AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Arundo Re (France). The outlook of these Credit Ratings (ratings) is stable.
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. Arundo Re’s BCAR includes partial credit for its subordinated debt. The balance sheet strength 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. Financial leverage as calculated by AM Best stood at 15.5% at year-end 2025, with a strong interest coverage.
Arundo Re has been profitable since its creation as a stand-alone company in 2016, with earnings stemming from both underwriting and investment activities. Since inception, the company has experienced strong growth, with net written premium expanding at an average annual rate of 16.7% for the five-year period ending in 2025 (5.5% in 2025). Profit after tax has trended higher during the last few years, with an average return on capital and surplus of 9.5% for the five-year period ending in 2025 (12.5% in 2025).
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, following a change in shareholder in 2023. The company’s new majority shareholder is Société Mutuelle d’Assurance du Bâtiment et des Travaux Publics (SMABTP). 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.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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