2022 ANNUAL REPORT
2022 ANNUAL REPORT
OdysseyRe brings its expertise, high-quality service and capital to the table every day to deliver innovative reinsurance solutions to our clients and business partners around the world. We value our long-term relationships, seek to form new relationships and pride ourselves on exceeding service expectations.
Our reinsurance business operates through a global network of 14 branch and representative offices across five regions: North America, Latin America, Europe, Middle East & Africa (EMEA), AsiaPacific and London. Each region is comprised of talented, dedicated teams of underwriters, actuaries, claims professionals and catastrophe modelers. Our portfolio is primarily underwritten through our flagship company, Odyssey Reinsurance Company, with Odyssey Re Europe S.A. available only under specific circumstances.
In 2022, we produced $3.7 billion of gross premiums written, an increase of 31% over the prior year, with growth coming from most regions and product lines. Our reinsurance portfolio generated a combined ratio of 95.5% in 2022, compared to 100.0% in 2021. With the stability of our workforce and the consistency of our underwriting and claims handling, we are well positioned to meet our clients’ unique reinsurance needs for many years to come.
Carl A. OveryChief Executive
OfficerReinsurance
2022
GROSS PREMIUMS WRITTEN
$3.7
Billion
2022
COMBINED
RATIO
95.5%
*Other includes Energy, Aerospace, Multiline.
*Other includes Energy, Aerospace, Multiline.
North America
EMEA
AsiaPacific
Latin America
London
Treaty:
Facultative:
2022
GROSS PREMIUMS WRITTEN
$2.5
Billion
U.S.
Canada
Brian D. Quinn
Chief Executive Officer
OdysseyRe’s North America team offers treaty and facultative reinsurance to clients in the U.S. and Canada. Treaty facilities are based in Stamford, with additional offices in Toronto and Montreal. Casualty facultative underwriters operate from New York and Chicago.
*Other includes Crop, Marine, Aerospace.
*Other includes Crop, Marine, Aerospace.
Treaty:
Facultative:
2022
GROSS PREMIUMS WRITTEN
$570
Million
Europe
Middle East
Africa
Isabelle Dubots-Lafitte
Chief Executive Officer, Europe, Middle East and Africa
OdysseyRe offers treaty reinsurance in Europe, the Middle East and Africa (EMEA) from its offices in Paris and Stockholm. The Paris-based underwriting team is responsible for underwriting all property and casualty treaties in EMEA, while the Stockholm office services the Nordic and Baltic markets.
2022
GROSS PREMIUMS WRITTEN
$282
Million
China
Japan
South East Asia/Pacific
India
South Korea
Lucien Pietropoli
Chief Executive Officer
OdysseyRe’s AsiaPacific team underwrites treaty reinsurance from Singapore, with the support of two representative offices in Beijing and Tokyo. Its geographical focus includes China, Japan, South Korea, Hong Kong, India, Southeast Asia, Australia and New Zealand.
Treaty:
Facultative:
2022
GROSS PREMIUMS WRITTEN
$236
Million
Treaty
Facultative
Philippe E. Mallier
Chief Executive Officer
OdysseyRe provides treaty and facultative reinsurance to clients located in all countries throughout Latin America and the Caribbean. Offices are based in Mexico City, Miami and São Paulo, Brazil.
*Other includes Aerospace, Accident & Health and Multiline.
*Other includes Aerospace, Accident & Health and Multiline.
Treaty:
Facultative:
2022
GROSS PREMIUMS WRITTEN
$162
Million
Robert Pollock
Chief Executive Officer
OdysseyRe’s London branch provides treaty solutions to reinsurance clients, principally operating from the U.K., including Lloyd’s. For certain classes of business, such as marine, energy, aerospace and retro, the branch has a global remit given the London market’s leadership positions in these sectors.
*Other includes Accident & Health, Credit & Bond, Energy and Aerospace.
*Other includes Accident & Health, Credit & Bond, Energy and Aerospace.
