Regional non-life reinsurer Asia Re (Asian Re) reported strong financial results for 2025, with net profit of US$6.7 million and a combined ratio of 91.4%.
Since 2018, through a number of strategic initiatives implemented by management, Asia Re’s investment portfolio has grown steadily at a compound annual growth rate of 13.5%, with premiums reaching US$28.95 million in 2025 and underwriting profits in both 2024 and 2025.
The company has also delivered positive operating results over the past five years, with a return on equity of 8.3% in 2025.
According to guidance from Royal Bank of Thailand, the current solvency ratio remains at a strong level of 372%, reflecting easy liquidity conditions and low underwriting leverage.
AM Best also recently confirmed Asia Re’s credit rating, with a stable rating outlook.
The rating agency affirmed Asia Re’s financial strength rating of B++ (good) and long-term issuer credit rating of “bbb” (good).
Meanwhile, AM Best awarded Thailand National Rating (NSR) aa+.TH (Excellent) to Asia Re. NSR’s outlook is stable.
AM Best noted that the ratings reflect Asia Re’s balance sheet strength, which it assesses as strong, and its favorable operating performance.
Asia Re’s balance sheet strength assessment is based on risk-adjusted capital measured by the Best Capital Adequacy Ratio (BCAR), which is expected to remain at very strong levels over the medium term, reflecting strong solvency.
Asia Re continues to expand its business scope with a focus on improving geographical and business scope diversification. The company also continues to implement business partnerships and initiatives designed to expand its product portfolio and market share.
