For the first nine months of this year, Barbados-based reinsurer Active Re saw its net reinsurance premiums expand by 20% year-on-year to $164 million, as the firm hails 2024 as “a period of significant achievements”.
Established in 2007, Active Re is comprised of over 80 professionals located in 18 cities across 12 countries, and is focused on underwriting short-term, non-catastrophic risks.
According to the firm, up to October 2024, performance has aligned with its strategic objectives, with 20% net reinsurance premium growth reflecting robust expansion.
During the nine month period, net retained premiums increased by 38% to $106 million, which highlights the company’s strengthened retention capacity. At the same time, return on equity stood at a robust 21%, which reflects the efficiency and profitability of its operations.
This year also saw the reinsurer open a new office in Barbados, and, prior to this, Active Re’s credit ratings were affirmed by global rating agency AM Best.
“Active Re continues to growth actively with its strategic vision, focused on operational excellence, global expansion, and strengthening its leadership in the reinsurance market,” says the company.
November was also a busy period for the company as it participated in three conferences, starting with the Singapore International Reinsurance Conference (SIRC), which was followed by the Sharm Rendezvous Congress in Egypt, and then the Central American Panama-Caribbean Congress in Guatemala.
Ramón Martínez Carrera, CEO of Active Re, commented: “By participating in three international conferences across Asia, Africa, and the Americas, Active Re has reaffirmed its commitment to global growth and innovation, while also strengthening strategic relationships and solidifying our position in key markets. Our presence at these high-level events has not only reinforced our vision of leading the reinsurance industry globally but has also highlighted our ability to operate robustly, agilely, and with a strong focus on our clients’ needs.”
