Asian Re grows profit with disciplined underwriting in 2024

AM Best expects performance to be supported by underwriting and investment income.

Asian Reinsurance Corporation is expected to maintain improved profitability and strong capital adequacy over the medium term, according to AM Best.

The company reported a return-on-equity of 9.4% in 2024, with its combined ratio improving to 85.3% from 101.6% in 2023. 

AM Best expects future performance to be supported by continued underwriting discipline and steady investment income.

Asian Re’s capital adequacy remains at the strongest level, though its relatively small capital base of $76m increases exposure to shock events. 

The company also retains some high-risk investments, which continue to pose credit and liquidity risks despite recent reductions.

With gross premiums of $26m in 2024, Asian Re is focusing on expanding its business across Asia, the Middle East, and Africa.