Active Capital Reinsurance, known as Active Re, released its 2025 Annual Report, Positioned for What’s Ahead, according to Beinsure. The Barbados-based reinsurer used the report to set out its annual results, strategic progress and priorities after a year shaped by underwriting discipline, selective risk taking and the expansion of its international operating base.
The company worked through a reinsurance market with more competition, abundant capital and pricing pressure across several business lines.
Instead of chasing premium growth, Active Re kept its focus on portfolio quality, controlled risk selection and value creation over time.
That strategy showed in the numbers. Active Re closed 2025 with an 88.4% combined ratio, return on equity of 16.1%, a technical result of $26.7 mn and total equity of $108 mn.
AM Best reaffirmed Active Re’s Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of a (Excellent) for the third consecutive year. Both ratings carry a stable outlook. The rating agency cited the company’s balance sheet strength, operating performance and enterprise risk management.
Ramón Martínez Carrera, CEO of Active Re, said the market continues to reward discipline. He said portfolio quality, capital strength and technical consistency form the basis for sustainable growth.
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.
Ramón Martínez Carrera, CEO of Active Re
“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,” said Ramón Martínez Carrera.
During 2025, the company made stricter underwriting choices, prioritising technically sound business, long-term relationships and a clear view of risk. Carrera said this approach leaves Active Re with a stronger balance sheet, a more diversified book and a team prepared for the next cycle.
The report also points to a wider international footprint. By year-end, Active Re served 628 cedants across 129 countries. Its operating network included 83 professionals, 190 brokers and 15 Delegated Underwriting Authorities.
Active Re also expanded its regulatory reach. The company strengthened its presence in Argentina, advanced recognition as a foreign reinsurer in several jurisdictions across the Middle East, Asia and Africa, and built deeper relationships with cedants and brokers in North America, Latin America, the Caribbean, EMEA and Asia-Pacific.
Treaty business remained one of the main growth engines. Property & Engineering, Specialty Lines and Credit & Surety drove activity, while the company kept technical profitability ahead of volume growth.
Active Re also strengthened its global retrocession programme and continued to build out its Alternative Risk Transfer platform. That work expanded its capacity to provide risk transfer and capital efficiency solutions to clients and partners.
Active Re moved from testing artificial intelligence tools to using them in technical and operational work, with a focus on measurable process gains rather than presentation slides.
By the end of 2025, artificial intelligence supported the processing of 50% of treaty technical accounts. The company plans to develop this roadmap further through 2026 as it applies digital tools to underwriting, technical accounting and operating workflows.
