AM Best Issued First Credit Ratings for Charp Re
The reinsurer now carries a B++ financial strength rating for its diversified international portfolio.
Updated on Sept. 22, 2026 in Financial Services
Live Poll
Do you trust the credit ratings assigned by major agencies to insurance companies?
Rating agency AM Best assigned a B++ Financial Strength Rating and a bbb Long-Term Issuer Credit Rating to Charp Re, Ltd. These ratings reflect the firm's balance sheet strength and stable outlook for its operations across 32 countries.
Why it matters
Credit ratings influence a reinsurer's ability to secure capacity and negotiate contracts with primary insurers. This formal assessment provides market transparency into the financial health of the firm's Latin American and Caribbean-focused business lines.
Charp Re, Ltd. maintains a diverse portfolio concentrated 38.3% in group life, 22.1% in property, and 13.4% in financial lines. The firm conducts 71% of its total business across Latin America and the Caribbean, with the remainder spread across Europe, MENA, and Asia.
The players
AM Best
A global credit rating agency specializing in the insurance and reinsurance industry.
Charp Re, Ltd.
A reinsurer based in the Turks and Caicos Islands with operations spanning 32 countries.
The details
AM Best based its assessment on the firm's audited financial statements, business plans, and financial projections from 2020 through 2025. The methodology, updated in August 2024, evaluated Charp Re's enterprise risk management and its underwriting profitability metrics. The agency expects the firm to sustain positive bottom-line results as it scales its global footprint.
Timeline
2018: Charp Re, Ltd. was founded.
2020-2025: Financial data range used for the rating assessment.
2025: Business portfolio composition data reference year.
September 22, 2026: Official date of the initial credit rating assignment.
Market Landscape
This rating assignment follows the standards set by Best's Credit Rating Methodology version August 29, 2024. The firm's assessment marks a milestone in its transition to a rated entity, following a path set by mid-sized reinsurers seeking to formalize their standing with global partners.
Operators in primary insurance should factor this new credit rating into their counterparty risk assessments for existing or future reinsurance treaties. Reinsurance buyers can now use these standardized B++ and bbb ratings to benchmark the firm against other participants in the regional market.
The takeaway
Receiving an official credit rating is a signal of a reinsurer's intent to formalize its competitive positioning and expand its reach beyond niche markets. Partners should track whether the firm maintains these underwriting metrics in subsequent quarterly disclosures.
Further reading
For more on industry benchmarks and evaluation criteria, visit Financial Services.
More information
Review the full details of the Best's Credit Rating Methodology document used in this assessment.
Live Poll
Do you trust the credit ratings assigned by major agencies to insurance companies?
