BestWeek: World’s Largest Insurers List Shows Top Companies Shuffle on Net Premiums
January 3, 2014 by Caroline Saucer, BestWeek Editor, Caroline.Saucer@ambest.com
OLDWICK, N.J. – There was a shuffle in the ranking of the top-five largest insurance companies in the world, as Allianz and Generali climbed higher and Japan Post fell out as another Japanese company cracked the top bracket, according to A.M. Best Co. data featured in this week’s BestWeek Americas. For the first time, U.S.-based Prudential joined the top 10, as net premiums written skyrocketed on two giant pension risk-transfer transactions.
Also featured in BestWeek Americas and BestWeek Europe is a Best’s Special Report on third-quarter results for the property/casualty industry. Sustained moderation in losses from catastrophes and weather-related events, and premium growth produced a third consecutive profitable quarter. Through Sept. 30, 2013, the industry’s combined ratio remains a favorable 96.5.
BestWeek Americas also looks at a Guy Carpenter report saying reinsurance renewals are down 11% in January.
