A.M. Best lists its 2006 top reinsurers

Munich Re, Swiss Re Group, Berkshire Hathaway Group, Hannover Re and Lloyd’s of London are A.M. Best’s Top 5 reinsurers in 2006, based on consolidated gross premium written in 2005, according to the ratings agency.
“Ranked by 2005 gross written premium in U.S. dollars, 2006’s Top 5 groups accounted for 52% of the total gross premium for the aggregate Top 35, while the Top 10 accounted for 74% of the total gross premium,” A.M. Best reported in BestWeek, which ranked its Top 35 reinsurers. “Despite shifts in the rankings of the remaining Top 35, the overall market concentration among the upper tiers of the Top 35 held relatively constant in the 2006 ranking vs. the year before, adjusted for currency volatility.
“Looking ahead, however, corporate changes in 2006 already promise a shakeup in 2007’s rankings.”
Specifically, A.M. Best notes Swiss Re Group’s June 2006 acquisition of GE Insurance Solutions. A.M. Best says the sale “would have pushed the Swiss Re ranking to the top of the current list had it taken place in 2005.”
A.M. Best’s Top 10 reinsurers are as follows (amount in parentheses is consolidated gross premium written in 2005):
1. Munich Re (US$26.5 billion)
2. Swiss Re Group (US$23.2 billion)
3. Berkshire Hathaway Group (US$12.5 billion)
4. Hannover Re (US$11.5 billion)
5. Lloyd’s of London (US$9.1 billion)
6. GE Global Insurance Holdings (US$8.6 billion)
7. XL Capital (US$5.7 billion)
8. London Reins Group (US$4.2 billion)
9. RGA Reins Company ($4.2 billion)
10. Everest Re Group (US$4.1 billion)