Global: AM Best affirms credit rating of Active Capital Re
Source: Middle East Insurance Review | Oct 2024
AM Best has affirmed its “A” (Excellent) Financial Strength Rating (FSR) for Active Capital Reinsurance, Ltd. (Active Re) and its “a” (Excellent) Long-Term Issuer Credit Rating (ICR), both with a stable outlook. For the second consecutive year, the company maintains its “A” (Excellent) Financial Strength Rating.
The rating agency has assessed Active Re’s balance sheet strength as “strongest” and noted its solid operating performance, neutral business profile and appropriate enterprise risk management (ERM), strategic pillars that characterise the sustained growth and diversification achieved by the reinsurer. The rating also reflects ongoing improvements in the reinsurance programme and the credit quality of supporting markets, effectively minimising counterparty risk.
In view of this achievement, Active Re CEO Ramón Martínez Carrera stated that “this rating of ‘A’ (Excellent) by AM Best reflects the level of maturity achieved through the strategy implemented several years ago, based on constant capitalisation, quality and efficiency of underwriting focused on non-catastrophic short-term risks, with conservative leverage. Our geographic and business line expansion have been growing orderly, showing good technical results and an adequate global weighted country risk”.
Active Re continues to adapt its business model to meet the challenges of a highly competitive and volatile environment, strengthening its professional team and alliances with strategic partners. Innovation and digitalisation continue to be catalysing pillars of the efficiency and stability reflected in all its metrics. M