--- title: "貝氏市場細分報告：慕尼黑再保險公司和勞合社在 AM Best 的 “全球 50 大再保險公司” 排名中位居榜首" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/296068697.md" description: "根據 AM Best 的排名，慕尼黑再保險公司和勞合社在 2025 年成為全球最大的再保險公司，得益於對美元的外匯收益和強勁的承保表現。慕尼黑再保險公司在 IFRS 17 報告者中重新奪回了首位，而勞合社則在非 IFRS 17 實體中領先。儘管加利福尼亞的野火影響了年初的業績，但該行業的資本水平仍創下紀錄" datetime: "2026-08-17T07:16:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296068697.md) - [en](https://longbridge.com/en/news/296068697.md) - [zh-HK](https://longbridge.com/zh-HK/news/296068697.md) generator: "portal-rs" --- # 貝氏市場細分報告：慕尼黑再保險公司和勞合社在 AM Best 的 “全球 50 大再保險公司” 排名中位居榜首 **Best’s Market Segment Report: Munich RE, Lloyd’s Land Atop AM Best’s “World’s 50 Largest Reinsurers” Rankings** Foreign currency exchange gains against the U.S. dollar have enabled Munich Re and Lloyd’s to reach the top echelon in **AM Best’s** companionrankings of the world’s largest reinsurers, which differ based on accounting standards. Munich Re has reclaimed the top position among IFRS 17 reporting reinsurers, driven in part by the Euro’s strong performance compared to the U.S. dollar. Meanwhile, Lloyd’s moved to the top of the ranking for non-IFRS 17 reinsurers, lifted by premium growth and the British Pound appreciating against the U.S. dollar. The rankings are included in a new *Best’s Market Segment Report*, “World’s 50 Largest Reinsurers,” which is a highly recognized part of AM Best’s overall look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. Other reports, including AM Best’s in-depth looks at the insurance-linked securities, Lloyd’s, life/annuity, health and regional reinsurance segments, will be available during August and September. The depreciation of the U.S. dollar (USD) against most currencies in 2025 came into play and enhanced the rankings of many non-USD-denominated reinsurers, with currency rate fluctuations having a meaningful impact. AM Best converts all reporting currencies to USD using the foreign exchange rate as of the date of companies’ financial statements. In addition, this now also marks the third full year of the ranking-related financial information being reported under IFRS-17, which has provided AM Best with additional insights into the year-over-year performance of reinsurers ranked in the report. The most notable change among the IFRS-17 reporters this year is Munich Re reclaiming the top position from Swiss Re. Swiss Re was ranked in the top position among non-IFRS reporters in 2023 and then among IFRS-17 reporters in 2024, after the group transitioned that year. Both groups had modest declines in reinsurance revenue year-over-year. Hannover Re stayed in third place, SCOR holds the fourth position and China Re remained in the fifth position. “The top 5 IFRS-17 players had solid performance in 2025, reporting a weighted combined ratio of 80.0%,” said Christopher Pennings, senior financial analyst, AM Best. “This marked a notable decline from the prior year’s weighted combined ratio of 84.9%.” Among the top 5 non-IFRS 17 players, the most significant change is Lloyd’s moving to the top position, overtaking Berkshire Hathaway after it took the top position last year, when Swiss Re transitioned to reporting under IFRS-17. The change in the ranking is the result of a combination of factors that are detailed in the report. Other highlights from the annual ranking report include: • Reinsurers’ underwriting performance remained strong in 2025, despite some material price softening. The industry generated record levels of capital, driven by multiple years of strong profitability after rates hardened and terms and conditions became more favorable for reinsurers. Additionally, investment returns supplemented strong operating profits. “Risk-adjusted rate reductions occurred during the more recent renewal cycles, as the market experienced tailwinds, with terms and conditions largely holding strong,” said Dan Hofmeister, associate director, AM Best. • The absence of significant U.S. hurricane activity in 2025 improved profitability, with no major hurricane making landfall in 2025. However, the industry continued to experience the financial impact of severe convective storms in the United States, with loss estimates reaching as much as USD 61 billion, according to broker estimates. • The largest insured loss of 2025 occurred within weeks of the new year, namely the California wildfires. As the books closed on a very profitable 2024, 2025 started with many reinsurers producing their worst quarterly results in years. The event eroded a significant portion of exposed reinsurers’ allotted catastrophe capacity for the year. To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record\_code=367484. 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. 6, 2026, 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 specializing 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.** **Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.** **Christopher Pennings,** **CPCU** **Financial Analyst** **+1 908 882 2237** christopher.pennings@ambest.com **Dan Hofmeister,** **CFA, FRM, CAIA, CPCU** **Associate Director** **+1 908 882 1893** dan.hofmeister@ambest.com **Christopher Sharkey** **Associate Director, Public Relations** **+1 908 882 2310** christopher.sharkey@ambest.com **Al Slavin** **Senior Public Relations Specialist** **+1 908 882 2318** al.slavin@ambest.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260817448836/en/ ### 相關股票 - [MUV2.DE](https://longbridge.com/zh-HK/quote/MUV2.DE.md) - [HNR1.DE](https://longbridge.com/zh-HK/quote/HNR1.DE.md) - [01508.HK](https://longbridge.com/zh-HK/quote/01508.HK.md) - [BRK.A.US](https://longbridge.com/zh-HK/quote/BRK.A.US.md) - [BRK.B.US](https://longbridge.com/zh-HK/quote/BRK.B.US.md) - [MURGY.US](https://longbridge.com/zh-HK/quote/MURGY.US.md) ## 相關資訊與研究 - [慕尼黑再保險公司稱，2025 年非高峰災害的保險損失超過 1000 億美元，突顯了再保險的價值](https://longbridge.com/zh-HK/news/298133330.md) - [慕尼黑再保險公司在慕尼黑的股份公司削減了在阿徹丹尼爾斯米德蘭公司 $ADM 的持倉](https://longbridge.com/zh-HK/news/298108020.md) - [交易技術公司與 FairXchange 合作，提供獨立的機構外匯執行分析服務](https://longbridge.com/zh-HK/news/298355687.md) - [Trading Technologies 與 FairXchange 合作，為機構外匯市場提供獨立的執行分析](https://longbridge.com/zh-HK/news/298354694.md) - [Bukit Asam 截至 8 月 31 日已處理 96 起森林和土地火災，並加強了快速響應團隊](https://longbridge.com/zh-HK/news/298270567.md) --- > **免責聲明: 本文僅供參考，不構成任何投資建議。**