Active Re, a global reinsurer headquartered in Barbados, has released its 2025 Annual Report “Positioned for What’s Ahead”, reporting a combined ratio of 88.4% for 2025, as well as a return on equity of 16.1%, a technical result of USD 26.7 million, and total equity of USD 108 million.
Despite a global reinsurance market defined by abundant capital, pricing adjustments across several lines of business, and intensifying competition, Active Re maintained a strategy that prioritises portfolio quality over volume growth.
This approach, the reinsurer stated, emphasises sustainable value creation and responsible risk management.
For the third consecutive year, AM Best reaffirmed Active Re’s Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent), both with a stable outlook, highlighting the company’s balance sheet strength, consistent operating performance, and robust enterprise risk management framework.
Ramón Martínez Carrera, CEO of Active Re, said: “In a market that continues to reward discipline, Active Re demonstrated that portfolio quality, capital strength, and technical consistency are the foundation of sustainable growth.
“During 2025, we made demanding decisions, prioritizing technically sound business, long-term relationships, and a clear risk vision. This approach allows us to enter the next cycle with a stronger balance sheet, a more diversified portfolio, and a team prepared to continue creating value for our clients, partners, and shareholders.”
The report also highlights Active Re’s consolidated global presence, serving 628 cedants across 129 countries, supported by a team of 83 professionals and a network of 190 brokers and 15 Delegated Underwriting Authorities (DUAs).
During 2025, the company also strengthened its regulatory standing in Argentina, advanced its recognition as a foreign reinsurer across the Middle East, Asia, and Africa, and deepened key relationships in North America, Latin America, the Caribbean, EMEA, and Asia-Pacific.
The treaty business remained a key growth pillar, driven by Property & Engineering, Specialty Lines, and Credit & Surety, while maintaining a disciplined approach that prioritised technical profitability over volume growth.
The company also strengthened its global retrocession program and continued consolidating its Alternative Risk Transfer (ART) platform, expanding its ability to provide risk transfer and capital efficiency solutions.
Moreover, the report underscores important progress in innovation, digitalisation, and operational efficiency. Active Re transitioned from the prototyping phase to practically implementing AI solutions to improve technical and operational processes.
By the end of 2025, AI-supported processing for 50% of treaty technical accounts, a roadmap set to evolve through 2026.
“With these results, Active Re reaffirms its position as a global, specialized, and innovative reinsurer, committed to technical excellence, underwriting discipline, financial strength, and the creation of sustainable value for clients, strategic partners, and shareholders,” Active Re concluded.
