AM Best has confirmed the Financial Strength Rating of A- and Long-Term Issuer Credit Rating of “a-” for Brazilian reinsurer IRB (Re) following a revision of its outlook from negative to stable. This decision reflects the company’s robust balance sheet strength, marked by improved risk-adjusted capital levels and successful capitalisation efforts. With adequate operating performance and effective enterprise risk management, IRB (Re) has demonstrated improvements in its operations and underwriting performance throughout 2024. However, future performance may still be influenced by Brazil’s macroeconomic conditions, which could affect the company’s capital-raising ability if needed.
