Best's Market Segment Report: European ‘Big Four’ Reinsurers Maintain Their Risk Appetites

Europe’s four largest reinsurers—Swiss Re, Munich Re, Hannover Re and SCOR—reported strong results in 2024, benefitting from good rate adequacy and continued underwriting discipline on policy terms and attachment points. According to a new AM Best report, they are also maintaining their ambitious profit targets for 2025, despite the material impact of the California wildfires in first-quarter 2025 and signs of rate softening.

The Best’s Market Segment Report, “The European “Big Four” Reinsurers Maintain Their Risk Appetites”, is part of AM Best’s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. Other reports, including AM Best’s ranking of top global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life/annuity, health and regional reinsurance markets, will be available during August and September.

The report notes that all four reinsurers continue to benefit from business written through the hard reinsurance market, with strong pricing, terms and conditions, which allow them to maintain robust performance metrics for their property/casualty reinsurance segments. Also, with a healthy interest rate environment, improved underwriting discipline and increased demand for longevity and mortality risk protection, it is expected that life business will continue to be a source of profitability and diversification for the “Big Four”.

To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=356963.

For global reinsurance reports ahead of Rendez-Vous de Septembre, as well as video coverage of the event, please visit AM Best’s Reinsurance Information center.

Lastly, AM Best will host its annual reinsurance market briefing at Rendez-Vous de Septembre on Sept. 7, 2025, at 10:15 a.m. (CEST) in Monte Carlo. For more information, please visit the event website.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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