Investment landscape rearranges as Swiss Re takes the leading position, piquing investor interest?
In the dynamic world of reinsurance, the industry's leading players have seen a shake-up in their positions, according to the latest data from rating agency AM Best.
Swiss Re has taken the top spot, surpassing Munich Re with a gross reinsurance premium volume of $36.2 billion. Swiss Re's position as the largest reinsurer is largely due to its switch to the IFRS 17 accounting standard.
Munich Re, while falling one rank, remains a formidable force in the industry. The company now stands as the second-largest reinsurer, with a gross reinsurance premium volume of $32.6 billion. Munich Re's combined loss ratio indicates excellent underwriting quality, outperforming the rest of the industry. In 2024, the company maintained strong profitability, with a combined loss ratio of 77.3% in non-life reinsurance.
Despite some short-term momentum loss, investors are encouraged to stay on board with Munich Re. The company's stock is considered one of the most solid long-term investments in the DAX, Germany's leading stock index.
Berkshire Hathaway has emerged as the new leader among non-IFRS 17 reporters, with a gross premium volume of $26.9 billion.
Reinsurance Group of America ranks third among non-IFRS 17 reporters, with a gross premium volume of $15.6 billion. On the other hand, Hannover Re ranks third among IFRS 17 reporters, with gross reinsurance premiums of $27.5 billion.
SCOR and China Re follow closely, with SCOR reporting gross reinsurance premiums of $16.8 billion and China Re reporting $5.9 billion, respectively.
The currently most popular DAX investment companies, especially after Munich Re's decline as rated by AM Best among reinsurers, include SAP, Siemens, Siemens Energy, BASF, Volkswagen, Beiersdorf, EON, Deutsche Telekom, Heidelberg Materials, and Continental. SAP and Siemens remain key top performers driving the DAX towards new records in 2025.
It's worth noting that Boersenmedien AG, the publisher of this article, holds shares of Munich Re NA in its real portfolio. Mr. Bernd Foertsch, the management and majority shareholder of Boersenmedien AG, has positions in the financial instruments mentioned in the publication or related derivatives that could benefit from the price development resulting from the publication: Munich Re NA.
Rounding out the top five among non-IFRS 17 reporters are Everest Group and RenaissanceRe, with gross premium volumes of $12.9 billion and $11.7 billion, respectively. Lloyd's ranks second among non-IFRS 17 reporters, with a gross premium volume of $23.5 billion.
The rankings of the world's largest reinsurers have been reshuffled, and the race to the top continues. As the industry evolves, it's clear that these companies will continue to shape the future of reinsurance.
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