VIDEO: The global insurance market went up by 4.8% in 2011, to EUR 3,300 billion, while reinsurance business rose to EUR 160 billion

11 September 2012 — Oleg DORONCEANU
Gross written premium on the global insurance market amounted EUR 3,300 billion in 2011, 4.8% up as compared to 2010. About 57% of this amount was written in life insurance, while the remaining 43% refers to non-life insurance lines. As far as reinsurance is concerned, the global specialty market reached EUR 160 billion, while in 2010 it stood at EUR 150 billion, stated today Jean-Philippe THIERRY, President of the Rendez-Vous de Septembre Association, on the occasion of the press conference held in Monte Carlo.

The worldwide reinsurers' ranking remained almost unchanged in 2011, as compared to 2010. Thus, MUNICH Re leads undisputedly, with net premium worth ~EUR 25 billion, followed by SWISS Re, with EUR 17.6 billion and BERKSHIRE HATHAWAY (BHRG+GEN Re) - EUR 11.5 billion. HANNOVER Re, with underwritings of EUR 11 billion and LLOYD's, with EUR 7.6 billion are completing the Top 5 team.

It is worth mentioning that 2011 showed an increasing concentrating degree of the reinsurance market, Top 5 companies accounting for about 44% of the total underwritings, while Top 10 companies are holding 59% of the specialty market.

As far as the reinsurance intermediation is concerned, the total turnover of the first three worldwide brokers have cumulated about USD 3.27 billion, according THIERRY. Thus, the first three positions in the reinsurance brokers' ranking belong to AON Benfield, with a business volume of USD 1.46 billion, GUY Carpenter - USD 1.04 billion and WILLIS Re - USD 763 billion. Overall, the three companies reported a 6.4% y-o-y growth of their business in 2011.

At the 2012 edition of the traditional meeting, Media XPRIMM is represented by a team consisting of Adriana PANCIU, CEO, Alexandru CIUNCAN, Managing Partner, Oleg DORONCEANU, International Markets Coordinator, and Dimitrios TSOULIAS, International Markets Counselor.

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