AM Best Affirms Credit Ratings of Arundo Re
The ratings reflect Arundo Re's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Arundo Re's balance sheet strength assessment reflects its risk-adjusted capitalisation being at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), supported by internal capital generation. This assessment also factors in the company's low dependence on reinsurance and conservative reserving practices, as well as its liquid and good quality investment portfolio. Arundo Re has demonstrated its financial flexibility, most recently with the issuance of EUR 300 million of subordinated debt in 2020.
Arundo Re has been profitable since its creation as a stand-alone company in 2016, with earnings stemming from underwriting and investment activities. Since inception, the company has experienced strong growth, with net written premium expanding at an average annual rate of 19% for the five-year period ending in 2024 (15% in 2024). Profit after tax has trended higher during the past few years, with an average return on capital and surplus of 8% for the five-year period ending in 2024 (9% in 2024).
Arundo Re's neutral business profile is supported by its established presence in the international reinsurance market. In January 2025, the company officially rebranded as Arundo Re from CCR RE. The company has a well-diversified underwriting portfolio, benefiting from an extensive client base.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
www.ambest.com.
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