Munich Re, Swiss Re and Hannover Re remain the three most preferred property and casualty reinsurance brands in Latin America in 2025, holding the same positions as last year, according to new research from NMG Consulting.
The firms ranked first, second and third, respectively, in the latest edition of NMG’s Global P&C Re Study for the region.
SCOR and MAPFRE Re also kept their previous slots, placing fourth and fifth among Latin American market participants. The ranking is based on unaided feedback from cedants and reinsurance brokers on overall brand quality and perceived specialist expertise by line of business.
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NMG’s findings show limited movement at the top of the table but more reshuffling in the middle and lower tiers. Lloyd’s, Everest Re and Liberty Mutual Re each moved up one place to sixth, seventh and eighth, while Gen Re slipped three positions to ninth and Patria Re held steady in 10th.
Read more: Swiss Re, Munich Re top Continental Europe P&C reinsurer rankings again
Allianz Re advanced one spot to 11th, with AXA XL Re edging down one place to 12th, and Brazil’s IRB(Re) gaining two positions to 13th. MS Re climbed four places to 14th, Navigators fell two spots to 15th, and Austral Re recorded one of the biggest upward moves, jumping six places to 16th.
QBE Re improved three positions to 17th, while TransRe dipped one place to 18th and PartnerRe rose two spots to 19th. Odyssey Re experienced the steepest decline in the 2025 survey, dropping six positions to 20th.
In full, NMG’s 2025 Latin America P&C reinsurer brand ranking is:
The Latin American results mirror patterns seen in Continental Europe, where Swiss Re and Munich Re have again taken the top two P&C reinsurer brand positions in NMG’s 2025 Global P&C Re Study.
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