We remain committed to delivering high-value, specialized reinsurance solutions across our core markets—focusing on sustainability, innovation, and long-term relationships.
The financial results of 2024 are a source of pride. In a context of global contraction in premiums, we maintained our focus on disciplined underwriting and operational excellence. We achieved a net profit of USD 56.6 million, reflecting a 3% increase compared to the previous year. Our equity grew to USD 717.6 million, an increase of 7.5%, reaffirming our strong financial foundation and long-term solvency.
Despite a 9% decline in gross written premiums, we sustained a 30% net profit margin and achieved a combined ratio of 85%, which demonstrates our resilience, our effective cost management, and the strength of our retrocession strategy. Our investment portfolio—concentrated in high-grade, short-duration instruments—continued to benefit from favorable interest rate conditions.
Our equity reached USD 717.6 million, reaffirming our financial strength and long-term capabilities.
+7.5%
Increase
We achieved a net profit of USD 56.6 million, reflecting a
+3%
increase compared to the previous year.
These results are more than numbers. They are a testament to the dedication of our team and the trust placed in us by our clients and partners.
As we look ahead to 2025, we do so with a renewed sense of purpose and a clear strategy to keep building on these strong foundations. We remain committed to delivering high-value, specialized reinsurance solutions across our core markets—focusing on sustainability, innovation, and long-term relationships.
I am sincerely grateful for the continued trust of our partners, clients, and brokers. Together, we will meet the challenges of tomorrow with the same integrity and commitment that define Barents Re.
We are well positioned for what’s to come.
Gerardo García G.
Director – Executive Chairman
