Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, has reported a strong financial performance for 2025, with a net profit of $6.7 million and a combined ratio of 91.4%.
Asian Re’s portfolio has grown steadily since 2018 through a number of strategic initiatives implemented by management, delivering a CAGR of 13.5% and premiums of $28.95 million in 2025, alongside underwriting profits for both 2024 and 2025.
Over the last five years, the company has also posted positive operating results, evidenced by a return on equity ratio of 8.3% in 2025.
The current solvency ratio remains robust at 372% under Thailand RBC guidelines, reflecting a comfortable liquidity position and low underwriting leverage.
AM Best has also recently affirmed the credit ratings of Asian Re, with a stable outlook for the ratings.
The ratings agency affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Asian Re.
Concurrently, AM Best assigned the Thailand National Scale Rating (NSR) of aa+.TH (Superior) to Asian Re. The outlook assigned to the NSR is stable.
AM Best noted that the ratings reflect Asian Re’s balance sheet strength, which it assesses as strong, alongside its adequate operating performance.
Asian Re’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which AM Best expects to remain at a very strong level over the medium term, reflecting robust solvency.
Asian Re continues to grow its book of business, with a focus on improved diversification by geography and line of business. The company also continues to implement business partnerships and initiatives aimed at expanding its portfolio and market presence.
