(Editor's Note: This article, originally published on August 30, 2022, has been republished to clarify some figures in Tables 1 and 2. A corrected version follows.)
To bring you the 2022 edition of Global Reinsurance Highlights, S&P Global Ratings sought data on 152 reinsurance organizations from 32 countries. As in previous years, the data is based on survey responses from reinsurance organizations worldwide.
To ensure consistency, we requested that respondents complied with clear guidelines on the definition of the financial items required. In addition, S&P Global Ratings attempted to verify the data submitted with reference to publicly available data sources, insofar as this was possible.
Our ongoing aim in producing this data is to provide market participants with an indication of the ongoing reinsurance capacity available in each market. Hence, we try to exclude intragroup reinsurance, as far as possible. Companies that have not been able to exclude intragroup reinsurance are highlighted in the footnotes.
One of the challenges has been to separate reinsurance from primary insurance business, especially when reinsurance operation is a division within a company and not a distinct operation. Generally speaking, the premium data relates to a company's reinsurance premiums written but, in some cases, other metrics will include both primary and reinsurance business. These cases can be identified through the footnotes to the tables, although if we do not consider that the metrics provided by the company are representative of the company's reinsurance operations, we have marked the metric as not available (N.A.).
For companies that report in currencies other than the U.S. dollar, we have converted the reported data at year-end exchange rates.
We have endeavoured to collect the data underlying each group or entity's combined ratio in order to calculate this metric in a comparable manner. The combined ratios presented in our Global Reinsurance Highlights report have been calculated as: (net losses incurred + net underwriting expenses)/net premiums earned. The combined (loss and expense) ratio of any entity that writes purely life reinsurance has been marked as not meaningful (N.M.), as we do not consider this to be an accurate measure of a life reinsurer's profitability. For groups or entities that write both non-life and life reinsurance business, the combined ratio reflects non-life business only.
The main group and country listing for each entity surveyed is representative of that group or company's total reinsurance business written, whether it be life, non-life, or a combination of both.
Table 1
| Top 40 Global Reinsurers | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net reinsurance premiums written (Mil. $) | Pretax operating income (Mil. $) | Combined ratio (%) | Total adjusted shareholders' funds (Mil. $) | Return on revenue (%) | ||||||||||||||||||||||||||||
| Ranking | Company | Country | Rating | Outlook | Footnote | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||
| 1 |
Munich Reinsurance Co. |
Germany | AA- | Stable | 1 | 44,598.7 | 42,937.0 | 2,131.1 | 209.3 | 99.7 | 105.7 | 52,958.3 | 42,286.0 | 4.8 | 0.4 | |||||||||||||||||
| 2 |
Swiss Reinsurance Co. |
Switzerland | AA- | Negative | 2 | 43,220.0 | 39,827.0 | 1,294.0 | -2,820.0 | 92.4 | 110.6 | 23,568.0 | 27,135.0 | 2.8 | -6.4 | |||||||||||||||||
| 3 |
Hannover RE |
Germany | AA- | Stable | 28,267.7 | 27,318.6 | 1,517.8 | 893.7 | 98.0 | 101.9 | 13,885.8 | 14,090.2 | 5.2 | 3.2 | ||||||||||||||||||
| 4 |
Berkshire Hathaway Insurance Group |
U.S. | AA+ | Stable | 20,579.0 | 19,761.0 | -930.0 | -2,700.0 | 104.3 | N.A. | 301,000.0 | 237,000.0 | -4.6 | -14.4 | ||||||||||||||||||
| 5 |
SCOR SE |
France | AA- | Negative | 16,308.6 | 17,713.0 | 651.6 | 449.5 | 100.6 | 100.2 | 7,261.0 | 7,477.6 | 4.0 | 2.5 | ||||||||||||||||||
| 6 |
China Reinsurance (Group) Corp. |
China | A | Stable | 16,226.0 | 15,446.8 | 1,615.2 | 1,010.9 | 95.1 | 101.8 | 16,148.8 | 15,765.4 | 8.8 | 5.9 | ||||||||||||||||||
| 7 |
Lloyd's |
U.K. | A+ | Stable | 3 | 14,319.7 | 12,296.1 | 662.3 | -896.9 | 95.2 | 107.6 | 48,432.5 | 45,315.6 | 4.8 | -7.6 | |||||||||||||||||
| 8 |
Reinsurance Group of America, Inc. |
U.S. | AA- | Stable | 12,513.0 | 11,694.0 | 121.0 | 627.0 | N.A. | N.A. | 13,014.0 | 14,352.0 | 0.7 | 4.3 | ||||||||||||||||||
| 9 |
Everest Re Group Ltd |
Bermuda | A+ | Stable | 11,445.5 | 9,117.0 | 1,259.5 | 325.3 | 97.8 | 102.9 | 9,450.9 | 8,915.3 | 10.9 | 3.5 | ||||||||||||||||||
| 10 |
PartnerRe Ltd. |
Bermuda | A+ | Stable | 7,134.0 | 6,301.0 | N.A. | N.A. | 90.5 | 106.0 | 7,544.0 | 7,327.0 | N.A. | N.A. | ||||||||||||||||||
| 11 |
RenaissanceRe Holdings Ltd. |
Bermuda | A+ | Stable | 5,939.4 | 4,096.3 | N.A. | N.A. | 103.8 | 105.7 | 6,624.3 | 7,560.2 | N.A. | N.A. | ||||||||||||||||||
| 12 |
Sompo Holdings Inc. |
Japan | A+ | Stable | 5,901.2 | 5,223.5 | N.A. | N.A. | N.A. | N.A. | 21,910.4 | 21,530.6 | N.A. | N.A. | ||||||||||||||||||
| 13 |
Transatlantic Holdings Inc. |
U.S. | A+ | Watch positive | 5,387.4 | 4,845.0 | 319.1 | 97.8 | 99.5 | 103.6 | 5,398.4 | 5,377.1 | 5.5 | 2.0 | ||||||||||||||||||
| 14 |
General Insurance Corp. of India |
India | N.R. | 5,347.2 | 5,814.1 | 513.2 | 421.3 | 108.1 | 113.1 | 3,940.3 | 3,603.9 | 7.6 | 6.3 | |||||||||||||||||||
| 15 |
MS&AD Insurance Group Holdings, Inc. |
Japan | A+ | Stable | 5,117.0 | 4,838.0 | N.A. | N.A. | N.A. | N.A. | 41,845.1 | 40,609.9 | N.A. | N.A. | ||||||||||||||||||
| 16 |
Korean Reinsurance Co. |
South Korea | A | Stable | 5,089.4 | 5,426.6 | 159.8 | 191.8 | 102.2 | 99.9 | 2,280.6 | 2,379.5 | 3.0 | 3.5 | ||||||||||||||||||
| 17 |
Fairfax Financial Holdings Ltd. |
Canada | A | Stable | 4,582.3 | 3,625.7 | 206.3 | 286.2 | 100.4 | 96.6 | 15,049.6 | 12,521.1 | 4.8 | 8.0 | ||||||||||||||||||
| 18 |
Mapfre Re, Compania de Reaseguros, S.A. |
Spain | A+ | Stable | 4,159.3 | 3,976.8 | 220.4 | 27.3 | 97.1 | 100.7 | 2,043.7 | 2,151.5 | 5.4 | 0.7 | ||||||||||||||||||
| 19 |
R+V Versicherung AG |
Germany | A+ | Stable | 3,916.8 | 4,295.3 | 334.7 | 60.0 | 97.3 | 105.7 | 7,029.7 | 7,575.0 | 8.0 | 1.3 | ||||||||||||||||||
| 20 |
Arch Capital Group Ltd. |
Bermuda | A+ | Stable | 3,254.4 | 2,457.4 | 949.0 | 330.0 | 94.2 | 99.5 | 9,489.8 | 9,278.0 | 31.3 | 13.7 | ||||||||||||||||||
| 21 |
Toa Reinsurance Co. |
Japan | A+ | Negative | 2,732.8 | 2,601.8 | -115.2 | -13.5 | 108.5 | 105.3 | 2,873.9 | 2,774.4 | -4.1 | -0.5 | ||||||||||||||||||
| 22 |
Tokio Marine & Nichido Fire Insurance Co. Ltd. |
Japan | A+ | Stable | 2,621.7 | 2,573.1 | 2,888.3 | 1,423.0 | N.A. | N.A. | 26,638.3 | 26,568.9 | N.A. | N.A. | ||||||||||||||||||
| 23 |
Taiping Reinsurance Co. Ltd. |
Hong Kong | A | Negative | 2,483.2 | 2,173.1 | -127.1 | -92.3 | 103.9 | 103.9 | 1,508.0 | 1,557.1 | -5.9 | -5.1 | ||||||||||||||||||
| 24 |
AXIS Capital Holdings Ltd. |
Bermuda | A+ | Stable | 2,031.7 | 1,978.9 | N.A. | N.A. | 99.0 | 103.8 | 5,410.7 | 5,295.7 | N.A. | N.A. | ||||||||||||||||||
| 25 |
Ascot Group Ltd. |
Bermuda | A- | Stable | 1,981.6 | 1,299.8 | -24.4 | 155.3 | 97.4 | 92.9 | 1,712.5 | 1,747.2 | -1.5 | 13.7 | ||||||||||||||||||
| 26 |
Caisse Centrale de Reassurance |
France | AA | Stable | 1,972.1 | 2,099.5 | 327.6 | -92.3 | 66.9 | 110.9 | 6,996.2 | 6,740.8 | 15.1 | -4.3 | ||||||||||||||||||
| 27 |
Peak Reinsurance Co. Ltd. |
Hong Kong | N.R. | 1,793.9 | 1,517.3 | 73.5 | 93.7 | 98.6 | 93.9 | 1,218.9 | 1,236.3 | 4.1 | 6.6 | |||||||||||||||||||
| 28 |
Allianz SE |
Germany | AA | Stable | 4 | 1,509.9 | 1,486.0 | 97.5 | 30.3 | 91.9 | 97.8 | N.A. | N.A. | 6.6 | 2.2 | |||||||||||||||||
| 29 |
QBE Insurance Group Ltd. |
Australia | A+ | Stable | 1,482.0 | 1,245.0 | 126.0 | -94.0 | 90.7 | 109.1 | 8,882.0 | 8,492.0 | 9.3 | -7.8 | ||||||||||||||||||
| 30 |
SiriusPoint Ltd. |
Bermuda | A- | Watch negative | 1,417.3 | 2,053.1 | -268.9 | -188.7 | 120.0 | 111.8 | 2,642.4 | 2,436.8 | -19.6 | -7.7 | ||||||||||||||||||
| 31 |
Aspen Insurance Holdings Ltd. |
Bermuda | A- | Stable | 1,199.0 | 1,302.1 | 60.6 | -23.2 | 94.6 | 101.8 | 2,770.6 | 2,997.6 | 5.4 | -1.7 | ||||||||||||||||||
| 32 |
Markel Corporation |
U.S. | A | Stable | 1,126.2 | 960.1 | -55.2 | -34.0 | 105.3 | 103.7 | N.A. | N.A. | -5.3 | -3.7 | ||||||||||||||||||
| 33 |
Deutsche Rückversicherung AG |
Germany | A+ | Stable | 1,056.6 | 949.0 | 25.5 | 75.6 | 101.9 | 94.9 | 1,226.5 | 1,264.2 | 2.3 | 7.6 | ||||||||||||||||||
| 34 |
PICC Reinsurance Co. Ltd. |
China | A- | Stable | 981.8 | 710.4 | -36.6 | 18.4 | 104.5 | 104.6 | 634.5 | 597.2 | -3.7 | 2.3 | ||||||||||||||||||
| 35 |
Chubb Tempest Reinsurance Ltd. |
Bermuda | AA | Stable | 956.8 | 881.4 | 284.3 | 388.8 | 108.7 | 92.5 | N.A. | N.A. | 22.5 | 32.1 | ||||||||||||||||||
| 36 |
W. R. Berkley Corporation |
U.S. | A+ | Stable | 827.1 | N.A. | N.A. | N.A. | N.A. | N.A. | 6,653.0 | N.A. | N.A. | N.A. | ||||||||||||||||||
| 37 |
Convex Group Limited |
Bermuda | A- | Stable | 808.0 | 462.2 | -200.0 | -160.7 | 131.8 | 171.3 | 2,400.3 | 2,478.3 | -29.5 | -55.7 | ||||||||||||||||||
| 38 |
Qatar Reinsurance Co. Ltd. |
Bermuda | A | Negative | 767.6 | 914.3 | -202.7 | -174.8 | 124.8 | 115.5 | 782.7 | 779.7 | -22.9 | -14.8 | ||||||||||||||||||
| 39 |
Central Reinsurance Corp. |
Taiwan | A | Stable | 701.0 | 607.9 | 66.1 | 44.1 | 92.7 | 97.2 | 724.8 | 602.3 | 9.4 | 7.3 | ||||||||||||||||||
| 40 |
African Reinsurance Corp. |
Nigeria | A- | Stable | 666.4 | 651.1 | 40.9 | 14.0 | 93.5 | 95.8 | 1,000.7 | 1,017.1 | 5.7 | 2.0 | ||||||||||||||||||
| Totals: | 292,423.3 | 273,476.4 | 13,985.3 | -117.0 | 98.1 | 105.0 | 682,951.2 | 598,836.3 | 4.0 | -0.6 | ||||||||||||||||||||||
| Rating = Financial strength ratings of core operating entities of the groups as of Aug. 23, 2022. N.A.--Not available. N.M.--Not meaningful. N.R.--Not rated. Note: Exchange rates may slightly differ from previous years’ GRH data due to alignment of foreign exchange rates with other S&P Global surveys. (1) Munich Reinsurance Co.: Total adjusted shareholders’ funds for the group includes ERGO. (2) Swiss Reinsurance Co.: Figures represent the group as a whole including primary business. (3) Lloyd's: Investment income/other income not available at reinsurance class of business level. Adjusted shareholders’ funds are members’ funds for the market as a whole. (4) Allianz SE: Data refer to reinsurance business written by Allianz SE. Figures are based on IFRS results (only external business). Adjusted shareholders’ funds not available at external business level. | ||||||||||||||||||||||||||||||||
Table 2
| Global Reinsurers By Country | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | Rating | Outlook | Net reinsurance premiums written | Pretax operating income (mil. $) | Combined ratio (%) | Total adjusted shareholders' funds (mil. $) | Return on revenue (%) | |||||||||||||||||||||||
| 2021 | 2020 | Change % | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | Change % | 2021 | 2020 | |||||||||||||||||||
| Australia | ||||||||||||||||||||||||||||||
| QBE Insurance Group Ltd.* | A+ | Stable | 1,482.0 | 1,245.0 | 19.0 | 126.0 | -94.0 | 90.7 | 109.1 | 8,882.0 | 8,492.0 | 4.6 | 9.3 | -7.8 | ||||||||||||||||
| Munich Re Co. of Australasia Ltd. | AA- | Stable | 454.1 | 477.7 | -4.9 | 243.8 | -91.7 | N.A. | N.A. | 1,021.2 | 888.1 | 15.0 | 59.4 | -14.9 | ||||||||||||||||
| Hannover Life Re of Australasia Ltd. | AA- | Stable | 407.4 | 417.3 | -2.4 | 118.7 | -64.0 | N.A. | N.A. | 398.7 | 417.9 | -4.6 | 25.3 | -13.5 | ||||||||||||||||
| General Reinsurance Life Australia Ltd. | AA+ | Stable | 224.9 | 220.8 | 1.9 | 8.0 | -8.8 | N.A. | N.A. | 0.0 | 0.0 | N.A. | 3.5 | -3.8 | ||||||||||||||||
| SCOR Global Life Australia | AA- | Negative | 99.5 | 55.1 | 80.5 | 5.1 | -4.2 | N.A. | N.A. | 88.0 | 99.2 | -11.3 | 4.3 | -6.1 | ||||||||||||||||
| General Reinsurance Australia Ltd. | AA+ | Stable | 71.0 | 92.9 | -23.5 | 35.2 | 8.5 | 52.5 | 96.6 | 275.3 | 265.1 | 3.8 | 46.3 | 8.6 | ||||||||||||||||
| Swiss Re Life & Health Australia Ltd. | AA- | Negative | N.A. | 793.2 | N.A. | -4.4 | -18.5 | N.A. | N.A. | 1,019.3 | 1,097.2 | -7.1 | -0.5 | -2.1 | ||||||||||||||||
| Total: | 2,738.9 | 3,301.9 | -17.1 | 532.4 | -272.8 | 88.6 | 108.2 | 11,684.5 | 11,259.5 | 3.8 | 15.2 | -7.6 | ||||||||||||||||||
| Bahrain | ||||||||||||||||||||||||||||||
| Hannover Re Takaful | A+ | Stable | 163.8 | 199.8 | -18.0 | 12.6 | 21.2 | 77.1 | 93.3 | 217.6 | 204.6 | 6.3 | 7.2 | 10.9 | ||||||||||||||||
| Total: | 163.8 | 199.8 | -18.0 | 12.6 | 21.2 | 77.1 | 93.3 | 217.6 | 204.6 | 6.3 | 7.2 | 10.9 | ||||||||||||||||||
| Barbados | ||||||||||||||||||||||||||||||
| Wentworth | NR | 131.1 | 129.9 | 0.9 | 25.6 | 3.4 | 96.3 | 98.0 | 342.5 | 293.1 | 16.9 | 17.5 | 2.7 | |||||||||||||||||
| Total: | 131.1 | 129.9 | 0.9 | 25.6 | 3.4 | 96.3 | 98.0 | 342.5 | 293.1 | 16.9 | 17.5 | 2.7 | ||||||||||||||||||
| Bermuda | ||||||||||||||||||||||||||||||
| Sompo International Holdings Ltd.* | A+ | Stable | 3,415.6 | 3,072.1 | 11.2 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | ||||||||||||||||
| Partner Reinsurance Company Ltd | A+ | Stable | 3,194.6 | 2,777.0 | 15.0 | N.A. | N.A. | 90.6 | 112.1 | 4,736.7 | 4,127.0 | 14.8 | N.A. | N.A. | ||||||||||||||||
| Arch Reinsurance Ltd. | A+ | Stable | 2,311.1 | 1,677.6 | 37.8 | 900.8 | 363.0 | 93.9 | 96.7 | 6,875.4 | 7,294.8 | -5.7 | 41.6 | 21.8 | ||||||||||||||||
| Renaissance Reinsurance Ltd. | A+ | Stable | 2,099.8 | 1,513.9 | 38.7 | N.A. | N.A. | 93.8 | 102.5 | 2,250.0 | 2,250.0 | 0.0 | N.A. | N.A. | ||||||||||||||||
| Everest Reinsurance (Bermuda) Ltd. | A+ | Stable | 2,088.1 | 1,437.4 | 45.3 | 787.5 | 176.7 | 75.8 | 105.4 | 3,184.1 | 2,930.3 | 8.7 | 34.5 | 10.7 | ||||||||||||||||
| Ascot Group Limited* | A- | Stable | 1,981.6 | 1,299.8 | 52.5 | -24.4 | 155.3 | 97.4 | 92.9 | 1,712.5 | 1,747.2 | -2.0 | -1.5 | 13.7 | ||||||||||||||||
| Hannover Re Bermuda Ltd. | AA- | Stable | 1,172.0 | 632.7 | 85.2 | 511.4 | 255.3 | 69.1 | 70.1 | 1,967.0 | 2,042.0 | -3.7 | 43.2 | 38.2 | ||||||||||||||||
| Allied World Assurance Company Holdings, GmbH* | A | Stable | 1,106.1 | 873.4 | 26.6 | 19.1 | 69.0 | 101.1 | 95.6 | 4,792.3 | 4,385.8 | 9.3 | 1.8 | 8.5 | ||||||||||||||||
| Chubb Tempest Reinsurance Ltd. | AA | Stable | 873.1 | 730.9 | 19.5 | 259.8 | 355.0 | 108.7 | 92.5 | N.A. | N.A. | N.A. | 23.0 | 35.4 | ||||||||||||||||
| Qatar Reinsurance Co. Ltd. | A | Negative | 767.6 | 914.3 | -16.0 | -202.7 | -174.8 | 124.8 | 115.5 | 782.7 | 779.7 | 0.4 | -22.9 | -14.8 | ||||||||||||||||
| DaVinci Reinsurance Ltd. | A+ | Stable | 682.2 | 519.0 | 31.4 | N.A. | N.A. | 117.6 | 90.8 | 2,251.4 | 2,135.0 | 5.5 | N.A. | N.A. | ||||||||||||||||
| Fidelis Insurance Bermuda Ltd. | A- | Stable | 672.4 | 591.8 | 13.6 | 24.7 | 143.5 | N.A. | N.A. | 1,778.4 | 1,837.9 | -3.2 | 3.3 | 26.6 | ||||||||||||||||
| SiriusPoint Bermuda Insurance Company Ltd. | A- | Watch Neg | 424.3 | N.A. | N.A. | -104.6 | N.A. | 121.5 | N.A. | 3,544.5 | N.A. | N.A. | -21.4 | N.A. | ||||||||||||||||
| International General Insurance Co. Ltd. | A- | Stable | 382.6 | 338.4 | 13.1 | 77.2 | 54.0 | 77.6 | 81.0 | 408.1 | 391.0 | 4.4 | 21.9 | 18.4 | ||||||||||||||||
| Aspen Bermuda Ltd. | A- | Stable | 372.2 | 241.5 | 54.1 | -76.7 | 31.6 | 126.7 | 85.0 | 1,131.0 | 1,334.0 | -15.2 | -26.7 | 11.4 | ||||||||||||||||
| Convex Reinsurance Limited | A- | Stable | 363.3 | 176.6 | 105.7 | -80.2 | -115.6 | 128.1 | 224.8 | 1,938.7 | 2,081.5 | -6.9 | -25.0 | -105.6 | ||||||||||||||||
| Lancashire Insurance Co. Ltd. | A- | Stable | 290.4 | 126.2 | 130.2 | -14.6 | 21.2 | 114.9 | 81.8 | 1,431.1 | 1,285.7 | 11.3 | -3.4 | 7.6 | ||||||||||||||||
| Markel Bermuda Ltd. | A | Stable | 156.1 | 143.0 | 9.1 | -44.5 | 102.4 | 125.7 | 36.4 | N.A. | N.A. | N.A. | -25.7 | 63.6 | ||||||||||||||||
| Hiscox Insurance Co. (Bermuda) Ltd. | A | Stable | 150.6 | 100.0 | 50.6 | 29.3 | -40.8 | 50.4 | 137.9 | 1,294.2 | 1,268.1 | 2.1 | 18.1 | -23.2 | ||||||||||||||||
| Vermeer Reinsurance Ltd | NR | 96.8 | 87.8 | 10.2 | N.A. | N.A. | 59.2 | 36.7 | 1,197.8 | 1,109.6 | 7.9 | N.A. | N.A. | |||||||||||||||||
| Chubb Tempest Life Reinsurance, Ltd. | AA | Stable | 83.7 | 150.5 | -44.4 | 24.5 | 33.8 | N.A. | N.A. | N.A. | N.A. | N.A. | 18.0 | 16.3 | ||||||||||||||||
| AXIS Specialty Limited | A+ | Stable | 61.7 | 119.9 | -48.6 | N.A. | N.A. | 31.6 | 83.2 | 3,130.0 | 3,190.2 | -1.9 | N.A. | N.A. | ||||||||||||||||
| Top Layer Reinsurance Ltd. | AA | Stable | 21.6 | 22.4 | -3.6 | N.A. | N.A. | 23.7 | 24.3 | 51.8 | 53.9 | -3.9 | N.A. | N.A. | ||||||||||||||||
| Total: | 22,767.4 | 17,546.2 | 29.8 | 2,086.6 | 1,429.4 | 94.7 | 100.5 | 44,457.6 | 40,243.6 | 10.5 | 15.6 | 14.1 | ||||||||||||||||||
| Bosnia And Herzegovina | ||||||||||||||||||||||||||||||
| Bosna Re | NR | 15.8 | 16.0 | -1.5 | 1.6 | 1.5 | 81.4 | 84.2 | 19.0 | 19.8 | -3.9 | 10.2 | 9.4 | |||||||||||||||||
| Total: | 15.8 | 16.0 | -1.5 | 1.6 | 1.5 | 81.4 | 84.2 | 19.0 | 19.8 | -3.9 | 10.2 | 9.4 | ||||||||||||||||||
| Canada | ||||||||||||||||||||||||||||||
| SCOR Canada Reinsurance Co. | AA- | Negative | 235.6 | 195.4 | 20.6 | 42.4 | 29.9 | 84.1 | 87.5 | 135.1 | 124.8 | 8.2 | 18.2 | 15.7 | ||||||||||||||||
| Munich Reinsurance Co. of Canada | AA- | Stable | 198.1 | 178.2 | 11.2 | 31.5 | 22.6 | 90.2 | 96.1 | 203.0 | 187.0 | 8.6 | 14.7 | 12.1 | ||||||||||||||||
| Temple Insurance Company | A+ | Stable | 130.5 | 134.7 | -3.1 | 19.1 | -18.4 | 92.8 | 122.9 | 205.0 | 199.1 | 3.0 | 11.9 | -11.8 | ||||||||||||||||
| Total: | 564.1 | 508.3 | 11.0 | 93.1 | 34.1 | 88.5 | 100.6 | 543.1 | 510.9 | 6.3 | 15.3 | 6.4 | ||||||||||||||||||
| China | ||||||||||||||||||||||||||||||
| China Property & Casualty Re Co. Ltd. | A | Stable | 5,810.5 | 4,981.1 | 16.6 | 399.9 | 232.9 | 99.6 | 102.2 | 3,571.0 | 3,350.2 | 6.6 | 6.7 | 4.3 | ||||||||||||||||
| PICC Reinsurance Co. Ltd. | A- | Stable | 981.8 | 710.4 | 38.2 | -36.6 | 18.4 | 104.5 | 104.6 | 634.5 | 597.2 | 6.3 | -3.7 | 2.3 | ||||||||||||||||
| Total: | 6,792.3 | 5,691.6 | 19.3 | 363.3 | 251.2 | 100.3 | 102.5 | 4,205.5 | 3,947.4 | 6.5 | 5.2 | 4.0 | ||||||||||||||||||
| Czech Rep. | ||||||||||||||||||||||||||||||
| VIG RE | A+ | Stable | 466.8 | 445.8 | 4.7 | 19.9 | 15.5 | 96.1 | 96.9 | 204.5 | 221.3 | -7.6 | 4.2 | 3.4 | ||||||||||||||||
| Total: | 466.8 | 445.8 | 4.7 | 19.9 | 15.5 | 96.1 | 96.9 | 204.5 | 221.3 | -7.6 | 4.2 | 3.4 | ||||||||||||||||||
| France | ||||||||||||||||||||||||||||||
| SCOR SE | AA- | Negative | 6,327.4 | 5,748.8 | 10.1 | 5.7 | 376.6 | 111.1 | 108.5 | 4,234.9 | 5,039.3 | -16.0 | 0.1 | 5.8 | ||||||||||||||||
| Caisse Centrale de Reassurance | AA | Stable | 1,072.6 | 1,349.1 | -20.5 | 270.6 | -99.0 | 50.5 | 113.4 | 6,225.1 | 5,975.4 | 22.8 | 20.8 | -7.0 | ||||||||||||||||
| CCR Re | A | Stable | 899.5 | 750.3 | 19.9 | 63.3 | 6.7 | 95.4 | 103.2 | 975.2 | 1,009.5 | 46.5 | 7.3 | 0.9 | ||||||||||||||||
| SCOR Europe | AA- | Negative | 10.6 | 7.3 | 46.8 | 0.4 | 1.4 | 66.9 | 65.5 | 77.1 | 27.6 | 179.7 | 9.3 | 30.7 | ||||||||||||||||
| Total: | 8,310.2 | 7,855.5 | 5.8 | 340.0 | 285.7 | 100.3 | 108.8 | 11,512.3 | 12,051.7 | 8.9 | 3.9 | 3.3 | ||||||||||||||||||
| Germany | ||||||||||||||||||||||||||||||
| Munich Reinsurance Co. | AA- | Stable | 23,911.9 | 25,697.4 | -6.9 | 3,274.0 | 1,889.5 | 97.1 | 103.6 | 45,622.2 | 43,251.5 | 5.5 | 12.0 | 6.5 | ||||||||||||||||
| Hannover Rückversicherung SE | AA- | Stable | 17,217.2 | 16,055.3 | 7.2 | 1,213.3 | 1,168.0 | 100.1 | 102.3 | 1,574.6 | 15,722.1 | -90.0 | 6.6 | 6.6 | ||||||||||||||||
| General Reinsurance AG | AA+ | Stable | 4,485.8 | 4,621.4 | -2.9 | 37.0 | 81.2 | 106.0 | 103.3 | 5,255.9 | 5,143.3 | 2.2 | 0.8 | 1.8 | ||||||||||||||||
| R+V Versicherung AG | A+ | Stable | 3,916.8 | 4,295.3 | -8.8 | 334.7 | 60.0 | 97.3 | 105.7 | 7,029.7 | 7,575.0 | -7.2 | 8.0 | 1.3 | ||||||||||||||||
| E+S Rückversicherung AG | AA- | Stable | 2,791.5 | 2,884.8 | -3.2 | 112.6 | 159.5 | 102.4 | 96.9 | 2,972.1 | 3,119.0 | -4.7 | 3.8 | 5.3 | ||||||||||||||||
| Allianz SE | AA | Stable | 1,509.9 | 1,486.0 | 1.6 | 97.5 | 30.3 | 91.9 | 97.8 | N.A. | N.A. | N.A. | 6.6 | 2.2 | ||||||||||||||||
| Deutsche Rückversicherung AG | A+ | Stable | 725.4 | 668.4 | 8.5 | 24.8 | 68.8 | 100.7 | 88.6 | 1,025.1 | 1,048.3 | -2.2 | 3.3 | 10.0 | ||||||||||||||||
| DEVK Re | A+ | Stable | 658.5 | 638.4 | 3.1 | 102.0 | 93.0 | 101.4 | 92.5 | 1,481.6 | 1,564.7 | -5.3 | 11.0 | 10.7 | ||||||||||||||||
| Total: | 55,217.1 | 56,347.1 | -2.0 | 5,195.9 | 3,550.3 | 99.0 | 102.6 | 64,961.3 | 77,423.9 | -16.1 | 8.6 | 5.7 | ||||||||||||||||||
| Hong Kong | ||||||||||||||||||||||||||||||
| Taiping Reinsurance Co. Ltd. | A | Negative | 2,483.2 | 2,173.1 | 14.3 | -127.1 | -92.3 | 103.9 | 103.9 | 1,508.0 | 1,557.1 | -3.2 | -5.9 | -5.1 | ||||||||||||||||
| Peak Reinsurance Co. Ltd. | NR | 1,793.9 | 1,517.3 | 18.2 | 73.5 | 93.7 | 98.6 | 93.9 | 1,218.9 | 1,236.3 | -1.4 | 4.1 | 6.6 | |||||||||||||||||
| SCOR Reinsurance Co. (Asia) Ltd. | AA- | Negative | 73.7 | 106.7 | -30.9 | 13.2 | -6.2 | 46.9 | 96.9 | 207.3 | 222.1 | -6.6 | 17.0 | -2.8 | ||||||||||||||||
| Total: | 4,350.9 | 3,797.1 | 14.6 | -40.4 | -4.8 | 100.4 | 99.4 | 2,934.2 | 3,015.6 | -2.7 | -1.0 | -0.1 | ||||||||||||||||||
| Iran | ||||||||||||||||||||||||||||||
| Iranian Reinsurance Co. | NR | 65.2 | 43.2 | 50.9 | 146.6 | 76.9 | 97.1 | 87.6 | 548.4 | 358.8 | 52.8 | 68.6 | 68.3 | |||||||||||||||||
| Total: | 65.2 | 43.2 | 50.9 | 146.6 | 76.9 | 97.1 | 87.6 | 548.4 | 358.8 | 52.8 | 68.6 | 68.3 | ||||||||||||||||||
| Ireland | ||||||||||||||||||||||||||||||
| Hannover Reinsurance (Ireland) DAC | AA- | Stable | 5,146.9 | 4,713.6 | 9.2 | 21.6 | 8.1 | 81.2 | 101.4 | 690.8 | 775.7 | -11.0 | 0.4 | 0.2 | ||||||||||||||||
| SCOR Life Ireland DAC. | AA- | Negative | 2,416.9 | 3,283.0 | -26.4 | 864.1 | 172.2 | N.A. | N.A. | 3,462.8 | 2,833.9 | 22.2 | 31.6 | 5.1 | ||||||||||||||||
| SCOR Global Life Reinsurance Ireland Ltd. | AA- | Negative | 1,328.9 | 1,544.3 | -13.9 | 96.4 | 1.7 | N.A. | N.A. | 1,776.1 | 1,706.4 | 4.1 | 6.9 | 0.1 | ||||||||||||||||
| Partner Reinsurance Europe SE | A+ | Stable | 1,155.2 | 1,081.3 | 6.8 | N.A. | N.A. | 67.3 | 89.7 | 2,986.2 | 3,050.8 | -2.1 | N.A. | N.A. | ||||||||||||||||
| AXIS Re SE | A+ | Stable | 714.8 | 761.4 | -6.1 | N.A. | N.A. | 108.1 | 103.3 | 908.3 | 921.4 | -1.4 | N.A. | N.A. | ||||||||||||||||
| Arch Re Europe | A+ | Stable | 89.6 | 76.7 | 16.8 | 0.0 | N.A. | 76.2 | 71.1 | 6,625.9 | N.A. | N.A. | 0.0 | N.A. | ||||||||||||||||
| Fidelis Insurance Ireland DAC | A- | Stable | 3.5 | 0.6 | 438.2 | 5.4 | -3.8 | N.A. | N.A. | 104.8 | 101.5 | 3.3 | 95.9 | -333.2 | ||||||||||||||||
| Total: | 10,855.8 | 11,460.9 | -5.3 | 987.5 | 178.1 | 81.9 | 99.2 | 16,554.8 | 9,389.7 | 76.3 | 10.5 | 1.9 | ||||||||||||||||||
| Italy | ||||||||||||||||||||||||||||||
| Società Cattolica | A | Stable | 18.6 | 23.3 | -20.2 | -1.7 | -0.3 | 107.2 | 96.1 | 3,059.2 | 2,913.7 | 5.0 | -1.0 | -0.1 | ||||||||||||||||
| TUA Assicurazioni | NR | 0.0 | 0.0 | -664.6 | 0.1 | 0.1 | N.M. | N.M. | 30.8 | 20.7 | 48.7 | 0.6 | 0.7 | |||||||||||||||||
| BCC Assicurazioni | NR | 0.0 | 0.1 | -104.6 | 0.0 | 0.0 | 239.9 | 43.1 | 7.6 | 7.1 | 8.0 | -2.4 | 4.7 | |||||||||||||||||
| Total: | 18.6 | 23.3 | -20.4 | -1.6 | -0.1 | 107.2 | 96.0 | 3,097.7 | 2,941.5 | 5.3 | -0.9 | -0.1 | ||||||||||||||||||
| Japan | ||||||||||||||||||||||||||||||
| Tokio Marine & Nichido Fire Insurance Co. Ltd. | A+ | Stable | 2,621.7 | 2,573.1 | 1.9 | 2,888.3 | 1,423.0 | N.A. | N.A. | 26,638.3 | 26,568.9 | 0.3 | 136.2 | 77.9 | ||||||||||||||||
| Toa Reinsurance Co. | A+ | Negative | 1,875.4 | 1,898.5 | -1.2 | -12.2 | 48.4 | 104.3 | 101.7 | 2,394.3 | 2,299.5 | 4.1 | -0.6 | 2.5 | ||||||||||||||||
| Aioi Nissay Dowa Insurance Co. Ltd. | A+ | Stable | 1,803.7 | 1,792.7 | 0.6 | N.A. | N.A. | N.A. | N.A. | 10,771.1 | 10,856.8 | -0.8 | N.A. | N.A. | ||||||||||||||||
| Mitsui Sumitomo Insurance Co. Ltd. | A+ | Stable | 1,561.2 | 1,541.3 | 1.3 | N.A. | N.A. | N.A. | N.A. | 24,778.9 | 22,847.8 | 8.5 | N.A. | N.A. | ||||||||||||||||
| Sompo Japan Nipponkoa Insurance Inc. | A+ | Stable | 1,342.1 | 1,457.8 | -7.9 | N.A. | N.A. | N.A. | N.A. | 17,598.3 | 17,159.8 | 2.6 | N.A. | N.A. | ||||||||||||||||
| Total: | 9,204.1 | 9,263.4 | -0.6 | 2,876.2 | 1,471.5 | 104.3 | 101.7 | 82,180.9 | 79,732.9 | 3.1 | 70.1 | 39.4 | ||||||||||||||||||
| Kazakhstan | ||||||||||||||||||||||||||||||
| Eurasia Insurance Co. | BBB | Stable | 121.9 | 103.5 | 17.8 | 14.5 | 10.3 | 86.8 | 89.1 | 498.5 | 456.7 | 9.2 | 8.5 | 6.4 | ||||||||||||||||
| Total: | 121.9 | 103.5 | 17.8 | 14.5 | 10.3 | 86.8 | 89.1 | 498.5 | 456.7 | 9.2 | 8.5 | 6.4 | ||||||||||||||||||
| Kuwait | ||||||||||||||||||||||||||||||
| Kuwait Reinsurance Co. K.S.C.P. | NR | 219.0 | 167.3 | 30.9 | 21.0 | 12.9 | 88.3 | 93.6 | 208.4 | 186.8 | 11.6 | 9.6 | 7.3 | |||||||||||||||||
| Total: | 219.0 | 167.3 | 30.9 | 21.0 | 12.9 | 88.3 | 93.6 | 208.4 | 186.8 | 11.6 | 9.6 | 7.3 | ||||||||||||||||||
| Luxembourg | ||||||||||||||||||||||||||||||
| Swiss Re Europe S.A. | AA- | Negative | 8,418.3 | 8,636.5 | -2.5 | 1,011.4 | 395.0 | 97.7 | 99.2 | 1,990.8 | 2,055.0 | -3.1 | 29.1 | 10.5 | ||||||||||||||||
| TransRe Europe S.A. Luxembourg | A+ | Watch Pos | 157.6 | 158.5 | -0.6 | -109.8 | -17.7 | 177.9 | 113.2 | 375.7 | 432.9 | -13.2 | -66.8 | -10.7 | ||||||||||||||||
| Convex Europe S.A. | A- | Stable | -0.1 | N.A. | N.A. | 0.2 | N.A. | 620.7 | N.A. | 83.7 | N.A. | N.A. | -539.3 | N.A. | ||||||||||||||||
| CattRe S.A. | NR | N.M. | N.M. | N.M. | 2.9 | -2.1 | 88.0 | 26.7 | 4.1 | 4.3 | -3.5 | -6.6 | 6.0 | |||||||||||||||||
| Total: | 8,575.8 | 8,795.0 | -2.5 | 904.7 | 375.2 | 101.6 | 100.5 | 2,454.3 | 2,492.2 | -1.5 | 25.1 | 9.7 | ||||||||||||||||||
| Nigeria | ||||||||||||||||||||||||||||||
| African Reinsurance Corp. | A- | Stable | 535.1 | 529.1 | 1.1 | 43.8 | 13.7 | 92.1 | 94.3 | 939.0 | 955.4 | -1.7 | 7.5 | 2.4 | ||||||||||||||||
| Total: | 535.1 | 529.1 | 1.1 | 43.8 | 13.7 | 92.1 | 94.3 | 939.0 | 955.4 | -1.7 | 7.5 | 2.4 | ||||||||||||||||||
| Poland | ||||||||||||||||||||||||||||||
| Polskie Towarzystwo Reasekuracji S.A. | NR | 131.7 | 111.8 | 17.9 | 2.0 | 3.1 | 98.3 | 97.5 | 71.2 | 81.8 | -13.0 | 1.5 | 2.8 | |||||||||||||||||
| Total: | 131.7 | 111.8 | 17.9 | 2.0 | 3.1 | 98.3 | 97.5 | 71.2 | 81.8 | -13.0 | 1.5 | 2.8 | ||||||||||||||||||
| Saudi Arabia | ||||||||||||||||||||||||||||||
| Saudi Re for Cooperative Reinsurance Co. | NR | 255.4 | 206.0 | 24.0 | 14.9 | 17.1 | 88.5 | 89.1 | 256.8 | 246.1 | 4.3 | 0.1 | 9.4 | |||||||||||||||||
| Total: | 255.4 | 206.0 | 24.0 | 14.9 | 17.1 | 88.5 | 89.1 | 256.8 | 246.1 | 4.3 | 0.1 | 9.4 | ||||||||||||||||||
| Singapore | ||||||||||||||||||||||||||||||
| SCOR Reinsurance Asia-Pacific | AA- | Negative | 955.0 | 749.7 | 27.4 | -1.9 | 77.1 | 107.2 | 118.4 | 199.2 | 158.1 | 26.0 | -0.2 | 10.5 | ||||||||||||||||
| Singapore Re | NR | 40.0 | N.A. | N.A. | 12.3 | N.A. | 61.5 | N.A. | 204.3 | N.A. | N.A. | 41.8 | N.A. | |||||||||||||||||
| Total: | 995.0 | 749.7 | 32.7 | 10.4 | 77.1 | 105.9 | 118.4 | 403.5 | 158.1 | 155.3 | 1.1 | 10.5 | ||||||||||||||||||
| Slovenia | ||||||||||||||||||||||||||||||
| Triglav Re, Reinsurance Co. Ltd. | A | Stable | 134.8 | 130.2 | 3.5 | 14.0 | 6.4 | 90.5 | 94.9 | 108.7 | 106.5 | 2.0 | 10.3 | 5.3 | ||||||||||||||||
| Sava Reinsurance Company d.d. | A | Stable | 117.5 | 123.8 | -5.1 | 61.0 | -16.6 | 103.2 | 105.6 | 422.1 | 408.6 | 3.3 | 24.4 | -8.7 | ||||||||||||||||
| Total: | 252.3 | 254.0 | -0.7 | 74.9 | -10.2 | 97.9 | 101.5 | 530.8 | 515.1 | 3.0 | 19.4 | -3.3 | ||||||||||||||||||
| South Africa | ||||||||||||||||||||||||||||||
| Munich Reinsurance Co. of Africa Ltd. | AA- | Stable | 351.6 | 348.6 | 0.9 | -114.9 | 35.0 | 98.3 | 101.0 | 103.5 | 234.0 | -55.8 | -21.4 | 6.0 | ||||||||||||||||
| Swiss Re Africa Ltd. | AA- | Negative | 239.3 | 296.9 | -19.4 | -29.4 | -49.2 | 102.8 | 134.3 | 13.6 | 33.2 | -59.0 | -12.2 | -15.7 | ||||||||||||||||
| Hannover Reinsurance Africa Ltd. | AA- | Stable | 174.1 | 94.4 | 84.5 | -46.2 | 12.6 | 92.9 | N.A. | 104.1 | 68.2 | 52.6 | -24.9 | 11.8 | ||||||||||||||||
| General Reinsurance Africa Ltd. | AA+ | Stable | 146.7 | 205.4 | -28.6 | -149.6 | -9.3 | N.M. | N.M. | 81.7 | 146.0 | -44.1 | -79.8 | -3.8 | ||||||||||||||||
| African Re Corp. (South Africa) Ltd. | A- | Stable | 128.3 | 139.8 | -8.3 | -2.9 | 0.4 | 99.7 | 99.1 | 61.6 | 61.3 | 0.4 | -2.1 | 0.2 | ||||||||||||||||
| GIC Re South Africa Ltd. | BB+ | Stable | 27.3 | 21.1 | 29.4 | 7.3 | 8.9 | 76.5 | 146.8 | 105.5 | 91.8 | 14.9 | 14.9 | 17.8 | ||||||||||||||||
| Total: | 1,067.1 | 1,106.1 | -3.5 | -335.8 | -1.7 | 84.4 | 90.5 | 470.0 | 634.5 | -25.9 | -25.1 | -0.1 | ||||||||||||||||||
| South Korea | ||||||||||||||||||||||||||||||
| Korean Reinsurance Co. | A | Stable | 5,039.2 | 5,392.5 | -6.6 | 184.8 | 201.6 | 101.7 | 99.7 | 2,149.1 | 2,265.4 | -5.1 | 3.5 | 3.7 | ||||||||||||||||
| Total: | 5,039.2 | 5,392.5 | -6.6 | 184.8 | 201.6 | 101.7 | 99.7 | 2,149.1 | 2,265.4 | -5.1 | 3.5 | 3.7 | ||||||||||||||||||
| Spain | ||||||||||||||||||||||||||||||
| Mapfre Re, Compania de Reaseguros, S.A. | A+ | Stable | 4,016.1 | 3,785.3 | 6.1 | 203.5 | 14.1 | 96.8 | 100.9 | 1,942.4 | 2,050.2 | -5.3 | 5.2 | 0.4 | ||||||||||||||||
| Nacional de Reaseguros S.A. | A | Stable | 586.3 | 583.8 | 0.4 | 29.9 | 37.9 | 96.7 | 97.6 | 519.1 | 533.6 | -2.7 | 5.0 | 6.4 | ||||||||||||||||
| Total: | 4,602.4 | 4,369.0 | 5.3 | 233.5 | 52.0 | 96.8 | 100.4 | 2,461.5 | 2,583.7 | -4.7 | 5.2 | 1.2 | ||||||||||||||||||
| Sweden | ||||||||||||||||||||||||||||||
| SiriusPoint International Insurance Corporation | A- | Watch Neg | 850.9 | N.A. | N.A. | -157.6 | N.A. | 119.5 | N.A. | 1,391.0 | N.A. | N.A. | -19.2 | N.A. | ||||||||||||||||
| 850.9 | 0.0 | N.A. | -157.6 | 0.0 | 119.5 | 0.0 | 1,391.0 | 0.0 | N.A. | -19.2 | 0.0 | |||||||||||||||||||
| Switzerland | ||||||||||||||||||||||||||||||
| Swiss Reinsurance Co. Ltd. | AA- | Negative | 10,757.7 | 9,176.9 | 17.2 | -1,087.8 | -807.3 | 104.6 | 131.0 | 19,554.4 | 16,741.8 | 16.8 | -9.3 | -6.3 | ||||||||||||||||
| Swiss Re Asia Ltd | AA- | Negative | 5,171.2 | 4,172.6 | 23.9 | 481.9 | -462.7 | N.A. | N.A. | N.A. | N.A. | N.A. | 9.2 | -9.8 | ||||||||||||||||
| New Reinsurance Ltd. | AA- | Stable | 2,278.4 | 6,141.8 | -62.9 | -296.8 | -261.4 | 99.1 | 91.0 | 1,887.2 | 1,811.7 | 4.2 | -11.7 | -4.1 | ||||||||||||||||
| MS Amlin AG | A | Stable | 1,728.4 | 1,506.4 | 14.7 | -361.2 | -114.1 | 125.4 | 106.8 | N.A. | N.A. | N.A. | -24.1 | -7.1 | ||||||||||||||||
| SCOR Switzerland AG | AA- | Negative | 1,308.2 | 806.6 | 62.2 | 113.3 | 335.7 | 92.8 | 74.5 | 1,341.1 | 1,482.5 | -9.5 | 8.7 | 27.7 | ||||||||||||||||
| Renaissance Reinsurance Europe AG | A+ | Stable | 945.9 | 639.1 | 48.0 | N.A. | N.A. | 111.4 | 106.3 | 1,043.6 | 1,093.6 | -4.6 | N.A. | N.A. | ||||||||||||||||
| DR Swiss, Deutsche Rückversicherung Schweiz AG | A+ | Stable | 345.2 | 277.7 | 24.3 | -2.1 | -6.6 | 104.6 | 105.8 | 343.8 | 358.6 | -4.1 | -0.6 | -2.3 | ||||||||||||||||
| Echo Rückversicherungs-AG | A- | Stable | 231.4 | 222.2 | 4.1 | 5.5 | -7.3 | 94.9 | 95.8 | 180.7 | 153.9 | 17.5 | 2.6 | -4.3 | ||||||||||||||||
| The Toa 21st Century Reinsurance Company | A+ | Negative | 227.2 | 142.6 | 59.3 | -40.2 | -2.4 | 123.8 | 101.6 | 411.0 | 452.2 | -9.1 | -22.2 | -2.1 | ||||||||||||||||
| SIGNAL IDUNA Rückversicherungs AG | NR | 206.7 | 217.7 | -5.1 | 11.5 | 13.2 | 96.5 | 96.7 | 251.7 | 285.0 | -11.7 | 5.3 | 6.0 | |||||||||||||||||
| Korean Reinsurance Switzerland AG | A | Stable | 31.7 | 21.6 | 46.8 | -22.5 | -9.1 | 188.6 | 160.8 | 112.1 | 94.4 | 18.7 | -87.0 | -64.8 | ||||||||||||||||
| Total: | 23,231.8 | 23,325.2 | -0.4 | -1,198.5 | -1,322.0 | 105.2 | 113.2 | 25,125.7 | 22,473.6 | 11.8 | -5.1 | -4.8 | ||||||||||||||||||
| Taiwan | ||||||||||||||||||||||||||||||
| Central Reinsurance Corp. | A | Stable | 701.0 | 607.9 | 15.3 | 66.1 | 44.1 | 92.7 | 97.2 | 724.8 | 602.3 | 20.3 | 9.4 | 7.3 | ||||||||||||||||
| Total: | 701.0 | 607.9 | 15.3 | 66.1 | 44.1 | 92.7 | 97.2 | 724.8 | 602.3 | 20.3 | 9.4 | 7.3 | ||||||||||||||||||
| Turkey | ||||||||||||||||||||||||||||||
| Milli Reasurans T.A.S.§ | trA- | 161.8 | 212.8 | -24.0 | 16.6 | 8.4 | 150.9 | 127.6 | 225.6 | 355.0 | -36.5 | 9.8 | 3.5 | |||||||||||||||||
| Total: | 161.8 | 212.8 | -24.0 | 16.6 | 8.4 | 150.9 | 127.6 | 225.6 | 355.0 | -36.5 | 9.8 | 3.5 | ||||||||||||||||||
| U.K. | ||||||||||||||||||||||||||||||
| Lloyd's | A+ | Stable | 14,319.7 | 12,296.1 | 16.5 | 662.3 | -896.9 | 95.2 | 107.6 | 48,432.5 | 45,315.6 | 6.9 | 4.8 | -7.6 | ||||||||||||||||
| China Re International Holdings Ltd. | NR | 1,363.4 | 1,117.5 | 22.0 | 56.9 | -6.7 | 95.9 | 104.9 | 362.6 | 346.9 | 4.5 | 4.2 | -0.6 | |||||||||||||||||
| Aspen Insurance U.K. Ltd. | A- | Stable | 686.5 | 794.0 | -13.5 | 148.8 | -45.4 | 80.3 | 105.6 | 958.0 | 961.6 | -0.4 | 19.7 | -5.4 | ||||||||||||||||
| Faraday Syndicate 435 | NR | 580.5 | 530.0 | 9.5 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||
| Brit Limited | NR | 458.5 | 392.8 | 16.7 | 8.8 | 6.5 | 104.6 | 102.5 | 1,912.4 | 1,592.6 | 20.1 | 1.7 | 1.5 | |||||||||||||||||
| TransRe London Ltd. | A+ | Watch Pos | 264.1 | 241.3 | 9.4 | 9.9 | 7.2 | 105.2 | 108.5 | 562.9 | 587.9 | -4.3 | 3.6 | 2.6 | ||||||||||||||||
| Convex Insurance UK Limited | A- | Stable | 242.1 | 143.0 | 69.4 | -58.3 | -35.0 | 133.7 | 149.0 | 1,181.9 | 890.9 | 32.7 | -30.8 | -40.2 | ||||||||||||||||
| SCOR U.K. Co. Ltd. | AA- | Negative | 235.6 | 242.6 | -2.9 | 31.0 | 35.8 | 87.5 | 85.0 | 211.2 | 224.6 | -6.0 | 14.1 | 16.7 | ||||||||||||||||
| Fidelis Underwriting Ltd. | A- | Stable | 203.6 | 75.0 | 171.6 | 69.6 | 28.2 | N.A. | N.A. | 686.8 | 563.5 | 21.9 | 33.7 | 47.0 | ||||||||||||||||
| Aspen Managing Agency Limited | NR | 122.6 | 37.1 | 230.5 | 3.9 | -3.5 | 94.6 | 109.3 | N.A. | N.A. | N.A. | 5.4 | -8.5 | |||||||||||||||||
| Cathedral Capital Holdings Ltd | NR | 91.8 | 64.4 | 42.7 | 0.3 | -3.0 | 100.1 | 106.0 | 35.8 | 36.0 | -0.5 | 0.1 | -1.3 | |||||||||||||||||
| Syndicate 3000 | NR | 30.8 | N.A. | N.A. | 18.3 | N.A. | 58.8 | N.A. | N.A. | N.A. | N.A. | 41.2 | N.A. | |||||||||||||||||
| Markel International Insurance Co. Ltd. | A | Stable | 25.0 | 104.9 | -76.1 | -5.7 | -23.5 | 113.4 | 123.4 | N.A. | N.A. | N.A. | -13.4 | -23.4 | ||||||||||||||||
| Korean Re Underwriting Ltd. | NR | 18.5 | 12.5 | 47.8 | -2.5 | -0.7 | 113.6 | 113.1 | 19.4 | 19.6 | -1.0 | -18.0 | -7.8 | |||||||||||||||||
| Lancashire Insurance Co. (UK) Ltd. | A- | Stable | 2.8 | 1.8 | 58.2 | 1.5 | -3.8 | 0.4 | 31.1 | 177.1 | 179.3 | -1.2 | 3.8 | -13.3 | ||||||||||||||||
| Total: | 18,645.6 | 16,052.9 | 16.2 | 944.7 | -940.7 | 95.3 | 107.2 | 54,540.6 | 50,718.5 | 7.5 | 5.3 | -6.2 | ||||||||||||||||||
| U.S. | ||||||||||||||||||||||||||||||
| Reinsurance Group of America, Inc.* | AA- | Stable | 12,513.0 | 11,694.0 | 7.0 | 121.0 | 627.0 | N.A. | N.A. | 13,014.0 | 14,352.0 | -9.3 | 0.7 | 4.3 | ||||||||||||||||
| Swiss Reinsurance America Corp. | AA- | Negative | 8,293.4 | 7,759.3 | 6.9 | 83.0 | -102.0 | 104.6 | 44.6 | 4,106.6 | 3,973.4 | 3.4 | 2.3 | -3.3 | ||||||||||||||||
| Everest Reinsurance Co. | A+ | Stable | 7,736.5 | 6,664.5 | 16.1 | 384.9 | 341.5 | 102.0 | 99.7 | 5,789.5 | 5,276.0 | 9.7 | 5.0 | 5.1 | ||||||||||||||||
| Swiss Re Life & Health America Inc. | AA- | Negative | 7,176.9 | 5,557.9 | 29.1 | -402.0 | 53.1 | N.A. | N.A. | 1,556.0 | 1,467.8 | 6.0 | -10.6 | 2.5 | ||||||||||||||||
| National Indemnity Co. | AA+ | Stable | 5,995.7 | 6,292.5 | -4.7 | 10.5 | -2,802.6 | 234.9 | 136.5 | 246,863.2 | 203,034.3 | 21.6 | 0.0 | -6.9 | ||||||||||||||||
| Munich Reinsurance America, Inc. | AA- | Stable | 5,571.2 | 3,736.1 | 49.1 | -1,012.0 | -540.2 | 119.1 | 115.4 | 4,135.2 | 4,192.6 | -1.4 | -15.1 | -10.3 | ||||||||||||||||
| Transatlantic Reinsurance Co. | A+ | Watch Pos | 5,013.5 | 4,498.4 | 11.5 | 432.4 | 40.8 | 98.9 | 106.3 | 5,066.5 | 4,813.5 | 5.3 | 7.9 | 0.9 | ||||||||||||||||
| General Reinsurance Corporation | AA+ | Stable | 4,099.0 | 3,787.0 | 8.2 | 449.0 | 101.0 | 96.4 | 106.8 | 13,927.0 | 12,181.0 | 14.3 | 10.9 | 2.6 | ||||||||||||||||
| Odyssey Group Holdings, Inc.* | A | Stable | 2,708.9 | 2,122.6 | 27.6 | 136.1 | 203.4 | 100.0 | 95.6 | 5,220.3 | 4,774.1 | 9.3 | 5.5 | 9.6 | ||||||||||||||||
| Partner Reinsurance Co. of United States | A+ | Stable | 2,268.0 | 2,080.0 | 9.0 | N.A. | N.A. | 100.1 | 106.9 | 1,369.0 | 1,169.0 | 17.1 | N.A. | N.A. | ||||||||||||||||
| Renaissance Reinsurance United States Inc. | A+ | Stable | 2,056.9 | 1,281.1 | 60.6 | N.A. | N.A. | 104.0 | 113.0 | 1,801.4 | 1,235.7 | 45.8 | N.A. | N.A. | ||||||||||||||||
| SCOR Reinsurance Co. | AA- | Negative | 2,052.7 | 2,044.0 | 0.4 | -13.5 | -117.7 | 102.8 | 109.9 | 1,408.0 | 1,089.9 | 29.2 | -0.6 | -5.8 | ||||||||||||||||
| General Re Life Corp. | AA+ | Stable | 1,554.1 | 1,403.2 | 10.8 | -109.0 | -6.3 | N.A. | N.A. | 878.1 | 955.2 | -8.1 | -6.7 | -0.4 | ||||||||||||||||
| Markel Global Reinsurance Company | A | Stable | 910.7 | 705.5 | 29.1 | 2.1 | -83.2 | 99.7 | 112.7 | N.A. | N.A. | N.A. | 0.3 | -12.7 | ||||||||||||||||
| Arch Reinsurance Co. | A+ | Stable | 853.6 | 703.1 | 21.4 | 48.2 | -33.0 | 96.7 | 108.6 | 2,614.5 | 1,983.2 | 31.8 | 6.1 | -4.9 | ||||||||||||||||
| W. R. Berkley Corporation* | A+ | Stable | 827.1 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | 6,653.0 | N.A. | N.A. | N.A. | N.A. | ||||||||||||||||
| Axis Reinsurance Company | A+ | Stable | 786.8 | 666.7 | 18.0 | N.A. | N.A. | 102.8 | 101.5 | 1,117.5 | 1,125.8 | -0.7 | N.A. | N.A. | ||||||||||||||||
| Toa Reinsurance Co. of America | A+ | Negative | 629.4 | 579.3 | 8.6 | -61.1 | -73.2 | 116.9 | 120.1 | 650.9 | 708.5 | -8.1 | -9.2 | -12.0 | ||||||||||||||||
| Munich American Reassurance Co. | AA- | Stable | 539.0 | 511.8 | 5.3 | -543.4 | -344.6 | N.A. | N.A. | 607.7 | 593.3 | 2.4 | -66.4 | -47.0 | ||||||||||||||||
| General Star Indemnity | AA+ | Stable | 528.7 | 443.4 | 19.2 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | ||||||||||||||||
| National Liability & Fire Company | AA+ | Stable | 418.8 | 206.3 | 103.0 | -74.3 | -53.1 | 211.1 | 131.0 | 1,979.9 | 1,529.8 | 29.4 | -7.5 | -92.8 | ||||||||||||||||
| SCOR Global Life USA Reinsurance Company | AA- | Negative | 302.4 | 311.5 | -2.9 | -6.4 | -39.2 | N.A. | N.A. | 184.1 | 176.4 | 4.4 | -2.0 | -11.9 | ||||||||||||||||
| SCOR Global Life Americas | AA- | Negative | 225.8 | 228.4 | -1.1 | -50.3 | -51.0 | N.A. | N.A. | 142.6 | 170.3 | -16.3 | -21.4 | -21.3 | ||||||||||||||||
| Columbia Insurance Company | AA+ | Stable | 184.9 | 215.6 | -14.2 | 116.6 | 201.9 | N.M. | 30.7 | 49,132.7 | 43,492.4 | 13.0 | 1.6 | 5.0 | ||||||||||||||||
| SiriusPoint America Insurance Company | A- | Watch Neg | 142.2 | N.A. | N.A. | -26.1 | N.A. | 151.6 | N.A. | 693.6 | N.A. | N.A. | -40.8 | N.A. | ||||||||||||||||
| SCOR Global Life Reinsurance Company of Delaware | AA- | Negative | 70.6 | 88.3 | -20.1 | -41.2 | 2.3 | N.A. | N.A. | 63.3 | 104.2 | -39.2 | -55.6 | 2.4 | ||||||||||||||||
| National Fire & Marine Insurance Company | AA+ | Stable | 57.4 | 69.9 | -17.9 | 114.0 | -33.2 | N.M. | 79.3 | 11,558.9 | 8,660.3 | 33.5 | 3.2 | -2.3 | ||||||||||||||||
| General Star National Insurance Company | AA+ | Stable | 35.6 | 31.7 | 12.3 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | ||||||||||||||||
| Genesis Insurance Company | AA+ | Stable | 21.2 | 19.4 | 9.3 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | ||||||||||||||||
| Aspen American Insurance Company | A- | Stable | 17.7 | 227.9 | -92.2 | -4.1 | 8.0 | 196.4 | 96.5 | 889.7 | 606.2 | 46.8 | -96.4 | 3.3 | ||||||||||||||||
| Total: | 73,591.9 | 63,929.2 | 15.1 | -445.4 | -2,700.3 | 121.9 | 106.2 | 381,423.2 | 317,664.8 | 20.1 | -0.3 | -2.8 | ||||||||||||||||||
| Grand Total: | 260,640.0 | 242,542.1 | 7.5 | 13,033.7 | 2,881.8 | 102.7 | 103.9 | 717,337.9 | 644,004.4 | 11.4 | 4.0 | 1.2 | ||||||||||||||||||
| Rating = Financial strength ratings of core operating entities of the groups as of Aug. 23, 2022. *Rating--Financial strength ratings of core operating entities of the groups. §Rating--Turkey National Scale. N.A.--Not available. N.M.--Not meaningful. N.R.--Not rated. Note: Exchange rates may slightly differ from previous years' GRH data due to alignment of foreign exchange rates with other S&P Global surveys. | ||||||||||||||||||||||||||||||
This report does not constitute a rating action.
| Primary Credit Analyst: | Johannes Bender, Frankfurt + 49 693 399 9196; johannes.bender@spglobal.com |
| Secondary Contacts: | Taoufik Gharib, New York + 1 (212) 438 7253; taoufik.gharib@spglobal.com |
| Antun Zvonar, New York + 1 (212) 438 7338; antun.zvonar@spglobal.com | |
| Marcela M Mikkola, Denver 1 (303) 721 4838; marcela.mikkola@spglobal.com |
No content (including ratings, credit-related analyses and data, valuations, model, software, or other application or output therefrom) or any part thereof (Content) may be modified, reverse engineered, reproduced, or distributed in any form by any means, or stored in a database or retrieval system, without the prior written permission of Standard & Poor’s Financial Services LLC or its affiliates (collectively, S&P). The Content shall not be used for any unlawful or unauthorized purposes. S&P and any third-party providers, as well as their directors, officers, shareholders, employees, or agents (collectively S&P Parties) do not guarantee the accuracy, completeness, timeliness, or availability of the Content. S&P Parties are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, for the results obtained from the use of the Content, or for the security or maintenance of any data input by the user. The Content is provided on an “as is” basis. S&P PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S FUNCTIONING WILL BE UNINTERRUPTED, OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall S&P Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the Content even if advised of the possibility of such damages.
Credit-related and other analyses, including ratings, and statements in the Content are statements of opinion as of the date they are expressed and not statements of fact. S&P’s opinions, analyses, and rating acknowledgment decisions (described below) are not recommendations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. S&P assumes no obligation to update the Content following publication in any form or format. The Content should not be relied on and is not a substitute for the skill, judgment, and experience of the user, its management, employees, advisors, and/or clients when making investment and other business decisions. S&P does not act as a fiduciary or an investment advisor except where registered as such. While S&P has obtained information from sources it believes to be reliable, S&P does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives. Rating-related publications may be published for a variety of reasons that are not necessarily dependent on action by rating committees, including, but not limited to, the publication of a periodic update on a credit rating and related analyses.
To the extent that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P reserves the right to assign, withdraw, or suspend such acknowledgement at any time and in its sole discretion. S&P Parties disclaim any duty whatsoever arising out of the assignment, withdrawal, or suspension of an acknowledgment as well as any liability for any damage alleged to have been suffered on account thereof.
S&P keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of S&P may have information that is not available to other S&P business units. S&P has established policies and procedures to maintain the confidentiality of certain nonpublic information received in connection with each analytical process.
S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P reserves the right to disseminate its opinions and analyses. S&P's public ratings and analyses are made available on its Web sites, www.spglobal.com/ratings (free of charge), and www.ratingsdirect.com (subscription), and may be distributed through other means, including via S&P publications and third-party redistributors. Additional information about our ratings fees is available at www.spglobal.com/usratingsfees.