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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

AM Best Affirms Credit Ratings of Worldwide Reinsurance Limited

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Worldwide Reinsurance Limited (Worldwide Re) (Trinidad and Tobago). The outlook of these Credit Ratings (ratings) is positive.

The ratings reflect Worldwide Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management (ERM).

The positive outlooks reflect Worldwide Re’s improvements to its ERM profile through enhancements to its non-proportional retrocession structure and further reinforcement of its corporate governance, which safeguards its strongest risk-adjusted capitalization supportive of a stable balance sheet strength, and sound operating performance.

Worldwide Re launched operations in 2013, to provide reinsurance capacity for property, marine and liability lines of business and is diversified geographically throughout Europe, where the majority of its business is currently located, Oceania, Asia, Central America, South America and the Caribbean. Worldwide Re operates through a network of brokers, intermediaries and managing general agents.

The ratings also reflect Worldwide Re’s good and sustained underwriting quality and profitability, solid capital management and geographically diversified premiums. Partially offsetting these positive rating factors are the highly competitive landscape in its target geographic markets amid a challenging economic environment.

The company’s capital base has grown consistently over time through reinvestment of earnings, reflecting a compound annual growth rate of 10.5% as of 2024, mainly driven by sound underwriting practices.

In 2024, Worldwide Re recorded a combined ratio of 72.7% and a return on equity of 31.4%, enabled by a surge in its growth and well-contained overall expenses, as well as a release of excess reserves. Additionally, AM Best expects future acquisition expenses to offset deviations in claims as the company decreases its risk retention, while expanding consistently in target geographies, along with a good reinsurance security panel. Financial income continues to support Worldwide Re’s results; however, the company is not dependent on this revenue to achieve positive bottom-line results. Worldwide Re constantly reviews its underwriting guidelines to improve the performance of its business segments that are deviating from targets.

Positive rating actions could occur if the company is able to maintain improvements in its ERM profile, while maintaining its current level of risk-adjusted capitalization supporting a stable balance sheet. Negative rating actions could occur if the company’s operating performance deteriorates to a level no longer supportive of the ratings.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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