AM Best Reaffirms Barents Re’s Credit Ratings, Highlighting Strength and Stability

MEXICO CITY – JANUARY 16, 2026 12:29 PM (EST)

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re Reinsurance Company, Inc. (Barents Re) (Cayman Islands) and its affiliate, Barents Reinsurance S.A. (Barents Re Lux) (Luxembourg). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Barents Re’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

The rating affirmations reflect Barents Re’s risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), the improvement in the company’s corporate governance framework and consistent profitability. AM Best expects the execution risk generated by the constantly shifting regional composition of Barents Re’s business portfolio to remain contained.

The ratings of Barents Re Lux reflect the company’s strategic importance to and the support it receives from Barents Re. Barents Re Lux is part of the Barents Re rating unit, and is fundamental to the group’s overall strategy. Barents Re also provides parental guarantee and reinsurance support to Barents Re Lux. Barents Re’s business portfolio contracted year-over-year in 2024, mainly driven by cargo run-off and specialty lines cancellation coverages in Europe; however, energy, property and life still drove business growth. The Middle East and North Africa-sourced business represents 43% of Barents Re’s portfolio, with the Latin America region generating 24%, followed by Europe with 17% and Asia at 16%, as of year-end 2024. The company is supported by its diversified and comprehensive reinsurance programs, which are placed among reinsurers with a good level of security, a key characteristic that Barents Re has adopted to enter new business lines and regions prudently.

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AM Best Press release – Spanish version

AM Best Press release – English version