The Best of Europe Revealed - Part 1

This year Intelligent Insurer spent three months conducting extensive research on the reinsurance industry in an attempt to determine which companies are regarded as leading the way—by their peers and rivals.

The tables displayed in our European Awards show the highest ranked companies in some of the core categories that were studied during our analysis of the market, based on the responses of executives responding specifically in relation to the European market.

The research that these awards are based upon was a huge undertaking and represents one of the biggest surveys of its kind. Senior industry executives from across the globe took part in this project, which involved phone interviews and online surveys, to create a database of genuine use to the market.

Some 27 percent of respondents specifically commented in relation to Europe. The figures and data presented here take into account these respondents, giving a fascinating insight into how the companies listed are regarded in Europe.

EUROPEAN MARKET ANALYSIS

Looking at the data from the largest reinsurance companies with gross written premiums (GWP) of more than $2 billion, one of the most interesting findings here is that the newly formed XL Catlin has broken into the top three in certain categories.

When it came to the categories of client service and innovation and ability to create new solutions the newly amalgamated company came third in both sections, with Munich Re just behind it.

When it came to market knowledge and expertise Munich Re retained its primacy as one of the top two reinsurers, just behind Swiss Re, although XL Catlin wasn’t too far behind. Next year’s survey results should make for some interesting reading.

Looking at the smaller reinsurers, with GWP of less than $2 billion, QBE Re dominated many of the categories, coming first in three and second in another one. Amlin and AXIS Re also did well.

On the brokers’ side things are a little more mixed. Looking at companies with more than $1 billion in revenues, Guy Carpenter came first in the client service category, followed by Aon Benfield and then Willis Re. However, in the categories of innovation and ability to create new solutions and expertise and market knowledge both of these were won by Aon Benfield, with Guy Carpenter second and Willis Re third.

Similarly, there was something of a battle between Matrix Brokers and JLT Re in the list of brokers with less than $1 billion in revenues. In the three categories mentioned above JLT Re came first twice (client service and expertise and market knowledge), followed by Matrix Brokers while Matrix came first once (innovation and ability to create new solutions). In all the categories, Lockton came third.

Click here to see the European results.

Some winners of the European Awards 2015

Swiss Re

Jean-Jacques Henchoz (above left), chief executive officer reinsurance EMEA, Swiss Re

Best Reinsurer for Client Service (GWP more than $2bn)

Best Reinsurer for Innovation and Ability to Create New Solutions (GWP more than $2bn)

Best Reinsurer for Expertise and Market Knowledge (GWP more than $2bn)

Best Reinsurer for Ability and Willingness to Pay Claims (GWP more than $2bn)

Guy Carpenter

Nick Frankland, chief executive officer of EMEA Operations, Guy Carpenter

Best Reinsurance Broker for Client Service (Turnover more than $1bn)

Matrix Brokers

Gerry Tighe (middle), head of treaty; Dimitra Keleki (right), treaty senior broker/head of claims division; and John Melakopidis (left), treaty broker, Matrix Brokers

Best Reinsurance Broker for Innovation and Ability to Create New Solutions (Turnover less than $1bn)

Aon Benfield

Jan-Oliver Thofern, chairman and chief executive officer, Aon Benfield Deutschland

Best Reinsurance Broker for Innovation and Ability to Create New Solutions (Turnover more than $1bn)

Best Reinsurance Broker for Expertise and Market Knowledge (Turnover more than $1bn)