2003 Arab reinsurers' ranking
Written premiums
The ranking of Arab insurers according to the volume of issued premiums puts the Société Centrale de Réassurance (SCR), Morocco at the top of the list ahead of ARIG, CCR (Algiers), BEST Re and Egypt Re.
in USD| Companies | 2003 | 2002 | 2001 | 2000 | 2000-2003 growth |
|---|---|---|---|---|---|
| SCR | 236 275 559 | 198 390 340 | 153 470 284 | 148 901 484 | +59% |
| ARIG | 113 600 000 | 108 400 000 | 112 600 000 | 124 600 000 | -9% |
| CCR | 77 012 000 | 72 437 000 | 57 676 000 | 47 741 000 | +61% |
| BEST Re | 65 902 256 | 57 823 123 | 45 269 958 | 61 266 957 | +8% |
| Egypt Re | 64 077 000 | 60 187 000 | 77 557 000 | 75 526 000 | -15% |
| Trust | 62 636 362 | 57 383 805 | 41 018 179 | 34 200 858 | +83% |
| Tunis Re | 41 921 000 | 58 733 000 | 23 109 000 | 20 981 000 | +100% |
| Arab Re | 21 690 133 | 17 965 675 | 16 456 988 | 15 111 881 | +44% |
| Kuwait Re* | 19 087 600 | 11 653 260 | 9 646 340 | 10 290 690 | +85% |
| Arab Union Re | 9 999 436 | 9 707 204 | 7 651 647 | 7 646 950 | +31% |
However, it is worth mentioning that the above ranking includes two distinct groups of reinsurers:
- The first group includes reinsurers who benefit from obligatory cessions or who take advantage of a privileged status on their national market. In this group, we can see SCR, which reports a turnover of 58% of the legal cessions, and which generally achieves 95% of its premium volume in Morocco. Equally included in this group are CCR Algiers, Arab Union Re, Arab Re, …
- The second group includes a restricted number of companies: ARIG, BEST Re, and to a lesser extent Trust, which benefits, nonetheless, from a share of the cessions of the group's insurance companies.
Retrocession net premiums
in USD| Companies | 2003 | 2002 | 2001 | 2000 | 2000-2003 growth |
|---|---|---|---|---|---|
| SCR | 182 813 635 | 158 121 242 | 115 854 436 | 120 707 652 | +51% |
| ARIG | 100 900 000 | 91 500 000 | 46 700 000 | 104 700 000 | -4% |
| BEST Re | 55 939 533 | 45 868 464 | 40 019 181 | 51 439 766 | +9% |
| CCR | 49 686 000 | 18 841 000 | 20 293 000 | 14 260 000 | +248% |
| Egypt Re | 19 435 000 | 22 642 000 | 31 360 000 | 25 382 000 | -23% |
| Tunis Re | 13 785 000 | 18 969 000 | 10 218 000 | 9 436 000 | +46% |
| Trust | 7 617 356 | NA** | NA** | NA** | NA** |
| Arab Union Re | 7 334 855 | 5 733 331 | 4 857 441 | 4 457 295 | +65% |
| Kuwait Re* | NA** | NA** | NA** | NA** | NA** |
| Arab Re | NA** | NA** | NA** | NA** | NA** |
It is SCR, which holds, by far, most of the premiums in 2003: 182 813 635 USD.
In terms of the percentage of written premiums, ARIG ranks first with an 88% retention in 2003, followed by BEST Re at 85% and SCR at 77.4%.
For the period 2000 to 2003, it is BEST Re that has the highest retention rate : 84% of written premiums.
Among those holding the least of premiums for the year 2003, we can find Trust with a 12.3% retention.
Retrocession rates
| Companies | 2003 | 2002 | 2001 | 2000 | 2000-2003 retrocession rate |
|---|---|---|---|---|---|
| ARIG | 11.2% | 15.6% | 58.5% | 16.0% | 25.13% |
| Best Re | 15.1% | 20.7% | 11.6% | 16.0% | 16.06% |
| SCR | 22.6% | 20.3% | 24.5% | 18.9% | 21.65% |
| Arab Union Re | 26.6% | 40.9% | 36.5% | 41.7% | 36.05% |
| CCR | 35.5% | 74.0% | 64.8% | 70.1% | 59.55% |
| Tunis Re | 67.1% | 40.9% | 55.8% | 55.0% | 63.71% |
| Egypt Re | 69.7% | 62.4% | 59.6% | 66.4% | 64.37% |
| Trust | 87.8% | NA** | NA** | NA** | NA** |
| Arab Re | NA** | NA** | NA** | NA** | NA** |
| Kuwait Re | NA** | NA** | NA** | NA** | NA** |
ARIG is the company that retrocedes the least premiums in 2003. In fact, only the company's non-proportional cover cost are posted in retrocession.
BEST Re comes second in 2003 but ranked first during the period from 2000 to 2003 with 16.06% of premiums retroceded.
The companies that retrocede most of the premiums are: Trust, Egypt Re, Tunis Re and CCR Algiers (59.55% for the period 2000 to 2003).
Loss ratio
| Companies | 2003 | 2002 | 2001 | 2000 | 2000-2003 loss ratio |
|---|---|---|---|---|---|
| CCR | 17.2% | 74.77% | 106% | 100.41% | 66.32% |
| Tunis Re | 37.0% | 45.0% | 118.0% | 79.0% | 55.21% |
| Trust | 44% | 89% | 128% | 142% | 96.9% |
| Best Re | 48% | 56% | 55% | 55% | 53.37% |
| Kuwait Re | 58.4% | 69.4% | 88.7% | 77.7% | 69.08% |
| Arab Re | 62% | 60% | 65% | 69% | 64.35% |
| ARIG | 67.9% | 86.2% | 217.1% | 134.4% | 74.02% |
| Arab Union Re | 78% | 43% | 37% | 44% | 58.35% |
| SCR | 87% | 100% | 79% | 84% | 97% |
| Egypt Re | 100% | 112.8% | 100.4% | 83.3% | 122% |
It is CCR that has the lowest loss ratio in 2003: 17.2%. In fact, CCR's 2003 underwriting year has benefited from a considerable liberation of the outstanding claims accumulated during the previous financial years.
For the period between 2000 and 2003, it is BEST Re that has the lowest loss ratio with 53.3%, followed by Tunis Re with 55.21% and Arab Union Re with 58.35%.
Egypt Re with 122%, SCR with 97% and Trust with 96.9% have the highest loss ratios the period 2000 to 2003.
