Active Capital Reinsurance (Active Re), a global reinsurer, said AM Best has affirmed its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent), both with stable outlooks. The decision extends Active Re’s nine-year record in AM Best’s Excellent category, while its balance sheet strength remains assessed at the strongest level.
Risk-adjusted capitalization remains at the strongest level under Best’s Capital Adequacy Ratio. AM Best attributed this position to continued growth in Active Re’s capital base through retained earnings and capital contributions.
The stable outlook also takes account of Active Re’s operating performance and underwriting discipline. As of December 2025, the company’s net premiums written-to-surplus ratio stood at 1.13x, reflecting conservative underwriting leverage and a capital base supporting further development of its operations.
AM Best also assessed Active Re’s retrocession program as adequate. The program is spread among a diversified group of reinsurers with good security levels, limiting counterparty credit exposure and providing protection for the company’s underwriting portfolio.
Operating performance was assessed as Strong, supported by stable profitability and a disciplined underwriting approach.
During 2025, Active Re increased its focus on underwriting quality, including business managed through delegated authorities, which produced sound technical results.
As of August 2026, the company continued to report strong underwriting metrics and positive bottom-line results. AM Best also cited the continued development of Active Re’s enterprise risk management framework as part of its assessment.
This affirmation by AM Best reflects the consistency with which we have built our growth and the discipline we maintain in every decision
Ramón Martínez Carrera, CEO of Active Re
Martínez Carrera said the company continues to strengthen its capital structure and underwriting practices while maintaining a focus on profitability and prudent risk management. He added that Active Re intends to support growth with sufficient financial and technical capacity while maintaining relationships with clients, brokers and strategic partners.
Active Re operates across Asia, the Americas, Europe, Africa and Oceania. Its portfolio spans several lines of business, with underwriting focused mainly on short-term non-catastrophe risks.
The geographical and product mix supports Active Re’s expansion across multiple markets while keeping its underwriting profile concentrated on the areas covered by its existing strategy. The latest affirmation leaves both of the company’s AM Best ratings unchanged with stable outlooks.
