What are the reinsurance companies in Europe?

Europe’s Leading Reinsurers Deliver Strong Returns in 2024

Despite a slight dip from the previous year, Europe’s top reinsurance companies closed 2024 with impressive financial performance. The continent’s “Big Four” — Munich Reinsurance Company (Munich Re), Swiss Reinsurance Company Ltd (Swiss Re), Hannover Rueck SE (Hannover Re), and SCOR SE — posted an average return on equity (RoE) of 13.7%. While this marks a decline from the exceptional 17.1% average achieved in 2023, it remains a robust figure in an industry often buffeted by volatile natural catastrophes and shifting risk landscapes.

Munich Re and Swiss Re, long considered global powerhouses in the reinsurance space, continued to demonstrate resilience through diversified portfolios and disciplined underwriting. Based in Germany and Switzerland respectively, both companies have extensive international operations, helping them absorb regional shocks and maintain stable profitability.

Meanwhile, Hannover Re, known for its strong presence in property and casualty reinsurance, upheld its reputation for steady growth. SCOR SE, headquartered in France, also contributed solidly to the group’s overall performance, leveraging its expertise in life and health as well as property and casualty segments.

The slight decline in average RoE compared to 2023 likely reflects increased claims from rising climate-related events and a more competitive pricing environment in certain markets. Still, the fact that these four giants maintained double-digit returns underscores their strategic agility and risk management strength.

As of March 2025, the European reinsurance sector remains a cornerstone of the global financial safety net, backing primary insurers in everything from pandemic risk to hurricane damage. With capital efficiency and innovation increasingly prioritized, these firms are well-positioned to navigate future uncertainties — not just as financial entities, but as essential players in global risk resilience.