AM Best: positive outlook for Atlantic Re's long-term issuer credit rating

AM Best has affirmed Atlantic Re’s financial strength rating of “B++” (Good) and its long-term issuer credit rating of “bbb” (Good).

The outlook for the financial strength rating remains stable, while the outlook for the issuer credit rating has been revised from stable to positive.

The ratings reflect the Moroccan reinsurer’s strong balance sheet, neutral business profile and sound risk management practices.

The upward revision of the credit rating outlook is driven by improved risk-adjusted capitalization and its positive impact on the company’s balance sheet strength.

According to AM Best, Atlantic Re has delivered solid operating performance, with a non-life combined ratio of 85.2% and an average return on equity (ROE) of 14.3% over the 2020–2024 period.

The reinsurer closed the 2024 financial year with turnover of 3.8 billion MAD (389 million USD).