Affinity was the origin of Active Re’s reinsurance activity and remains a very important part of its business and a solid contributor to its net income.
Active Re participates in some relevant affinity programmes in Central America that continue to produce significant premiums. In 2019, Active Re expanded its affinity business to the MENA region and India.
Affinity will remain a strategic class of business for Active Re, and the intention is to expand it to other markets where good opportunities are available.
Property & Engineering:
These types of business have grown exponentially during 2019 and continue to do so in 2020 due to the incorporation of an additional underwriting team for facultative business outside Latin America and to the conclusion of important cooperation agreements with some intermediaries in the MENA region.
Additionally, Active Re signed during 2019 agreements with three London-based MGAs specializing in the property, engineering and energy classes. This co-operation is producing significant premium and income figures, although 2019 accounts still do not fully reflect the importance of the MGA business in Active Re’s book.
Surety & Credit:
Along with its facultative surety reinsurance operation and with a Lloyd’s supported capacity, Active Re started to develop in 2019 a book of European surety treaty business. This line is being developed further in 2020 with the addition of new European and Asian markets to the book.
Credit business is very moderate and selective, focusing on markets where opportunities appear with an excellent track record.
• Financial companies
• Commercial financing companies
• Insurance companies
• Cooperatives and savings and loans societies
• Marketing and sales companies
• Tourism sector
• Construction companies