{"id":696,"date":"2025-04-03T16:00:06","date_gmt":"2025-04-03T16:00:06","guid":{"rendered":"https:\/\/beijingcareer.com\/?p=696"},"modified":"2025-04-04T04:12:41","modified_gmt":"2025-04-04T04:12:41","slug":"arundo-res-combined-ratio-strengthened-in-2024-as-turnover-rose-15-to-e1-36bn","status":"publish","type":"post","link":"https:\/\/beijingcareer.com\/index.php\/2025\/04\/03\/arundo-res-combined-ratio-strengthened-in-2024-as-turnover-rose-15-to-e1-36bn\/","title":{"rendered":"Arundo Re\u2019s combined ratio strengthened in 2024 as turnover rose 15% to \u20ac1.36bn"},"content":{"rendered":"

Arundo Re, the French reinsurance company majority-owned by SMABTP, MACSF, and CCR, generated turnover of \u20ac1.361 billion in 2024, an increase of 15% year-on-year, as the company’s undiscounted combined ratio strengthened by 1.9 percentage points to 94.7%.<\/p>\n

\"\"After reporting 13% premium growth across its portfolio<\/a> at the January 1st, 2025, reinsurance renewals, Arundo Re has today announced a strong financial performance for 2024.<\/p>\n

The reinsurer explains that the 15% growth in turnover, or 12% at constant exchange rates, was driven by both non-life and specialties in all geographic regions.<\/p>\n

Arundo Re’s combined ratio of 94.7% strengthened for consecutive years in 2024, down from 96.6% in 2023 and 98.7% in 2022.<\/p>\n

The improved underwriting performance comes in spite of what the firm describes as “an exceptional accumulation of events in Canada”, which includes wildfires, hailstorms, flooding, and a cyclone, as well as “a high frequency of medium-sized claims directly linked to climate change.”<\/p>\n

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On the Life side, the profitability on the portfolio was 1.5%, which is down on 2023, due to the reconstitution of provisions, explains the carrier.<\/p>\n

At 4.3%, Arundo Re’s cost ratio is unchanged from 2023, so still slightly higher than the 4.1% reported for 2022.<\/p>\n

On the asset side of the balance sheet, Arundo Re has reported that the accounting yield on its assets stood at 2.6%, “thanks to a buoyant interest rate environment and unrealised capital gains environment”, amounting to \u20ac20 million on total assets of \u20ac3.82 billion at market value.<\/p>\n

The result of all of the above is 2024 EBITAER of \u20ac109 million and net profit of \u20ac64 million, an increase of 24% and 14%, respectively, when compared with the prior year<\/a>.<\/p>\n

Lastly, the reinsurer’s solvency ratio improved further as at December 31st, 2024, to 211%, up on 2023’s 208% and 2022’s 205%.<\/p>\n

Patrick Bernasconi, Chairman of Arundo Re’s Board of Director, commented on the 2024 results: “The 2024 results are in line with the business plan set by the new Board of Directors. It is a great pleasure to share this new success with Arundo Re’s teams, customers and partners. We are honoured by the loyalty of the relationships we have established, which are bearing fruit.”<\/p>\n

Chief Executive Officer, Bertrand Labilloy, said: “In 2024, Arundo Re maintained its profitable growth trajectory despite the rising cost of natural catastrophes. These results continue to demonstrate the relevance of our strategy: the solidity of our balance sheet continues to strengthen, and this gives us an attractive degree of flexibility in this ever-changing environment.”<\/p>\n

The post Arundo Re’s combined ratio strengthened in 2024 as turnover rose 15% to \u20ac1.36bn<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Arundo Re, the French reinsurance company majority-owned by SMABTP, MACSF, and CCR, generated turnover of \u20ac1.361 billion in 2024, an increase of 15% year-on-year, as the company’s undiscounted combined ratio strengthened by 1.9 percentage points to 94.7%. After reporting 13% premium growth across its portfolio at the January 1st, 2025, reinsurance renewals, Arundo Re has […]<\/p>\n","protected":false},"author":1,"featured_media":698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts\/696"}],"collection":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/comments?post=696"}],"version-history":[{"count":3,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts\/696\/revisions"}],"predecessor-version":[{"id":701,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts\/696\/revisions\/701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/media\/698"}],"wp:attachment":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/media?parent=696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/categories?post=696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/tags?post=696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}