The UK hosts some of the most influential players in the local and global reinsurance sector, each offering unique strengths and expertise. Understanding what the biggest reinsurance companies in the UK offer is critical for brokers to stay competitive. This knowledge can also help brokers leverage these reinsurers’ financial stability and access innovative products.
If you’re searching for reinsurance companies that you can rely on for coverage, this guide can help narrow your options. See which firms stand out in terms of reputation, products, and net reinsurance premiums, so you can align with the right partner in this rapidly evolving industry.
Our research team has compiled a list of the top 10 biggest reinsurance companies in the UK. The companies listed below were pooled from the latest financial data. The reinsurers are ranked according to their net reinsurance premiums written.
Net reinsurance premiums written: £10 billion
Lloyd’s is perhaps one of the oldest and most famous reinsurers in the UK. Founded in 1688, Lloyd’s of London is recognised for its expertise in underwriting complex, specialty, and large-scale risks. These include marine, aviation, catastrophe, cyber, and emerging risks.
Lloyd’s underwrites both insurance and reinsurance businesses globally. This makes it a pivotal hub for risk transfer and innovation. Its unique structure enables the sharing of large and unusual risks, maintaining Lloyd’s reputation for reliability and adaptability.
These are the main reinsurance products that Lloyd’s offers:
This provides coverage for individual, high-risk exposures, but on a case-by-case basis. Facultative reinsurance is typically used when a risk is deemed too large to be covered under a standard treaty agreement.
Covers a portfolio of similar risks under a single agreement. This allows insurance companies to cede a portion of their business automatically, rather than negotiating each risk individually.
You refer to our brief guide on the differences between facultative and treaty reinsurance for more information.
This protects insurers against losses that exceed a specified retention level. With this product, Lloyd’s only pays when losses surpass the agreed threshold, making this ideal for catastrophic or large, infrequent claims.
This product splits premiums and claims between the insurer and reinsurer based on a fixed percentage. Both parties share the risk and reward proportionally.
This type of reinsurance limits the total losses an insurer can incur over a specified period. If aggregate losses exceed the predetermined amount, the reinsurer covers the excess.
This offers customized terms, such as loss caps or profit-sharing clauses, to address specific risk management needs.
With this product, insurers can combine multiple lines of business into a single reinsurance contract. This enables reinsurance companies to have broader coverage and increased operational efficiency.
This provides reinsurance for other reinsurers, especially for large or catastrophic events. Retrocession solutions spread out risk out even further throughout the market to increase its resilience.
Net reinsurance premiums written: £1.0 billion
A subsidiary of China Reinsurance Group Corp., China Re is the only state-owned reinsurance company in China and the largest in Asia. The group operates in over 100 countries, offering a comprehensive range of reinsurance solutions.
China Re serves insurers, reinsurers, and brokers with its strong financial backing and extensive experience and expertise. The company is listed in Hong Kong and is renowned for its robust capital base, global reach, and leadership in traditional and emerging reinsurance markets.
One of the biggest reinsurance companies in the UK, China Re is structured to support the local market’s demand for a limited range of products and services. This aligns with regulatory filings of China Re UK. Here’s what China Re, via China Re UK Limited, offers in the country:
This includes treaty and facultative reinsurance for property, motor, liability, engineering, and catastrophe risks and are designed to help UK insurers manage large, complex, or catastrophic exposures.
China Re provides tailored solutions for specialty lines, including aviation, energy, and marine insurance, which has been facing geopolitical headwinds. These products help address unique, high-value risks relevant to the UK reinsurance industry.
Net reinsurance premiums written: £512 million
A leading specialty insurer and reinsurer, Aspen Insurance UK is famous for providing tailored insurance and reinsurance solutions to companies who have complex, high-risk needs. Operating as part of global company Aspen, this company offers various products across casualty, property, specialty, and reinsurance lines.
Even as they are domiciled in the UK, Aspen caters to both local and international clients. The company is recognised for its expert, pragmatic, and innovative approach when servicing clients.
Clients can choose from a range of reinsurance products from Aspen that focus on both treaty and facultative solutions across multiple lines. Their main reinsurance offerings include:
This covers risks related to commercial, industrial, and residential property, including catastrophe and non-catastrophe exposures.
This reinsurance includes general liability, employers’ liability, motor liability, and other casualty risks.
This includes niche markets like marine, aviation, energy, credit and political risk, and cyber insurance, which is predicted to become highly sought-after and profitable.
This product provides coverage for individual, high-value, or complex risks that are outside the scope of standard treaty agreements.
This is automatic coverage for portfolios of similar risks, allowing insurers to cede a portion of their business for risk management and capital relief.
Net reinsurance premiums written: £433 million
Faraday Syndicate 435 is a Lloyd’s of London syndicate managed by Faraday Underwriting Limited. It's a subsidiary of Gen Re, which is also a part of Berkshire Hathaway.
Based in London, Syndicate 435 specialises in underwriting diverse portfolios. Faraday, meanwhile, is recognised for its professional, practical, and secure approach to specialty insurance and reinsurance solutions. It serves clients in the UK and abroad.
One of the biggest reinsurance companies in the UK, Faraday Syndicate 435 offers these products:
This includes both treaty and facultative solutions for commercial, industrial, and residential property risks, including catastrophe and non-catastrophe exposures.
This reinsurance product is available in the UK and abroad. It includes treaty and facultative coverage for UK liability, North American specialist lines, and international casualty risks.
This product provides reinsurance solutions for aviation risks, covering both airlines and general aviation.
Treaty reinsurance for a broad range of casualty risks on an international basis.
Net reinsurance premiums written: £342 million
Brit is one of the leading reinsurance groups and specialty insurers in London. Brit operates through Lloyd’s of London, underwriting complex and large-scale risks worldwide and offering a broad portfolio.
The company is known for its innovative approach, digital capabilities, and strong financial backing. Brit became part of Fairfax Financial in December 2024. It caters to a global client base, providing tailored solutions for both insurance and reinsurance needs.
The main reinsurance products provided by Brit in the UK include:
This covers portfolios of commercial, industrial, and residential property risks, including catastrophe and non-catastrophe exposures.
This includes general liability, employer’s liability, motor liability, and other casualty risks for local and international clients.
This includes cyber, energy, marine, and other specialty lines.
This covers individual, high-value, or complex risks that would not fit within the thresholds of ordinary treaty agreements.
Net reinsurance premiums written: £197 million
TransRe London is the UK subsidiary of Transatlantic Reinsurance Company (TransRe), a leading global reinsurer and part of Berkshire Hathaway. This company is part of a network of that includes some of the biggest insurance companies, while also providing facultative reinsurance solutions.
TransRe is recognised for its technical expertise, financial strength, and ability to deliver tailored risk transfer solutions for both standard and complex exposures.
TransRe London offers a wide range of reinsurance products in the UK that focus on both treaty and facultative solutions, including:
This is treaty and facultative coverage for commercial, industrial, and residential property risks, including catastrophe and non-catastrophe exposures.
This includes treaty and facultative solutions for general liability, employers’ liability, motor liability, and other casualty risks.
This covers complex risks in niche industries like marine, energy, and other unique specialty lines.
Net reinsurance premiums written: £181 million
Convex Insurance is a specialty insurer and reinsurer. Founded in 2019, this company is known for its innovative, client-focused approach. Convex has a strong, legacy-free balance sheet and offers a wide range of international specialty insurance and reinsurance products.
The company is part of the Convex Group, which is rated “A” by A.M. Best and S&P. Convex offers a wide range of international specialty insurance and reinsurance products, with offices in the US, UK, EU, and Bermuda.
Convex offers a wide range of facultative and treaty solutions, including:
This is standard treaty and facultative coverage for commercial, industrial, and residential property risks, including catastrophe and non-catastrophe risks.
This includes treaty and facultative solutions for employers’ liability, general liability, motor vehicle liability, and other casualty risks.
This covers complex risks in niche industries like marine, energy, aviation, cyber, and other specialty lines.
Net reinsurance premiums written: £176 million
SCOR UK is the London-based subsidiary of SCOR one of the largest global reinsurance groups. Established in 1977, SCOR UK provides a robust portfolio of reinsurance solutions to clients in the UK and overseas.
SCOR UK is well-known in the reinsurance industry for its technical expertise, financial strength, and ability to deliver tailored solutions for sophisticated and emerging risks.
SCOR UK offers similar reinsurance products as those offered by other companies, such as property, casualty, and specialty reinsurance.
The product that sets SCOR UK apart is its motor reinsurance. This offers solutions for motor insurance portfolios, including personal and commercial motor risks.
Net reinsurance premiums written: £152 million
Fidelis Underwriting is a specialty insurance and reinsurance company that takes an innovative and flexible approach to underwriting complex risks. Operating globally, Fidelis offers tailored solutions across a diverse range of insurance lines.
The company leverages deep market expertise and a strong capital base to deliver bespoke products to clients. Fidelis is also recognised for its agile, client-centric service, and commitment to sustainable, profitable growth in the specialty insurance and reinsurance sectors.
This company offers standard specialty and property reinsurance, along with several other distinct offerings like:
This offers protection from large-scale natural disasters and catastrophic events.
This is reinsurance for other reinsurers, designed to help spread risk for large or unusual exposures.
These are custom-designed products to address unique or emerging risks, reflecting Fidelis’s flexible, client-centric approach.
Net reinsurance premiums written: £92 million
Aspen Managing Agency Limited is Lloyd’s managing agency for Aspen’s syndicates. It oversees the underwriting and management of Aspen’s Lloyd’s operations. It provides a broad range of specialty insurance and reinsurance products. Aspen is recognised for its disciplined underwriting, technical expertise, and innovative approach to complex and emerging risks.
Aspen Managing Agency Limited is part of the Aspen Group, which is a leading global specialty insurer and reinsurer with a strong financial foundation and a reputation for client-focused solutions.
This company offers a range of reinsurance products in the UK via its Lloyd’s syndicates. Their main reinsurance products include standard property, casualty, and specialty reinsurance.
These reinsurance solutions are designed to support UK insurers and brokers with tailored, innovative risk transfer structures, addressing both traditional and emerging exposures.
Should you need to know which of these biggest reinsurance companies in the UK have a global footprint, you can do a cross-check and refer to our guide to the largest reinsurance companies in the world.
IFRS 17 is a new global accounting standard that is intended to make the financial reporting of the biggest reinsurance companies in the UK and other countries more transparent and comparable. It replaces IFRS 4, changing how revenue and liabilities are measured and reported. This can directly impact how brokers and clients assess and compare reinsurance companies in the UK and other markets.
In practice, IFRS 17 standardises insurance contract accounting on a global scale. This makes financial statements more transparent, consistent, and easier to compare. This standard applies to all entities that issue insurance or reinsurance contracts. For this list, these are the key indicators that are impacted by IFRS 17:
Under IFRS 17, the concept of net premium written is replaced by insurance or reinsurance revenue, which is recognised over the period that services are provided. This means that the biggest reinsurance companies in the UK now report revenue in a way that better reflects the timing and nature of risk transfer. This contrasts with the previous practice of simply reporting the total premiums written in a given year.
Note that for life insurance contracts, IFRS 17 requires a more granular approach to revenue recognition and liability measurement.
IFRS 17 impacts the calculation and presentation of shareholders’ funds, as insurance contract liabilities are now valued using updated assumptions and discount rates. Changes in the valuation of liabilities can cause fluctuations in reported equity. This affects how shareholders and analysts asses the financial strength of reinsurers.
IFRS 17 allows brokers, investors, and regulators to compare the financial strength and performance of the biggest reinsurance companies UK-wide (like Lloyd’s) and globally (like the Reinsurance Group of America), since all must follow the same rules.
With IFRS 17, reinsurance companies must provide more detailed information about their contracts, assumptions, risks, and performance. Such transparency helps brokers and clients assess the financial health and reliability of reinsurance partners better.
When choosing among these reinsurers, focus on the essentials like:
By weighing these crucial factors, brokers can confidently partner with the reinsurer that can provide them with the risk solutions they need.
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