Reinsurance News
Barents Re
Barents Reinsurance settles with PRA over £1.8m post-Brexit compliance fine
28th July 2025
Barents Reinsurance S.A. (Barents) has acknowledged the Final Notice issued by the Prudential Regulation Authority (PRA) regarding breaches related to post-Brexit compliance in its London Branch (now in supervised run-off) between July 2021 and October 2023. The PRA fined Barents a reduced amount of £1,785,000 due to certain governance and reporting ... Read the full article
Barents Re and subsidiaries get A- ratings with stable outlook from S&P
18th June 2025
Credit rating company S&P Global Ratings has assigned independent reinsurance group, Barents Re Reinsurance Company Inc. (Cayman Islands), and two of its subsidiaries (collectively Barents Re) an 'A-' long-term issuer credit and financial strength ratings with a stable outlook. The two subsidiaries with the 'A-' long-term financial strength ratings are Barents ... Read the full article
Barents Re names Callaghan CEO as Garcia transitions to Exec Chairman
26th February 2024
Barents Re, an independent reinsurance group, has announced the appointment of Gary Callaghan as its new Chief Executive Officer (CEO), with founder Gerardo Garcia assuming the role of Executive Chairman of the company. These appointments were approved by the Board of Directors of Barents Re, and remain subject to the authorization ... Read the full article
Barents Reinsurance adopts Moody’s RMS models for property portfolio
7th August 2023
Barents Reinsurance SA, part of the Barents Re Group, has selected Moody’s RMS to provide natural catastrophe modelling services for its expanding property portfolio. As part of the multi-year agreement, data enhancement and modelling will be executed by Moody’s RMS Analytical Services team to cover multiple perils, including Europe earthquakes, windstorms, ... Read the full article
Barents Re hires Jean-Yves Litampha as Head of Compliance
4th April 2023
Barents Re, an independent reinsurance group, has appointed Jean-Yves Litampha as Head of Compliance. Litampha joins the reinsurer from Convex Insurance, where he also previously held the role of Head of Compliance. Prior to that, he spent just under five years working at specialist re/insurer Hiscox. He joined the firm in 2016 ... Read the full article
AM Best notes a reversion in negative trends for Barents Re
16th December 2022
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re and its affiliate, Barents Re Lux. AM Best suggests that the revised outlooks reflect the reversion of the negative trend ... Read the full article
Barents Re to target life expansion and bonds opportunities
14th December 2018
Specialist reinsurance firm Barents Re has identified Life reinsurance in emerging markets as a key area of expansion for the company, as well as further opportunities in its established Bonds lines. Speaking with Global Banking & Finance Review, President and CEO of Barents Re Gerardo Garcia noted that the Life and ... Read the full article
Barents Re provides reinsurance support to Uzbek insurer KAFOLAT
30th May 2018
Specialist reinsurance firm Barents Re has signed an agreement to reinsure Uzbekistan insurance company KAFOLAT Insurance Company. The facultative reinsurance agreement was signed with Barents Reinsurance SA in March, according to Uzbek insurer KAFOLAT, with Barents Re chosen as the successful reinsurance partner, given its market position and global reach. KAFOLAT has secured ... Read the full article
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