the rankings, and accounted for the most dramatic change in position, with Sompo Holdings jumping from No. ٤٦ to No. ٢٢ as the consolidation of Endurance Specialty Holdings (now Sompo International Holdings) boosted the company’s life and non-life GPW by ٪٢٦٥.

In contrast, QBE Insurance Group and W.R. Berkley Corporation experienced the most notable downward movements, by ١٤ and ٧ positions respectively.

A.M. Best also found that the average combined ratio for the Top ٥ reinsurers (٪١٠٩,٧) was slightly higher than the average combined ratio for the Top ٪١٠٩.٧) ٥٠), which it said reflected the segment’s results following ٢٠١٧’s heavy catastrophe losses and reinforced the syndicated nature of the sector.

Munich Re has recovered the No ١ position from Swiss Re in A.M. Best’s annual ranking of the Top ٥٠ Global Reinsurance Groups, which also saw Warren Buffett’s Berkshire Hathaway climb two places to No. ٣, pushing Hannover Rück SE and SCOR SE to the four and five spots respectively.