Active Capital Reinsurance Ltd., (Active Re) presented its audited financial statements for the year ended December 31, 2020.Despite the challenges experienced by the COVID-19 pandemic, these results reflect an important financial performance.
With an AM Best rating of A- (Excellent) with a stable outlook, during 2020 Active Re maintained efficient capital management, reinvesting retained earnings and showing an increase in its paid-in capital by 29% over 2019 (US$ 8.5M) reaching US$ 40M and US$ 51.9M in equity, with a ROE of 21%.
Active Re continues to create value and solutions for its clients through innovative and efficient products. Their strategy allowed technical income to increase by 13% (US$ 14.6M) compared to the previous year, and in turn, the net income increased to US$ 9.7M, 10% higher than in 2019. The company maintained adequate leverage of 0.98, a retention level of 35% and a remarkable solvency margin of 264%.
Market penetration – despite the challenges 2020 presented – has been successful, closing contracts in various lines of business with 346 insurance companies located in 107 countries, either directly or through 117 brokers and 9 MGAs located in world-class financial centers.
“At Active Re, we believe that our strategy of seeking excellence in service, focusing on providing the best alternatives and solutions to our clients, coupled with the dedication and hard work employed by our team, is what leads us to success,” said Juan Antonio Niño, Chairman of Active Re’s Board of Directors.
In 2021 Active Re will continue to generate benefits, with a renewed technological platform, and a professional team located in 10 locations around the world, fluent in 8 languages, allowing a 24/7 availability for customers.
To learn more about the 2020 Audited Financial Statements included in the 2020 Annual Report you can access https://www.active-re.com/annual-report/.