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Active Capital Reinsurance, Reinsuring the lives!

Active Capital Reinsurance ( Active RE ) is continuing to expand globally and diversify their business in spite the challenges of the corona virus pandemic. Juan Antonio Nino Pulgar, the CEO of Active RE, said that the company had to face great obstacles in the past, and it has proved that with resilience and determination any hurdle can be overcome. Most countries were facing strict mobility restrictions in the places it operated, but the Barbados headquartered international firm continued to work without any gaps.

Active RE provides reinsurance products and the risk management service and tools to 284 conceding companies and 107 brokers, across 83 countries like Latin America, Europe, MENA and APAC. The mission of Active RE is ‘Benefit for All’, and having this, they have been dedicated for 13 uninterrupted years now leading to the promotion of its brand and work ethic. The firm is mainly categorized by its unique reinsurance solutions which are aimed at the comprehensive management of risks of financial and credit institutions, as well as regional economic groups throughout the Latin America. He shared that, they had received nothing but trust, loyalty and massive support from our clients. He had nothing but gratitude to express his sincere thanks and his high appreciation to his clients and to his strategic allies; distribution channels, retrocession Aires, staff and mainly his employees. Nino expressed that they had been accompanying the firm on a high level on their journey to success for the past 13 years. He also hoped that they continue doing the same and inspiring the company in the coming years too.

Active RE, has reported a gross annual average premium of $108 million in the past 5 years. Combining an average ratio of 86 per cent. It accumulated a sum of $832m in 2007-2019, offering high-class financial security to clients located in 83 markets across all continents. He dedicated all the successful delivery of the technical results to the diversified portfolio and a conservative underwriting policy. All this based on appropriate retaining of the core business and the cession of stabilities and accumulations for the first line retro capabilities. Due to increase in the reinvestment of the earnings and capital injections, the equity base has grown more than before. This resulted in its performance and maintaining high levels of liquidity, profitability and regulatory adequacy.

To embrace the task of growth, diversification and competitiveness in such an instable environment and in a short period of time, they revised and restructured two of their fundamental pillars, those pillars are the Enterprise Risk Management (ERM) framework and the Strategic Map (Mapa Estratégico®). And after this the company’s risk matrix has shown visible changes in certain types of risks, such as cybercrime and pandemic, which represented the recent global trends. But the risks were regularly monitored by the firm as Nino stated.

Entering new marketplaces and business lines was an occasion and a confident step of significance in times of external and internal influences, Nino thanked the combined effort of his team and the support of their allies and distribution channels. In lesser than just two years, Active RE completely renewed its tech platform, that too with a growing level of atomization in sectors of operations, which in other instances would have absorbed expensive and rare resources. Since 2015, they had been working on a diversification strategy into other markets and lines of business, thus augmenting its global reach and widening client solutions, said Nino. This effort technically led the company to develop a substantial global portfolio, not only in bancassurance but also in old-fashioned lines of reinsurance. Going further, recruitment of new senior staff members. Ramon Martinez-Carrera has been appointed by Nino as deputy CEO and he also welcomed three new colleagues from Mexico and Argentina for top positions in its offices around the world.

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Euro zone ministers expect inflation to slow in 2022

The acceleration of euro zone inflation, driven energy prices, is mostly temporary. Then the price growth will slow down again. The euro zone finance ministers agreed that, that too the next year as forecasted by the European Central Bank and the European Commission.

Paschal Donohoe, chaired the talks of the ministers in Luxembourg. In a news conference he said that there was also agreement that the inflation spike was not an argument against the transition to renewable sources of energy. This is under the EU’s ambitious plan of reducing CO2 emissions to zero by the year 2050.

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Under new rules, borrowing for investment sensible

British finance minister Rishi Sunak said that the government borrowing to fund investment was a sensible thing. This is to allow under new fiscal rules that he is likely to announce, unlike borrowing for day-to-day spending. He said that borrowing for capital investment that is going to drive up their growth is probably a sensible thing for them. And that too particularly in an environment of slightly lower interest rate. Sunak stated this in an event on the sidelines of the annual conference of Britain’s ruling Conservative Party. This event was organized by the Taxpayers’ Alliance advocacy group. Sunak stated in that event, that borrowing for more day-to-day spending is probably less something that you would want to have as part of your framework.

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IMF board to interview Georgieva-sources

The International Monetary Fund’s executive board is going to interview Managing Director Kristalina Georgieva. This is regarding that; its reviews claims that she pressured World Bank staff to alter data to favor China in her previous role. Board members were initially expected to meet with Georgieva. But spent their time working on other regular business matters.

The board members spent hours for questioning lawyers from the WilmerHale firm. This is about their World Bank investigation report which alleged that Georgieva, as the bank‘s CEO applied undue pressure on staff, to alter data in the flagship “Doing Business” report to benefit China. Then, an IMF spokesperson said that the IMF board remains committed to a thorough, objective, and timely review of the matter. Georgieva has strongly denied the accusations.

The upcoming interviews could prove pivotal in either increasing support for Georgieva. This is with many IMF shareholders are keen to wrap up the board’s deliberations on the matter. The fund’s most influential member governments, including the top shareholder the United States, have withheld public judgment. The World Bank tasked WilmerHale with investigating the “Doing Business” data irregularities identified in 2020. The law firm’s report contends Georgieva. The former World Bank President Jim Yong Kim’s office pressured staff to manipulate data so that the China’s global ranking in the “Doing Business 2018” study of investment climates rose to 78th from 85th.

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