As COVID-19-related insurance claims continue to pile up, some of the world's largest reinsurers are already reporting heavy losses for 2020. For the first quarter of 2020, Munich Re disclosed COVID-19-related losses of $934 million (800 million euros), mainly from event cancellation insurance. Notably, Munich Re also recently stopped selling pandemic insurance coverage after recording $1.8 billion in losses in the first half of 2020, according to Bloomberg. Allianz Group and Hannover Re announced estimated losses of 400 million euros ($469M) and 220 million euros ($258M), respectively. Swiss Re said it expected a $476 million non-life charge that mainly covers expected claims for canceled or postponed events. 2020 will be a tough year for many insurers and reinsurers around the world. Some, however, are better positioned than others to recover major losses. Taking a look at the world's largest reinsurance players, a new report from S&P Global Ratings ranks the top reinsurers globally based on 2019 business performance. S&P's annual Global Reinsurance Highlights report reflects survey response data from 132 reinsurance organizations representing more than 33 countries. In the slideshow above, discover the top 20 global reinsurers in 2019, ranked by net premiums written, according to S&P Global. Related: |

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